The MarketPlace at Bradford & Bingley has launched the Virgin One Account with the added incentive of £500 cashback, which is exclusive to the UK's largest mortgage broker.
The rates are tiered depending on a borrower's loan-to-value, but a 90% LTV deal is available at 5.55% (5.7% APR).
Key features include:
David Bitner, mortgage technical manager for The MarketPlace, comments: “The VirginOne account is a great flexible mortgage. In addition to full flexibility, such as the ability to make over-payments, take under-payments or payment holidays, the deal provides full current account facilities so you can gain access to your money at any time. You can arrange for your salary to be paid directly into the mortgage where it will work harder for you than it would in a normal current account receiving a nominal rate of interest.
“Take all these facilities and add our exclusive cashback, and we have a product which is both versatile and competitive. However, these type of mortgages should only be taken by the financially disciplined, as borrowers need to manage their money with a close eye.”