Virgin Money has launched a range of seven and 10-year fixed rate residential mortgages.
The products are available for house purchase, remortgage and product transfer, with remortgage customers also benefiting from a free valuation and free legal work.
Selected purchase products also include cashback of up to £300.
The new residential products are as follows:
- Seven-year fixed rate at 65% LTV at 2.37% (£995 product fee)
- Seven-year fixed rate at 75% LTV at 2.42% (£995 product fee)
- Seven-year fixed rate at 90% LTV at 2.95% (no product fee)
- 10-year fixed rate at 65% LTV at 2.59% (£995 product fee)
- 10-year fixed rate at 75% LTV at 2.65% (£995 product fee)
- 10-year fixed rate at 90% LTV at 3.25% (£995 product fee)
The products are designed to be flexible to customer’s changing circumstances, being portable to a new property and allowing 10% capital repayments per year without charge.
Andrew Asaam, director of mortgages at Virgin Money, said: “We’re delighted to launch our new long term fixed rate mortgages. We have seen an increased appetite from customers wanting the opportunity to future-proof their mortgage repayments.
“With interest rates still relatively low we’re offering homeowners the peace of mind of low mortgage payments for the next seven to 10 years.”