The rate reductions will take place on Friday 22 June 2012 and will affect residential products for purchase and remortgage borrowers, as well as buy-to-let products.
Virgin Money also continues to offer its cashback incentive on a number of purchase products. For customers remortgaging from another lender, free standard legal services and a free basic valuation are also available for residential customers.
The buy-to-let range offers a cashback incentive of £500 on completion, in order to help customers cover the costs associated with managing their portfolio.
Fixed rate buy-to-let loans are now available from 3.99% for 2 years, or 4.99% for 5 years.
The new mortgage products are offered by Northern Rock plc and are available through registered mortgage intermediaries, the Northern Rock branch network and online. Details of the full range are available to direct customers at www.northernrock.co.uk/mortgages/ and to brokers at www.northernrock.co.uk/intermediaries/.
KEY POINTS
• Residential 2-year fixed rates available from 3.29% for both purchase and remortgage customers
• Residential 5-year fixed rates available from 3.79%
• Buy-to-let fixed rates available from 3.99% - and still offering cashback of £500
• Buy-to-let tracker rates available from 3.98%
