5-yr Help to Buy mortgage is ‘outstanding’ | Product News - Moneyfacts

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5-yr Help to Buy mortgage is ‘outstanding’

5-yr Help to Buy mortgage is ‘outstanding’

Category: Mortgages
Date: 23/04/2015

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 It is now over 6 months old so the content may be out of date.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 selected mortgage rates, with its five-year Help to Buy mortgage receiving a 0.10% reduction, enabling it to improve its position in the Moneyfacts charts.

The basics…

This mortgage now has a rate of 4.89% fixed until 1.7.20. It is available at a loan-to-value (LTV) of 95% and has a low fee of just £99.

The finer details…

This deal is only open to house purchase customers with a modest deposit of 5%. All borrowers can benefit from a generous incentive package of a £300 rebate upon completion.

Repayment flexibility is also offered, with overpayments and payment holidays permitted provided certain conditions are met.

Why we like it…

Home buyers looking to take advantage of the Help to Buy scheme are likely to pay close attention to this latest update. This deal was already competitive, but the rate reduction has improved its position among its competitors, shoring up its position in the charts. As well as an attractive rate, the bonus of a low fee and a generous rebate cements this mortgage's appeal. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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