Virgin Money has reduced the rate on its two-year variable tracker mortgage by 0.10%, bolstering its place among the top 10 for its sector.
This tracker mortgage now has a competitive variable rate of 2.09% at a loan-to-value (LTV) of 60%. A £1,094 fee is payable.
This mortgage is available to first-time buyers, second-time buyers and landlords looking to remortgage. All borrowers can benefit from an enticing incentive package that consists of a £500 rebate.
Borrowers can have a great deal of flexibility over their repayments with the ability to make overpayments of up to 10% of the outstanding balance per year as well as the option to take payment holidays.
This mortgage was already well-placed on the Moneyfacts charts but this latest rate cut has shored up its position among its rivals. Landlords with the right deposit are likely to be attracted by this rate, and the £500 rebate adds extra appeal.
Four Moneyfacts Stars have been awarded.
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