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Virgin Money launches high LTV and broker-only exclusive remortgages

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  • 25/01/2019
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Virgin Money launches high LTV and broker-only exclusive remortgages
Virgin Money has reduced rates on some of its high loan to value (LTV) fixed rate mortgages and launched a number of intermediary-only exclusive remortgages, which went live today.

 

The lender launched two-year fixes at 1.92% for a 85% LTV loan with a £995 fee, another at 90% LTV at 1.94% with the same fee and a 95% LTV, fee-free at 2.99%.

The lender is also offering fee-free three and five-year fixes at 95% LTV at 3.39%.

Andrew Asaam, director of mortgages at Virgin Money, (pictured) said: “Over the next six months it is estimated that 185,000 first-time buyers will be coming to the end of their current mortgage deal. Therefore we are delighted to support these customers who may be switching for the first time or have lower equity in their homes by launching a range of new higher LTV fixed rate products.”

Financial research company Smart People research revealed Coventry Building Society and Virgin Money as the best overall mortgage lenders in 2018 as rated by mortgage brokers.

Building societies overall performed best among brokers, with the sector outperforming banks.

In October last year, Clydesdale Banking Group completed a £1.7bn takeover of Virgin Money and Virgin chief executive Jayne-Anne Gadhia stepped down to join the bank as a senior adviser.

The banks will continue to operate as separate brands for the ‘time being.’

 

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