Virgin Money withdraws 85% LTV products

Virgin Money has announced that it has temporarily withdrawn some of its 85% LTV purchase products for new customers.

Related topics:  Mortgages
Rozi Jones
29th July 2020
Virgin Money
"To protect the service for existing customers as well as pipeline applications, we are temporarily withdrawing some of our 85% LTV products."

Virgin says the decision will help protect its service to existing customers and applications.

The lender will continue to offer a selection of 85% LTV five-year fixed rares for new and existing customers.

In a statement, Virgin Money said: "We constantly keep our products under review to ensure we are balancing demand with providing the best level of service for our customers.

"We have seen increases in demand from customers with small deposits and to protect the service for existing customers as well as pipeline applications, we are temporarily withdrawing some of our 85% LTV products.

"These products will still be available for existing customers looking to do a product switch. This change means we can continue to focus on providing existing customers with the level of service they’ve come to expect."

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