"The Mortgage Guarantee Scheme addresses an important consumer need and Virgin Money’s participation in the scheme demonstrates our commitment to the UK housing market."
The mortgages, which are available both directly with Virgin Money and via brokers, include £500 cashback for first-time buyers and £300 for next-time buyers.
A five-year fixed rate starts at 3.99%, a 10-year fixed rate is available at 4.19%, and a 15-year fix is on offer at 4.39%, all with no product fee.
The range is available for purchase and remortgage on houses, flats and maisonettes up to £600,000, for a maximum of 30 years. The 95% LTV range also offers free valuation and free legal work for remortgage customers.
The products won’t be available for customers looking to capital raise during a remortgage or for new build properties. Flats and maisonettes must be in buildings with four storeys or fewer and must not be ex-local authority or ex-MOD.
Sarah Green, head of customer acquisition at Virgin Money, said: ”The Mortgage Guarantee Scheme addresses an important consumer need and Virgin Money’s participation in the scheme demonstrates our commitment to the UK housing market. We want to continue to build our support for people’s home ownership ambitions, including those with smaller deposits.”
