Virgin Money offering decent four-year fix at 2.79%
Virgin Money is offering one of the lowest longer-term fixed rate mortgages at the moment.
Their 2.79% four-year fixed rate is more attractive than nearly all of the other high street lenders four and five year mortgages, particularly as they are in the process of hiking many of the five-year fixes.
Borrowers will need a 30% deposit to access this rate, it has a £995 arrangement fee and a £99 booking fee. It is available for both purchase and remortgage customers and the maximum loan size is £1 million.
Virgin Money provide remortgage customers with a free property valuation and legal services. After the fixed rate period the mortgage reverts to the lenders standard variable rate, currently 4.79%, and the APR is 4.4%.
Aaron Strutt, product and communications manager at Trinity Financial says: “Traditionally, we see more two, three and five-year products from lenders but some borrowers will like the idea of locking in a rate for four years as opposed to five.â€
This rate is an exclusive mortgage available to intermediaries and Trinity has access to it. If you are looking for a best buy mortgage call us on 020 7016 0790.
February 7, 2014