Fix and switch with Virgin Money
Posted on 22nd February 2024 at 14:46
Virgin Money have launched a new fix and switch product where you can secure a 5 year fixed rate but benefit from no early repayment charges after 2 years.
This is available for both purchases and remortgages and rates are dependent on loan to value, maximum being 95%
This product is a great solution for those not sure how long to tie in for. Interest rates have been decreasing and therefore you may not want to tie yourself in for 5 years.
With the switch to fix option, you benefit from the security of a 5 year fixed rate if rates go up but can leave after 2 years if rates come down, penalty free.
You can also benefit from making over payments of any amount after the 2 years to bring the capital owed down.
The flexibility of this product could give you some great options should you be undecided between the 2 and 5 year fixed rates.
To find out more, contact us on 01206 577266
Victoria Bennett
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