Virgin shakes up mortgage range with ‘three for two’ mortgage deals


Customers are being offered an extra year’s peace of mind at no additional cost with the launch of a new range of fixed-rate mortgages from Virgin Money.

Borrowers can now get a fixed-rate residential or buy-to-let mortgage over three years at the same rate as a two-year term.

The new ‘three for two’ residential mortgages are available up to 90% loan to value (LTV) at an initial rate of 2.13% up to 1 May 2022 or 2023. Borrowers will also benefit from zero product fees, free valuation and free legal fees for those remortgaging. Plus an added incentive of £300 cashback for house purchases.

According to, the three-year deal is in fifth place in their ‘90% LTV three-year fixed mortgage chart’ (the two-year deal doesn’t make the top ten).

Buy to let borrowers benefit too

Moneyfacts places the new buy-to-let mortgage range second for the ‘best interest rate for a buy-to-let mortgage at 75% LTV over a two or three-year fixed-term’. The new Virgin deals under the ‘three for two’ banner are fixed at 1.56% for a maximum 75% LTV over a two or three-year initial term. An arrangement fee of £1,995 is offset a little with £500 cashback on house purchases and £300 cashback for remortgages. Borrowers seeking to remortgage are also incentivised with free legal fees and valuations.

Brokers get exclusive new deals

Borrowers preferring to secure a mortgage through a broker can also take advantage of an exclusive new five-year fixed-rate residential mortgage deal (only accessible through brokers). The new deal is available with a maximum LTV of 65% at a rate of 1.49% fixed until 1 May 2025. The product fee of £1,495 is offset by the free valuation and legal fees for those remortgaging and £300 cashback for house purchases.

For buy-to-let landlords dealing through a broker, the two-year fixed-rate mortgage for a maximum 80% LTV has dropped from 3.3% to 3.25% with a product fee of £995. The three-year fixed rate has also dropped from 1.74% to 1.56% at maximum 60% LTV with a fee of £1,995.

Andrew Asaam, head of mortgages at Virgin Money says: “We are delighted to launch these special offers at the start of 2020 and we hope these deals will help more customers to find their perfect home”.

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Virgin shakes up mortgage range with ‘three for two’ mortgage deals


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