You are here: Home - First Time Buyers -

Virgin Money announces details of its new 95% mortgage

0
Written by: Shekina Tuahene
05/05/2021
The 5% deposit mortgage is available under the government’s Mortgage Guarantee Scheme
Virgin Money announces details of its new 95% mortgage

Virgin Money has announced the details for its 95 per cent loan to value (LTV) product as part of the government’s Mortgage Guarantee Scheme.

The mortgages will be eligible for purchases and remortgages but cannot be used for capital raising.

Applications will be accepted on houses, flats or maisonettes with a maximum property value of £600,000. As with the rest of the mortgages under this scheme, new builds will not be permitted.

Properties must be in buildings with four storeys or fewer and must not be ex-local authority or ex-ministry of defence.

A maximum mortgage term of 30 years will be offered. Applicants must not have equity in any other properties.

Sarah Green, head of customer acquisition, group mortgages 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.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
Don’t forget your garden when you arrange home insurance

Brits are splurging on their gardens this year but not all have home insurance to cover their new belongings

Close
+ +