The lending arm of Richard Branson’s mega corporation Virgin, Virgin Money sent out an email to mortgage brokers today to announce that they have launched some new exclusive mortgage broker rates for residential and buy-to-let borrowing. As members of the PRIMIS mortgage network, Oportfolio luckily has access to these new rates. The same can’t be said for other brokers. As rates rise and products are becoming scarcer on the market (especially buy-to-let) it is time for borrowers to make the most of mortgage advisors like Oportfolio, who can access the exclusive rates and products.
Here is a roundup of the new exclusive mortgage broker rates and products
- New exclusive purchase deal with £300 cashback = New 85% LTV 2 Year Fixed Rate with £1,295 fee at 5.89%
- Exclusive remortgage deals with £300 cashback =
– 75% LTV 2 Year Fixed Rate with £1,295 fee at 5.59%.
– New 75% LTV 5 Year Fixed Rate with £1,295 fee at 5.45%.
– An exclusive BTL 60% LTV 2 Year Fixed Rate with £1,295 fee at 5.99%.
– BTL 60% LTV 5 Year Fixed Rate with £1,295 fee at 5.69%.
Virgin Money also announced that they will be introducing an environmentally friendly reward scheme for existing residential and BTL mortgage customers. The scheme is called the Green Reward scheme. It will incentivise borrowers to make eco-friendly home improvements to their property such as insulation, double glazing, solar Pannels etc… by offering £250 cashback when they take additional borrowing to make these improvements.
What The Mortgage Experts Say
Louis Mason from Oportfolio mortgages comments:
“A lot of people only associate Virgin with the music company, or the travel company. But Virgin Money has always been a good resource for our brokers at Oportfolio. Unfortunately, as of late, a lot of lenders (including high-street banks) have reduced the number of products that they have been offering to borrowers. This is especially true of Buy-to-let lenders who have either tightened their affordability or completely stopped lending on rental properties for the time being.
When any lender returns to the market with new exclusive mortgage broker rates, I get excited because I know that we will be able to give our clients more options. Despite the rates not being amazing compared to the ones we have been used to over the last few years, these products are still very useful and beneficial to our clients. I look forward to seeing more lenders returning to the market.”
If you or anyone you know is interested in making the most of Virgin Money’s exclusive rates through Oportfolio, or just want to talk to an advisor about your options, please feel free to give us a call. We are here to help.