Virgin Money launches 2.29% broker-only five-year fix
Virgin Money for Intermediaries has launched an impressive five-year fixed rate mortgage at 2.29%. The overall cost for comparison is 4.1% APR.
It is available for mortgages between £150,000 and £1 million and borrowers will need a 35% deposit to qualify.
There is a £1,495 arrangement fee and early repayment charges apply for the full five-years.
Aaron Strutt, product manager at Trinity Financial, says: “If you are looking for long term payment security, mortgages don’t get much better that Virgin’s latest five-year fix. It is an exclusive available through selected brokers.
“Virgin provides a free property valuation and legal service for customers looking to remortgage, keeping the cost of switching lenders to a minimum.”
The monthly payments on a £500,000 interest-only mortgage would be £979.17 or £2,205.50 on full capital repayment over a 25-year term. Virgin Money also offers part interest-only and part capital repayment mortgages.
After the fixed rate period the mortgage reverts to the lenders standard variable rate, currently 4.79%.
If you would like help to secure a leading mortgage, call Trinity on 020 7016 0790.
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