Virgin Money has cut selected interest rates across its residential Fee Saver mortgage range, which don’t have any product arrangement fees.
Changes to the Fee Saver range include:
Two-year fixed rates
- Up to 60% LTV reduced by 0.16 basis points to 3.09%
- Up to 70% LTV reduced by 0.16 basis points to 3.19%
- Up to 75% LTV reduced by 0.40 basis points to 3.69%
Five-year fixed rates
- Up to 70% LTV reduced by 0.24 basis points to 3.55%
- Up to 75% LTV reduced by 0.69 basis points to 3.99%
Tracker rates
- Two-year trackers up to 70% LTV reduced by 0.16 basis points to 3.19%
- Three-year trackers up to 70% LTV reduced by 0.20 basis points to 3.45%
Customers remortgaging from another lender who take a Fee Saver product will also benefit from free standard legal services and a free basic valuation.
“Many mortgages with eye-catching headline rates also require the customer to pay a large arrangement or product fee, and some of these fees have gone up recently,” said Anthony Mooney, director of mortgages and savings at Virgin Money.
“While these products are attractive to some customers, many customers want the simple combination of an attractive interest rate with no arrangement fee. In recognition of that, we are reducing rates on Virgin Money’s Fee Saver range, which have no product arrangement fees.”
