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Virgin Money launches new red hot range of mortgages

03/01/2017

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit our mortgage pages for full terms and conditions.

  • New two-year residential fixed rate up to 90% LTV at 2.84% for first time buyers (No product fee, £1,000 cashback)
  • New two-year buy-to-let fixed rate at 60% LTV now at 1.59% (£1,995 product fee and £500 cashback)

Virgin Money has launched a range of ‘Red Hot’ mortgage products across its residential and buy-to-let range as part of its Fast Start campaign to kick off 2017. The new products are available from Tuesday 3 January.

Key changes to residential products:

  • New two-year residential fixed rate up to 90% LTV at 2.84% for first time buyers (No product fee, £1,000 cashback)
  • Five-year residential fixed rate up to 65% LTV now at 1.89% (£995 fee, £300 cashback for purchases, free valuation and legal fees for remortgage)
  • Help to Buy Equity five-year fixed rate up to 75% LTV now at 2.59% (No product fee, £500 cashback)
  • Two-year flexible tracker up to 65% LTV now at 1.69% (£995 fee, free valuation and legal fees for remortgages)

Key changes to buy-to-let fixed rate:

  • Two-year fixed rate at 60% LTV now at 1.59% (£1,995 product fee and £500 cashback)

Peter Rogerson, Virgin Money’s Commercial Director for Mortgages said: “To kick off the year we have launched a new range of red hot mortgage products that offer competitive rates to help homebuyers get onto the property ladder, support those looking to move home and a great deal for landlords.”

Full details of Virgin Money’s mortgage range are available at www.virginmoney.com

ENDS

Media Contacts:

Virgin Money Press Office:

0191 279 4676

press.office@virginmoney.com

NOTES TO EDITORS

Early Repayment Charges

Following the fixed rate or tracker period, the loan will revert to Virgin Money’s applicable Standard Variable Rate (currently 4.54% for residential and the Buy-to-let Variable Rate is 4.74%) for the life of the loan. On Everyday products, an Early Repayment Charge will apply to the outstanding secured loan balance at the time of redemption. Any overpayments in excess of the 10% annual allowance will also be subject to the Early Repayment Charge.

Applications

Products are available through registered mortgage intermediaries, via the UK based call centre on 0800 0285 277 and at www.virginmoney.com. Phone lines are open from 8am to 8pm Monday to Friday, 9am to 3pm Saturday, and 10am to 3pm on Sunday.

Virgin Money’s mortgage business was recognised recently in the MFG Awards 2017, winning Best Intermediary Lender and Best Innovation by a Lender.

About Virgin Money

  • Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to over 3.2 million customers across the UK.
  • Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders.
  • More than 12,500 charities have registered with Virgin Money Giving and, by the end of September 2016, almost £500 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £15.7 million more raised for charity because of its not-for-profit model.

Supplementary notes

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit http://uk.virginmoney.com/mortgages/ for full terms and conditions.

Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.