3-yr fixed rate mortgage improves position | Product News - Moneyfacts

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3-yr fixed rate mortgage improves position

3-yr fixed rate mortgage improves position

Category: Mortgages
Date: 25/09/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Virgin Money has reduced the price of its three-year fixed deal by 0.07%, enabling it to improve its standing in the Moneyfacts charts.


The basics…

This deal now has a rate of 2.48% fixed until 1.1.2019, one of the lowest rates in its sector. It is available at a loan-to-value (LTV) of 85% and has a fee of £995.


The finer details…

This mortgage is available to all borrowers with a 15% deposit. House purchase customers can benefit from an incentive package of a £300 rebate, while those looking to remortgage can profit from free legal fees and free valuation.

Borrowers are also given some repayment flexibility, with both overpayments and payment holidays permitted, provided certain conditions are met.


Why we like it…

The rate reduction has made this competitive deal even more so, which is bound to appeal to borrowers with the right deposit. The accompanying incentive package is also very generous, particularly for remortgagors, while all borrowers can feel the benefit of flexible repayment options.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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