Virgin Money has announced a number of changes across its residential mortgage range. The updated range will be available from 26 April 2013.
Key Residential Changes
60 per cent LTV changes:
A new two year fixed rate at 2.19 per cent is available exclusively through intermediaries registered with a Virgin Money national account. Available to both purchase and remortgage customers, the product has a maximum loan size of £300,000 and a £1,095 product fee
70 per cent LTV changes:
Two year fixed and tracker rates available at 2.34 per cent with a £995 product fee – a reduction of 0.10 per cent
Three year fixed and tracker rates available at 2.39 per cent with a £995 product fee – a reduction of 0.15 per cent
Five year fixed rates available at 2.89 per cent with a £995 product fee – a reduction of 0.05 per cent
Buy to Let Changes
Cashback incentive of £750 will be extended across the entire buy to let range (certain buy to let products currently offer £500 cashback)
Two year fixed rates up to 60 per cent LTV available at 3.75 per cent (with a £995 product fee) – a reduction of 0.54 per cent
Two year fixed rates up to 70 per cent LTV available at 4.09 per cent (with a £995 product fee) – a reduction of 0.40 per cent
Richard Tugwell, Director of Intermediary Relationships at Virgin Money said “We’re delighted to announce these changes to our mortgage range, including the new exclusive product for intermediaries. This new deal demonstrates our commitment to offer attractive products to customers, and to put the relationships with our intermediary partners at the heart of our mortgage business.”
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