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Virgin Money temporarily scraps residential application fee

Written by: Emma Lunn
Virgin Money has reduced a number of mortgage rates and removed its £99 residential application fee for a limited period.
Residential fixed rates have been reduced by up to 0.2% and intermediary exclusive two-year fixed rates have been cut by up to 0.25%.

Its two-year fixed rate at 90% loan-to-value (LTV) has been reduced by 0.14% to 3.49%, with no product fee and £500 cashback for first-time buyers and £300 cashback for home movers. Virgin has dropped the rate on the five-year fixed deal at 90% LTV by 0.20% to 3.99%. The mortgage comes with no product fee and £500 cashback for first-time buyers and £300 cashback for home movers.

Changes to its intermediary exclusive product range include its two-year fixed rate at 80% LTV reduced by 0.21% to 1.88% which comes with a £995 product fee and £300 cashback for purchases and a 0.25% reduction in its two-year fixed rate for new build customers at 85% LTV to 2.14%, with a £995 product fee, £500 cashback for first-time buyers and £300 cashback for other purchases.

Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “We’re delighted to announce these latest improvements to our residential mortgage range which includes the removal of the £99 application fee for a limited period. We continue to develop our mortgage proposition in line with the commitments we announced earlier in the year and help borrowers across all segments of the mortgage market.”

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