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Virgin Money reduces rates

Nia Williams

November 13, 2012

Rates in the range – which offers customers loans starting from 3.09% without any product arrangement fees – have been reduced by up to 0.69% up to 75% loan to value.

And remortgage customers will also benefit from no legal or valuation fees.

Changes to the Fee Saver range include:

Two year fixed rates:

Up to 60% LTV reduced by 0.16% to 3.09%

Up to 70% LTV reduced by 0.16% to 3.19%

Up to 75% LTV reduced by 0.40% to 3.69%

Five year fixed rates:

Up to 70% LTV reduced by 0.24% to 3.55%

Up to 75% LTV reduced by 0.69% to 3.99%

Tracker rates:

Two year trackers up to 70% LTV reduced by 0.16% to 3.19%

Three year trackers up to 70% LTV reduced by 0.20% to 3.45%

Anthony Mooney, director of mortgages and savings at Virgin Money, said: “Many mortgages with eye-catching headline rates also require the customer to pay a large arrangement or product fee and some of these fees have gone up recently.

“While these products are attractive to some customers many want the simple combination of an attractive interest rate with no arrangement fee. In recognition of this we are reducing rates on Virgin Money’s Fee Saver range.”


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