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
7 DAY SPECIAL REMORTGAGE EXCLUSIVES
Great news. We’re reducing the rates on selected remortgage and purchase Exclusives on Tuesday 1 August.
What’s more, our reduced remortgage Exclusive deals will be available for 7 days, until 8pm on Tuesday 7 August. We hope this extended period of availability gives you extra time to review our reduced rates with your customers and submit a case.
Remortgage Exclusives – 7 Day Special
- 70% LTV 2 Year Fixed Rate with £1,495 fee and £500 cashback will be reduced by 0.16% to 5.90%.
- 70% LTV 5 Year Fixed Rate with £1,495 fee and £500 cashback will be reduced by 0.19% to 5.40%.
- 50% LTV 5 Year BTL Fixed Rate with £2,195 fee will be reduced by 0.06% to 5.30%.
- 60% LTV 5 Year BTL Fixed Rate with £2,195 fee will be reduced by 0.06% to 5.35%.
- 75% LTV 5 Year BTL Fixed Rate with £2,195 fee will be reduced by 0.11% to 5.55%.
These 7 Day Special Remortgage Exclusives are available until 8pm on 7 August.
Purchase Exclusives with free valuation and £1,295 fee
- 65% LTV 2 Year Fixed Rate will be reduced by 0.35% to 5.80%.
- 75% LTV 2 Year Fixed Rate will be reduced by 0.30% to 5.85%.
- 85% LTV 2 Year Fixed Rate will be reduced by 0.18% to 6.03%.
- 90% LTV 2 Year Fixed Rate will be reduced by 0.14% to 6.20%.
- 65% LTV 5 Year Fixed Rate will be reduced by 0.41% to 5.25%.
- 75% LTV 5 Year Fixed Rate will be reduced by 0.39% to 5.27%.
- 85% LTV 5 Year Fixed Rate will be reduced by 0.26% to 5.50%.
- 90% LTV 5 Year Fixed Rate will be reduced by 0.15% to 5.65%.
Product Transfer
- 65% & 75% LTV 2 Year Fixed Rates will be reduced by up to 0.08%, starting from 6.13%.
You can find our current rates in our Mortgage Update. If you’ve got any questions, you can get in touch with your Business Development Manager.
WE’RE MAKING CHANGES TO OUR TRACKER MORTGAGES
Following today’s decision by the Monetary Policy Committee to increase the Bank of England Base Rate to 5.25%, we’re increasing our tracker mortgage rates.
Our updated tracker rates will be available from 4 August 2023 and reflect the change to the Bank of England Base Rate. Our tracker differential will stay the same.
What about customers already in the pipeline
Pre-Offer, including applications received todayYour customer’s application will go through as normal and we’ll make an Offer that reflects the new Bank of England Base Rate.
Post-Offer (pre-completion) including Offers issued todayWe’ll write to your customer to let them know about the updated Bank of England Base Rate and how it affects their monthly payment.
Completed up to and including todayThese applicants will be treated as existing customers – take a look at the paragraph below for what that means.
What happens with existing customers
Customers whose mortgage rates are directly linked to the Bank of England Base Rate will be contacted to let them know their monthly payment will change on 1 October 2023, as per their mortgage terms and conditions.
You can find our current rates in our Mortgage Update. If you’ve got any questions, you can get in touch with your Business Development Manager.
WE’RE MAKING CHANGES TO OUR TRACKER MORTGAGES
Following today’s decision by the Monetary Policy Committee to increase the Bank of England Base Rate to 5.25%, we’re increasing our tracker mortgage rates.
Our updated tracker rates will be available from 4 August 2023 and reflect the change to the Bank of England Base Rate. Our tracker differential will stay the same.
What about customers already in the pipeline
Pre-Offer, including applications received todayYour customer’s application will go through as normal and we’ll make an Offer that reflects the new Bank of England Base Rate.
Post-Offer (pre-completion) including Offers issued todayWe’ll write to your customer to let them know about the updated Bank of England Base Rate and how it affects their monthly payment.
Completed up to and including todayThese applicants will be treated as existing customers – take a look at the paragraph below for what that means.
What happens with existing customers
Customers whose mortgage rates are directly linked to the Bank of England Base Rate will be contacted to let them know their monthly payment will change on 1 October 2023, as per their mortgage terms and conditions.
You can find our current rates in our Mortgage Update. If you’ve got any questions, you can get in touch with your Business Development Manager.