Virgin Money reduces mortgage rates
Virgin Money has reduced the interest rates on a number of its fixed rate mortgage products by up to 0.20 per cent.
Virgin Money’s new range, which features residential and buy-to-let products for both purchase and remortgage customers, is available from today (29 May).
Two-year fixed rates are available from 3.55 per cent for both purchase and remortgage customers, five-year fixed rates are available from 4.09 per cent and fixed rate buy-to-let mortgages start from 3.85 per cent.
Following the fixed rate period, the loan will revert to Northern Rock’s standard variable rate (SVR), currently 4.79 per cent, for the life of the loan.
On Everyday products, the early repayment charge will apply to the outstanding secured loan balance at the time of redemption.
Any overpayments in excess of the 10 per cent annual allowance will also be subject to the early repayment charge.
The new mortgage products are offered by Northern Rock plc and are available through registered mortgage intermediaries.