Virgin Money has announced an important product update for advisers. Virgin Money products and support with the lender, including same day payment on completion, is all available accessible through our direct to lender mortgage club. Contact us for more information.
ANNOUNCEMENTS
A NEW DEAL FOR YOUR CUSTOMERS
Hello Stephen, as part of the improvements we’re making to our lending criteria, there’s another business-boosting change coming your way.
Here’s the lowdown
We’re lowering our BTL and Residential mortgage minimum term from seven, to five years. It’s so we can make it even easier for you to do business with us, and provide your customers with more mortgage choice.
Just so you know
The chosen term has to extend beyond the initial product’s end date. So, for instance, if a customer is looking for a five-year term, they’d need to take a two, or three-year product.
Any questions?
If you’ve got questions about this or any other updates to our lending criteria, your BDM is the best person to answer them.
WE’RE INCREASING SELECTED RATES AND LAUNCHING NEW FIX AND SWITCH REMORTGAGE DEALS
We wanted to let you know that we’re launching the following Virgin Money products on Wednesday 1 May.
Exclusive Remortgage – Fix and Switch deals with 2 year ERC
- NEW 85% LTV 5 Year Fixed Rate with £1,495 fee at 5.54%.
- NEW 85% LTV 5 Year Fixed Rate fee-saver at 5.89%.
We’ll also be making these changes at 8pm on Tuesday 30 April:
- 85% & 90% LTV Fix and Switch purchase rates will be increased by up to 0.10%, starting from 5.27%.
- 75% LTV Fix and Switch remortgage rates will be increased by 0.10%, starting from 5.09%.
- 60% and 75% BTL Fix and Switch rates will be increased by up to 0.15%, starting from 5.07%.
- 90% LTV Exclusive purchase fixed rates will be increased by up to 0.08%, starting from 4.87%.
- Selected Exclusive remortgage fixed rates will be increased by up to 0.16%, starting from 4.54%.
- £1m+ Exclusive purchase & remortgage fixed rates will be increased by up to 0.20%, starting from 4.90%.
- Exclusive BTL fixed rates will be increased by up to 0.10%, starting from 4.07%.
- Selected Product Transfer fixed rates will be increased by up to 0.10%, starting from 4.43%
If you’re applying for one of these products on behalf of your customer, please send us the application by 8pm today.
You can find our current rates in our Product Guide. If you’ve got any questions, you can get in touch with your Business Development Manager or dedicated Mortgage Service Team.
SHAPE THE FUTURE OF HOME ENERGY: WE NEED YOUR FEEDBACK
Rising energy costs are a big concern for many homeowners. As their trusted advisor, your expertise in helping them improve their home’s energy efficiency is invaluable.
We’re committed to developing mortgage solutions that support energy-efficient upgrades. And this is where we need your help.
We’d love to know what information, tools, or resources would be most helpful for you and your customers to navigate energy-efficient home improvements.
Your valuable feedback will directly influence the products, features and support we offer.
If you have a few minutes spare to share your thoughts, please complete our brief survey by 5pm on 12 May 2024. All responses are confidential.