Virgin Money launches 3-year fixed rate deals

Michael Lloyd

January 7, 2020

Virgin Money has launched residential and buy-to-let 3-year fixed rate deals.  

The new offerings are at the same rates as its 2-year fixed rate deals.

One of the new ‘three for two’ rates is a 3-year residential fixed rate at 90% LTV at the 2-year fixed rate of 2.13% which comes with no product fee.

The other is a buy-to-let 3-year fixed rate at 75% LTV at the 2-year fixed rate of 1.56% with a £1995 fee.

Andrew Asaam, head of mortgages for Virgin Money, said: “We’re delighted to launch these special offers at the start of 2020 and we hope these deals will help more customers to find their perfect home.

“By launching the new ‘three for two’ rates we’re offering customers an extra year’s peace of mind for no additional cost.”

Virgin Money has also launched an intermediary exclusive 5-year fixed rate residential mortgage.

Priced at 1.49% and available at 65% LTV, it comes with a £1,495 fee and offers £300 cashback for purchases.

The offering also includes free valuation and legal fees for remortgage customers.

The lender has cut rates across its wider residential and buy-to-let mortgages.

Within the residential range without a product fee, the 2-year fix at 85% LTV saw its rate drop to 2.13% while the 5-yaer fix saw its rate decrease to 2.34%.

Meanwhile, the shared ownership 2-year fix at 95% LTV, which also does have a product fee, saw its rate cut to 3.27%.

Selected Help to Buy equity loans at 55% LTV and 75% LTV had its rates reduced by up to 0.40%.

Within the buy-to-let range, the 2-year fix up to 80% LTV saw its rate cut to 3.25%.

This comes with a £995 fee.

In addition, the 3-year fixed rate up to 60% LTV which comes with a £1,995 fee, saw its rate drop to 1.56%.

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