Virgin Money launched a 3.99% mortgage deal
(Picture: PA Archive)The first fixed rate home buying mortgage for buying a home to be priced at below 4% in more than four months was launched today in the latest sign that borrowing rates are slowly “normalising” after the sudden Autumn spike.
The ten year deal with an interest rate of 3.99% from Virgin Money will be seen as an important psychological milestone for borrowers reeling from the surge in borrowing costs over the past year. It is only available to buyers with a deposit of 25% and there are significant penalties for early repayment.
