Virgin Money has reduced the rates of selected fixed rate mortgages by up to 0.40%, earning one of its five-year deals an 'outstanding' rating.
After receiving the benefit of the full 0.40% reduction, this five-year mortgage now has a rate of 3.19% fixed until 1.5.20, enabling it to sit comfortably in the Moneyfacts charts. It is available at a loan-to-value (LTV) of 85% and has a fee of £1,094.
This deal is open to first-time buyers, homemovers and remortgagors with a 15% deposit. House purchasers can benefit from an incentive package of a £300 rebate, while those looking to remortgage can profit from free legal fees and free valuation.
Repayment options are flexible, with both overpayments and payment holidays permitted provided certain conditions are met.
This mortgage now boasts a competitive rate, something that is sure to trigger the attention of eager borrowers. The appeal is further enhanced by the generous incentive package, which helps to offset the cost of the product fee. The flexible repayment options are also a welcome addition, and ensure that this product sits favourably in the Moneyfacts charts. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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