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How to apply for the Virgin Money 5-Year Everyday Fixed Cashback Mortgage?
Looking for a mortgage with cashback and a hassle-free application? Read on to learn how to apply for the Virgin Money 5-Year Everyday Fixed Cashback Mortgage!
Virgin Money 5-Year Everyday Fixed Cashback Mortgage application!
Are you looking for a mortgage with cashback and other perks? If so, you can read our post to learn how to apply for the Virgin Money 5-Year Everyday Fixed Cashback Mortgage!
Online Application Process
You’ll be able to check if you prequalify for this mortgage before you complete the application. This is great to avoid any unnecessary hard check on your credit score
Also, you’ll need to understand the requirements before you apply for the Virgin Money 5-Year Everyday Fixed Cashback Mortgage, so here is a list of some of the requirements:
- You need to have been a UK resident for three years or more;
- You’ll need to have paid all your recent bills;
- Your house can never have been repossessed;
- You can’t have been bankrupt, had a debt management plan, and others;
- You’ll need to have permission for joint applications.
Also, these are just some of the requirements. Moreover, after you check these requirements, you can check if you prequalify online.
In addition, after that, you’ll be able to call their official phone number to complete your application process!
Therefore, you’ll be able to talk to one of their mortgage specialists to help you understand more about the terms!
You will be redirected to another website
Application Process using the app
You can use the Virgin Money app to check your Virgin Money account, credit card, and others. So, you’ll be able to manage your account through the app. However, you’ll only be able to check if you prequalify through the official website.
Also, you’ll only be able to complete your application through their official phone number by talking to one of their mortgage advisors.
Virgin Money 5-Year Everyday Fixed Cashback Mortgage vs. Vernon First-time Buyers Mortgage
Also, read our comparison table below to learn more about the two mortgages and see which is best for your finances!
| Virgin Money 5-Year Everyday Fixed Cashback Mortgage | Vernon First-time Buyers Mortgage | |
| Requirements* | You’ll need to be a UK resident for 3 years or more; Have paid all your bills; You can’t have been bankrupt, had debt management, and others; There can be other requirements. *Terms apply. | The requirements vary depending on the type of mortgage. |
| Loan Type | Mortgage. | Mortgages. |
| Loan Amounts | The amounts depend on your financial situation. | From £100,000 up to £1,000,000, depending on which type of Vernon First-time Buyers Mortgage you’re applying for. |
| Terms* | Each calendar year, you can pay as much as 20% of your mortgage total in lump sums or monthly installments without a penalty. *Terms apply. | From 3 years to 5 years, depending on the mortgage type you can apply for. *Terms apply. |
| Rates* | The initial interest rate of 4.97% (until Aug 2028). The overall cost for comparison: 6.90% APRC; There is an early repayment charge: 3.50%; There are no product fees; Mortgage exit fee: £50; Also, there can be other fees. *Terms apply. | For fixed-rate Vernon First-time Buyers Mortgage: Initial rate: From 4.50% to 4.70%; SVR: 6.85%; Cost for comparison (overall): From 6.00% to 6.30% APRC; LTV: From 80% to 100% (maximum); There are no incentives; No arrangement fees; Also, there are prepayment penalty fees. Also, for discount mortgages: Initial rate: From 3.85% to 4.15%; SVR: 6.85%; Cost for comparison (overall): From 4.30% to 6.10% APRC; LTV: From 80% to 100% (maximum); There are no incentives; Arrangement fees: From 0% to 0.30%; Also, there are prepayment penalty fees. *Terms apply. |
| Minimum deposit* | N/A. | As low as 5% for minimum downpayment deposits. *Terms apply. |
Now, check how you can apply easily for the Vernon First-time Buyers Mortgage!
How to apply for Vernon First-time Buyers Mortgage
Do you need a mortgage with good rates and terms? If so, read on to learn how to apply for the Vernon First-time Buyers Mortgage!
About the author / Victória Lourenço
Reviewed by / Aline Barbosa
Senior Editor
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