Mortgages  

Virgin Money cuts rates on Rapid Remortgage range

Virgin Money has announced a number of rate reductions on its Rapid Remortgage range.

There is now a 2-year fixed rate available at 1.77 per cent and a 5-year fixed rate available at 2.69 per cent, both at 65 per cent LTV with a £995 product fee.

The £99 application fee is waived for all remortgage deals for a limited period.

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For Rapid Remortgage products, there is a 2-year fixed rate reduced to 1.77 per cent, a 4-year fixed rate reduced to 2.49 per cent, and a 5-year fixed rate reduced to 2.69 per cent all available up to 65 per cent LTV, with a £995 product fee.

The Rapid Remortgage products aim to present an offer to the customer within 10 days of receiving a fully packaged application.

The Rapid Remortgage products are available through all intermediaries registered with a Virgin Money national account for a limited period only.

On the residential core range, Virgin Money has also made some fixed rate deals previously only available to customers with a 40 per cent deposit available to those with a 35 per cent deposit.

The 65 per cent LTV extension also applies to the larger loans range of intermediary exclusives.

A 5-year fixed rate is now available at 2.59 per cent with a £1,495 product fee.

Peter Rogerson, savings and mortgages director of Virgin Money, said: “Our Rapid Remortage range offers attractive and competitive rates, and we expect them to continue to be popular with customers looking to move their mortgage before Christmas.”

emma.hughes@ft.com