Virgin Money has provided details of its participation in the Mortgage Guarantee Scheme.
Its range of mortgages up to 95% LTV will be available for purchase and remortgage customers and available 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.
The lender will not 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, 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.”
