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Government Help

Virgin Money enters Help to Buy 2 market

paulajohn
Written By:
paulajohn
Posted:
Updated:
09/03/2017

Virgin Money has launched a range of Help to Buy 2 mortgages available up to 95% loan-to-value.

Today’s move makes Virgin Money the fourth lender to offer mortgage deals under the government guarantee scheme.

The range of mortgages on offer includes a two-year fixed rate charged at 5.29% available up to 95% loan-to-value (LTV) and a 4.29% two-year fix up to 90% LTV.

Virgin Money also offers a three-year fixed rate charged at 5.39% up to 95% and a 4.69% three-year fix up to 90% LTV.

Five-year fixed rate products are on offer at 5.49% for 95% LTV and 4.89% for 90% LTV. None of Virgin Money’s Help to Buy 2 mortgages have product fees attached.

The deals area available direct from Virgin Money and via mortgage advisers.

Challenger bank Aldermore has already confirmed it will begin to offer mortgages under the scheme from Monday 16 December.

Anthony Mooney, director of financial services at Virgin Money, said:

“Virgin Money is one of the fastest growing lenders in the market, and we want to continue to build our support for people’s home ownership ambitions.

“Joining the Help to Buy mortgage guarantee scheme today, several weeks ahead of our original plans, further strengthens our commitment to consumers in this under-served part of the market.

“It is encouraging to see that the scheme has got off to a strong start, and we are pleased to be widening the choice of products available to those looking to get on to or move up the housing ladder.”