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
We’re reducing selected trackers and increasing fixed rates
We wanted to let you know that we’re making some changes to the following Virgin Money products on Friday 2 June.
Core and Product Transfer
- Selected residential and BTL trackers will be reduced with rates starting from 4.75%.
We’ll also be making these changes at 8pm today:
- Exclusive residential and BTL fixed rates will be increased by up to 0.55%.
- Core residential and BTL fixed rates will be increased by up to 0.55%.
- Product Transfer residential and BTL fixed rates will be increased by up to 0.50%.
The end dates will move to October of the relevant year.
If you’re applying for one of these products on behalf of your customer, please send us the application as soon as possible.
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 or dedicated Regional Service Team.
WE’VE MADE CHANGES TO OUR RATES
Following the decision by the Monetary Policy Committee to increase the Bank of England Base Rate on 23 March 2023 and 11 May 2023, we’ve made some changes. On 6 June 2023, we increased our Standard Variable Rate to 8.74% and our Buy to Let Variable Rate to 8.94%.
What happens with existing customers
Customers affected by the changes to our Standard Variable Rate or Buy to Let Variable Rate will be contacted to let them know their rate and monthly repayment will change on 1 July 2023.
If you’ve got any questions, you can get in touch with your Business Development Manager or dedicated Regional Service Team.