Virgin Money has announced big cuts to their fixed-rate mortgages, with some rates dropping by as much as 0.29%. This means you could save serious money on your monthly repayments.

What’s changed?

• Fixed-rate deals get cheaper: Virgin Money has reduced rates across its two and five-year fixed-rate mortgages for both purchases and remortgages.
• Five-year fixes under 4%: That’s right! You can now lock in a five-year fixed rate mortgage with Virgin Money for less than 4% on certain deals. This applies to both 65% and 75% loan-to-value (LTV) mortgages.
• Cashback deals still available: Virgin Money is still offering £300 cashback on some of its purchase mortgages, alongside the rate cuts.

Here are some examples of the new rates:

• Two-year fixed rate: 4.43% for a 65% LTV mortgage with a £995 fee (down by 0.24%).
• Five-year fixed rate: 3.99% for a 65% or 75% LTV mortgage with a £995 fee (down by 0.21%).

What about remortgages?

• Lower rates for remortgagers: Virgin Money has also cut rates across its range of remortgage products.
• Cheaper two-year fixes: You can now get a two-year fixed-rate remortgage with a 60% LTV for 4.40% with a £995 fee (down by 0.19%).
• Five-year fixes also reduced: A five-year fixed-rate remortgage with a 60% LTV is now available for 4.06% with a £995 fee (down by 0.17%).

Don’t miss out!

These rate cuts make it a great time to consider buying a home or remortgaging your existing property. Get in touch with a mortgage broker or contact Virgin Money directly to see how much you could save.