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Remortgage -Northernrock/virgin Interest only Gone
justjohn
Posts: 2,260 Forumite
Remortgage -Northernrock/virgin Interest only Gone
We were previously on a low fixed rate that comes to an end in January interest only.
House was valued at 250k about 4 years ago. Mortgage is 55k.
Have all interest only mortgages been stopped?
Virgin site does not seem to show re-mortgage deals.
We were previously on a low fixed rate that comes to an end in January interest only.
House was valued at 250k about 4 years ago. Mortgage is 55k.
Have all interest only mortgages been stopped?
Virgin site does not seem to show re-mortgage deals.
0
Comments
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Virgin minimum loan on I/O is £300K (!!!!!! the sense of that is is beyond me).
Plenty of others will consider this (subject other criteria) on IOHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Really wanted to avoid switching mortgage providers.0
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No choice if you want I/OHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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yes looks that way...hate having to trawl for stuff like this. its a bit complicated as I was going to get a BTL on another property I own this year or next(mortgage free)
Was reading BTL's are still around with IO.0 -
ok just in case anyone is in same position as me.
Old mortgage interest rate was 2.88%
I called virgin and they have agreed to switch us too 2.45% with no admin fee.(2 year fixed)
There was a lower rate but had a £995 admin fee @ 2.04% 2 year fixed (not for me)
Both these were available to me interest only. Hope this helps someone.0 -
I was just going to say, if you are looking on the Virgin Money website for remortgage deals, you're looking for the wrong thing.
As an existing borrower you were looking for customer retention deals which many lenders don't publicise online, you have to call them.
Remortgage deals are for new borrowers coming to the lender, where their existing mortgage is repaid and a new mortgage deed is required.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I stand corrected - we (as a broker) don't get involved in new product /same lender (other than checking if client has checked with current provider) and I must admit I thought they would insist on meeting current criteria for new product. ApologiesHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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