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Virgin Money launches long-term fixed rate mortgages

25/05/2018

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.

  • Virgin Money has launched its first seven and ten-year fixed rate mortgage products
  • 65% LTV seven-year residential fixed rate at 2.37% (£995 product fee)
  • 65% LTV ten-year residential fixed rate at 2.59% (£995 product fee)

Virgin Money has launched a range of competitive seven and ten-year fixed rate residential mortgages.

The products will enable customers to take advantage of the current low interest rate environment and secure the certainty of their mortgage payments through a longer term mortgage deal.

The products are available for house purchase, remortgage and product transfer, with remortgage customers also benefiting from a free valuation and free legal work. Selected purchase products also include cashback of up to £300.

The new products are available from Friday 25th May 2018.

New residential products:

  • Seven-year fixed rate at 65% LTV at 2.37% (£995 product fee)
  • Seven-year fixed rate at 75% LTV at 2.42% (£995 product fee)
  • Seven-year fixed rate at 90% LTV at 2.95% (no product fee)
  • Ten-year fixed rate at 65% LTV at 2.59% (£995 product fee)
  • Ten-year fixed rate at 75% LTV at 2.65% (£995 product fee)
  • Ten-year fixed rate at 90% LTV at 3.25% (£995 product fee)

The products are designed to be flexible to customer’s changing circumstances, being portable to a new property and allowing 10% capital repayments per year without charge.

Andrew Asaam, Director of Mortgages at Virgin Money, said: “We’re delighted to launch our new long-term fixed rate mortgages. We have seen an increased appetite from customers wanting the opportunity to future-proof their mortgage repayments. With interest rates still relatively low we’re offering homeowners the peace of mind of low mortgage payments for the next seven to ten years.”

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

ENDS

Media Contacts

Virgin Money Press Office
0191 279 4676
press.office@virginmoney.com

NOTES TO EDITORS

About Virgin Money

  • Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to 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 13,900 charities have registered with Virgin Money Giving and, by the end of 2017, over £600 million had been donated to charities through the service since its launch in 2009, resulting in an estimated £19 million more donated to charities because of its not-for-profit model.
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