Virgin Money launches Help to Buy 2 products early

Virgin Money has launched a range of Help to Buy 2 products ahead of the expected January launch.

The new range includes a two-year fixed rate deal at 5.29 per cent at 95 per cent loan-to-value, and a two-year fix at 4.29 per cent at 90 per cent LTV.

On three-year fixes the lender is offering 5.39 per cent at 95 per cent LTV and 4.69 per cent at 90 per cent LTV.

Five-year deals include a 5.49 per cent deal at 95 per cent LTV and a 4.89 per cent product at 90 per cent LTV.

All products are available through intermediary and direct channels and no fees are applied to any of the new range. Purchase customers are eligible to receive £300 cashback to help towards legal fees, valuation fees or other general moving costs.

Virgin Money director of financial services Anthony Mooney says: “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 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.”

The move follows an announcement last week from challenger bank Aldermore that it is to launch its own Help to Buy 2 products on 16 December.