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Virgin Money reduces rates

Robyn Hall

May 10, 2012

Its 2-year residential fixed rates and trackers are now available from 2.04% and a 2-year buy-to-let fixed rate at 2.99% is available exclusively through intermediaries.

Peter Rogerson, commercial director for mortgages and =savings at Virgin Money, said: “We are pleased to support borrowers with these lower rates for residential mortgage customers.

“ We are also continuing to help buy-to-let customers.”

Key residential changes

2-year fixed rates

• 60% LTV with a £995 product fee reduced to 2.04%

• 60% LTV Fee Saver Option reduced to 2.45%

• 80% LTV reduced to 2.85% with a £995 product fee – with £300 cash back for purchase customers

3-year fixed rates

• 70% LTV reduced to 2.29% with a £995 product fee

• 80% LTV reduced to 3.25% with a £995 product fee – with £300 cash back for purchase customers

• 85% LTV reduced to 3.69% with a £995 product fee – with £300 cash back for purchase customers

Tracker range

• 2-year trackers up to 70% LTV reduced to 2.04% with a £995 product fee

• 2-year trackers up to 80% LTV reduced to 2.85% with a £995 product fee

• 3-year trackers up to 80% LTV reduced to 3.25% with a £995 product fee

Key buy-to-let changes

• New 2-year intermediary exclusive fixed rate available at 2.99% (60% LTV, £2,495 product fee)

• 2-year fixed rates up to 60% LTV reduced to 3.38% (£1,995 product fee)

• Cashback of £750 remains available across the buy-to-let range (excluding intermediary exclusives)


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