Paradigm secures Virgin Money exclusives
Caerus members exclusively use Paradigm Mortgages Services as their sole distributor and these Virgin Money remortgage and purchase products are now available to their clients.
The new exclusive deals are:
• A 2-year Freedom to Fix Tracker at 1.44% up to 65% LTV, with a £995 fee.
• A 5-year fixed rate at 3.65% up to 90% LTV, with a £1,195 fee.
The Freedom to Fix product offers the benefits of an attractive rate with the added security of the client being able to switch to a fixed rate – a feature which, given the speculation about rising rates may be deemed useful.
This deal also comes with a 20% overpayment facility, which is ideal for customers who expect to receive bonuses or dividends and want to use this towards reducing their mortgage term.
Other key features of these products include no application fee, a free valuation for residential remortgage customers and also £250 cashback to remortgage customers, which is also available on the five-year 90% LTV deal for purchase customers.
John Coffield, head of Paradigm Mortgage Services, said: “These new product exclusives especially for members of Caerus Financial Ltd are the result of our very strong relationship with the team at Virgin Money and have been designed specifically for the needs of their clients.
“The Freedom to Fix product is particularly interesting, especially in a market environment where there have been numerous rumblings about impending interest rate rises. It offers clients the benefits initially of a low-tracker rate plus the option of switching to a fix if the client feels it is necessary.
“It’s also important for our members to recognise the service Virgin Money offers and the commitment it gives; it will issue an offer to the client within 10 working days of receiving a fully-packaged application, or it will give the client £100.
“In a market which is likely to become increasingly busy and competitive throughout the year, it is pleasing to see a lender willing to put its money where its service mouth is.”