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Virgin Money cuts rates

Robyn Hall

September 27, 2013

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


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