New range and broker exclusive from Virgin Money

Essex Home Finance
Virgin Money has made changes to its residential and buy-to-let mortgage product offering.
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Virgin Money has made changes to its residential and buy-to-let mortgage product offering.

In addition, the lender has also launched a new intermediary exclusive product at 65% loan to value (LTV).

It is a five-year fixed rate at 1.42%, available for both purchase and remortgage. It comes with a £1,495 fee.

The other product changes are effective from 13 November and are follows:

Core residential:

  • Reduced 65% LTV 5 Year £995 fee by 0.33bps to 1.61%
  • Reduced 65% LTV 5 Year fee-saver by 0.49bps to 1.99%
  • Reduced 75% LTV 5 Year £995 fee by 0.09bps to 2.13%
  • Reduced 85% LTV 2 Year £995 fee by 0.33bps to 2.99%
  • Reduced 85% LTV 3 Year £995 fee by 0.18bps to 3.24%
  • Reduced 85% LTV 5 Year £995 fee by 0.25bps to 3.24%

Core buy-to-let:

  • Reduced 60% LTV 2 Year £1,995 fee by 0.16bps to 1.71%
  • Reduced 60% LTV 3 Year £1,995 fee by 0.16bps to 1.71%
  • Reduced 60% LTV 5 Year £1,995 fee by 0.25bps to 1.98%
  • Reduced 60% LTV 5 Year £995 fee by 0.20bps to 2.11%
  • Reduced 75% LTV 2 Year £1,995 fee by 0.16bps to 1.74%
  • Reduced 75% LTV 3 Year £1,995 fee by 0.16bps to 1.74%
  • Reduced 75% LTV 5 Year £1,995 fee by 0.25bps to 1.99%
  • Reduced 75% LTV 5 Year £995 fee by 0.20bps to 2.14%

Core buy-to-let portfolio:

  • Reduced 60% LTV 2 Year £1,995 fee by 0.16bps to 1.81%
  • Reduced 60% LTV 5 Year £1,995 fee by 0.25bps to 2.08%
  • Reduced 60% LTV 5 Year £995 fee by 0.20bps to 2.21%
  • Reduced 75% LTV 2 Year £1,995 fee by 0.16bps to 1.84%
  • Reduced 75% LTV 5 Year £1,995 fee by 0.25bps to 2.09%
  • Reduced 75% LTV 5 Year £995 fee by 0.20bps to 2.24%

Virgin Money also announced product transfer changes yesterday which are effective now:

Core residential product transfers:

  • Increased 65% LTV 5 Year fee-saver by 0.06bps to 1.70%
  • Increased 85% LTV 2 Year £995 fee by 0.36bps to 2.35%
  • Increased 85% LTV 2 Year fee-saver by 0.24bps to 2.68%
  • Increased 85% LTV 3 Year £995 fee by 0.41bps to 2.54%
  • Increased 85% LTV 3 Year fee-saver by 0.34bps to 2.87%
  • Increased 85% LTV 5 Year £995 fee by 0.37bps to 2.59%
  • Increased 85% LTV 5 Year fee-saver by 0.21bps to 2.78%
  • Increased 90% LTV 3 Year fee-saver by 0.10bps to 2.98%

Original Article from Best Advice 12/11/2020

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Essex Home Finance

(01245) 398466

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Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE.

Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).

There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. 

Our advice is covered under the Financial Ombudsman Service.  You may be able to submit a claim through the  EU Online Dispute Resolution Platform If you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.