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
NEW EXCLUSIVES AND FIXED RATE REDUCTIONS
We wanted to let you know that we’re launching the following products on Tuesday 9 January.
Purchase Exclusives with £500 cashback
- NEW 65% LTV 2 Year Fixed Rate with £1,295 fee at 4.57%.
- NEW 75% LTV 2 Year Fixed Rate with £1,295 fee at 4.62%.
- NEW 90% LTV 2 Year Fixed Rate with £1,295 fee at 4.97%.
- NEW 90% LTV 5 Year Fixed Rate with £1,295 fee at 4.48%.
- NEW 65% LTV 2 Year Fixed Rate fee-saver at 4.89%.
- NEW 75% LTV 2 Year Fixed Rate fee-saver at 4.99%.
- NEW 90% LTV 2 Year Fixed Rate fee-saver at 5.32%.
- NEW 90% LTV 5 Year Fixed Rate fee-saver at 4.82%.
Professional Purchase & Remortgage Exclusives
- NEW 75% LTV 2 Year Fixed Rate fee-saver at 5.22%.
- NEW 85% LTV 2 Year Fixed Rate fee-saver at 5.77%.
- NEW 90% LTV 2 Year Fixed Rate fee-saver at 5.85%.
- NEW 70% LTV 5 Year Fixed Rate fee-saver at 4.90%.
- NEW 60% LTV 5 Year Fixed Rate fee-saver at 4.99%.
- NEW 70% LTV 5 Year Fixed Rate fee-saver at 5.15%.
The Professional range is available to applicants who are fully qualified and employed in one of the following occupations: Accountant, Architect, Barrister, Chartered Surveyor, Engineer, Financial Adviser, Medical, Pilot, Police Officer, Solicitor, Teacher or Vet.
Further selected reductions
- Purchase Exclusives will be reduced by up to 0.23%, with rates starting from 4.19%.
- Remortgage Exclusives with 1% fee will be reduced by up to 0.25%, with rates starting from 4.34%.
- BTL Exclusives will be reduced by up to 0.20%, with rates starting from 4.32%.
- £1m+ Purchase & Remortgage Exclusives will be reduced by up to 0.21%, with rates starting from 4.77%.
- Product Transfer residential fixed rates will be reduced by up to 0.74%, with rates starting from 3.92%.
In addition, at 8pm on Monday 8 January, the following products will be withdrawn:
Purchase Exclusives with free valuation
- 90% LTV 2 Year Fixed Rate with £1,295 fee at 5.19%.
- 90% LTV 5 Year Fixed Rate with £1,295 fee at 4.71%.
- 90% LTV 2 Year Fixed Rate fee-saver at 5.53%.
- 90% LTV 5 Year Fixed Rate fee-saver at 4.82%.
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.
OUR LENDING POLICY’S BEEN UPDATED
We’ve been busy giving parts of our intermediary website a Virgin Money makeover. It’s not done and dusted just yet, but we couldn’t wait to give you a sneak peek of what’s already live.
What’s new?
We’ve added advanced search features to the all-important Lending Criteria, so you’ll easily be able to find what you’re looking for. And we’ve made our BTL Criteria easier to navigate by giving it its own dedicated space.
Check out the changes
Our updated Lending Criteria is live right now, so head over and give it a spin – and do keep checking back, as we’ll be making more improvements to our website along the way.
We’ve also added a new Packaging Requirement section so you’re in the know about what we ask for.
If you’ve got any questions, your Business Development Manager is the best person to answer them.
WE’RE REDUCING RATES
We wanted to let you know that we’re reducing the rates on the following Virgin Money products on Friday 12 January.
Purchase Exclusives with £500 cashback
- 2 Year fixed rates with £1,295 fee will be reduced by up to 0.16%, starting from 4.47%.
- 5 Year fixed rates with £1,295 fee will be reduced by up to 0.27%, starting from 3.92%.
- 2 Year fixed rate fee-savers will be reduced by up to 0.30%, starting from 4.79%.
- 5 Year fixed rate fee-savers will be reduced by up to 0.35%, starting from 4.25%.
Professional Purchase Exclusives with £300 cashback
- 2 Year fixed rate fee-savers will be reduced by up to 0.80%, starting from 4.87%.
- 5 Year fixed rate fee-savers will be reduced by up to 0.64%, starting from 4.26%.
Remortgage Exclusives with 1% Fee
- 60% LTV 2 Year Fixed Rate with 1% fee will be reduced by 0.10%, at 4.24%.
- 70% LTV 2 Year Fixed Rate with 1% fee will be reduced by 0.10%, at 4.39%.
Product Transfer
- 65% LTV 2 & 5 year fixed rates with £1,495 fee will be reduced by 0.04%, starting from 3.88%.
- 65% & 75% LTV 2, 3 & 5 year fixed rates with £995 fee will be reduced by up to 0.09%, starting from 3.93%.
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.