The lender also confirmed that new build mortgage offers will now be valid for seven months, with an option to extend open offers for a further seven months where the construction of the property is not completed.
New 90% LTV products are available from 2.19% fixed for two years, 2.44% fixed for three years and 2.85% fixed for five years. All products come with a £995 product fee and £300 cashback.
Existing products remain available for new build houses up to 85% LTV, and flats up to 75% LTV.
Andrew Asaam, director of mortgages at Virgin Money, said: “Our range of 90% LTV new build mortgages will provide a competitive option for clients considering a new build property. Following feedback from our new build intermediary partners and builders, we have also further enhanced our proposition to cater for clients that need extra flexibility.”
