"We are pleased to be offering a wide choice of products to new and next time buyers as well as remortgage customers."
Virgin Money has announced that it will shortly enter the Government’s Mortgage Guarantee Scheme.
The range of mortgages up to 95% LTV will be available for purchase and remortgage customers on properties up to £600,000, for a maximum of 30 years and for houses, flats and maisonettes.
Flats and maisonettes must be in buildings with four storeys or fewer and must not be ex-local authority or ex-MOD. Virgin is unable to accept applications for capital raising during a remortgage or for new build properties.
To qualify for the Scheme, applicants must not have an interest in another property and this must be verified by completing a Mortgage Guarantee Scheme Customer Declaration.
Sarah Green, head of customer acquisition at Virgin Money, said: “Virgin Money are excited to announce our support for customers looking for low deposit mortgages. It’s encouraging to see that the Government’s Mortgage Guarantee Scheme is off to a such a strong start and we are pleased to be offering a wide choice of products to new and next time buyers as well as remortgage customers.”