Peter Rogerson, commercial director for mortgages and savings at Virgin Money said: “We are pleased to announce these latest mortgage rate reductions, which help borrowers across a range of circumstances.”
• Higher LTV fixed rates reduced by up to 0.20%
• Mortgages without product fees reduced by up to 0.25%
• Tracker rates reduced, now starting from 1.94%
Virgin Money has announced a number of changes across its residential mortgage range. The updated range will be available from 27 September 2013.
Key residential changes
Mortgages for those with smaller deposits reduced:
• 90% LTV two year fixed rate reduced by 0.20% to 4.55%*
• 85% LTV two year fixed rate reduced by 0.10% to 3.29%*
• 80% LTV two year fixed rate reduced by 0.17% to 2.68%*
Fee Saver Option rates (mortgages with no product fee) reduced:
• Two year fixed rate up to 60% LTV reduced by 0.11% to 2.34%
• Two year fixed rate up to 70% LTV reduced by 0.15% to 2.44%
• Two year fixed rate up to 75% LTV reduced by 0.05% to 2.74%
• Two year tracker up to 70% LTV reduced by 0.25% to 2.34%
Everyday mortgage rates reduced:
• Two year fixed rate up to 70% LTV reduced by 0.05% to 2.14%*
• Two year tracker up to 70% LTV reduced by 0.10% to 1.94%*
• Two year tracker up to 75% LTV reduced by 0.14% to 2.24%*
• Two year tracker up to 80% LTV reduced by 0.17% to 2.68%*
Freedom to Fix trackers, which allow customers to switch into a fixed rate during the tracker period, reduced:
• Two year Freedom to Fix tracker up to 70% LTV reduced by 0.76% to 2.09%*
• Two year Freedom to Fix tracker up to 75% LTV reduced by 0.85% to 2.34%*
• Two year Freedom to Fix tracker up to 80% LTV reduced by 0.81% to 2.78%*
Longer term fixed rates:
• Five year fixed rates available from 3.05% at 70% LTV*
• Five year fixed rate with no product fee available from 3.39%
* £995 product fee applies
