"We are giving new borrowers an opportunity to lock their rate in for the medium to longer term, safe from immediate market fluctuations."
Seven-year fixed rates start from 2.99% with a £995 fee or 3.09% fee-free, and 10-year fixes are available at 3.09% with a fee or 3.19% fee-free.
The range launches alongside Virgin Money's new app, Home Buying Coach, which aims to coach first-time buyers through the mortgage process. Key features include a tool to calculate what each user can afford over a range of buying timescales, the generation of a personalised saving and timeline plan, and guidance on each step of the home buying process.
Sarah Green, head of intermediaries at Virgin Money, said: “We recognise how challenging the last few months have been for all buyers, including those trying to get onto the property ladder.
“By offering longer term fixed rates along with the Home Buying Coach app, we are giving new borrowers an opportunity to lock their rate in for the medium to longer term, safe from immediate market fluctuations. The addition of the Home Buying Coach app means first-time buyers also have the have information and guidance to help them take that first and important step onto the property ladder.”
