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Important information - changes to product offering and policy requirements

Some changes to our product range and policy requirements are currently in place.

We’re continuing to monitor the situation closely and we’re working hard to support you and your customers during these difficult times.

For a full update of all changes please view our dedicated update page.


BREAKING NEW GROUND ON NEW BUILD

Welcome to our New Build Zone – designed to help you grow your new build business.

We are making it even easier for your customers to purchase a brand new property. We offer a range of new build mortgage deals which include Help To Buy Equity Loans and Shared Ownership.

We're committed to developing a comprehensive new build proposition…

And what’s more, we work hard to deliver the personal service you expect. That’s why you can rely on support from a super-friendly BDM and service team, who are on hand to help you with your new build cases.

 

Your New Build toolkit

We’ve created a range of handy materials to help you discuss buying a new build home with your clients. We hope you find them useful.

 

A-Z Lending Policy

If you've got a specific query on an aspect of our new build Lending Policy you can search for your answer here.

Find out more 

Compare our mortgages

View our latest deals on our Mortgage Product Update.

Find a mortgage 

 

Help to Buy Equity Loans

 

We've been a proud supporter of the Government's Help to Buy: Equity Loan scheme for a long time. The scheme is designed to help home buyers with smaller deposits buy a new build home in England, London, Scotland or Wales.

Find out more

 

The customer facing items provided are for your clients to read and keep. Please make sure you run them by your own compliance team to check they’re happy before you use them. Plus check out the best practice guidelines we’ve created to help.

Why you should recommend Virgin Money to your new build clients

We define new build as a property where construction is completed and/or the property is first occupied, in the last 24 calendar months.

A wide range of products and features…

  • Residential and BTL deals from our core range available for new build. Deals available up to 75% LTV for new build flats and 90% LTV for new build houses.
  • Cash incentives up to 5% and unlimited non-cash incentives accepted†, without impacting the loan amount. For houses, where the LTV is greater than 85% , cash incentives of 1% (up to £5,000) of the property value are acceptable. Please see our Incentives Criteria 
  • Part-exchange transactions accepted.*
  • 30 weeks (seven months) Offer as standard and we will offer a 30 weeks (seven months) extension if needed. Subject to criteria. Please see our Offer Extension
    Criteria 
  • A comprehensive range of Help to Buy: Equity Loan deals available for all schemes.
  • Help to Buy: Equity Loan affordability is calculated with government fees as part of your client's monthly financial commitments at 3% of the equity loan.

†When purchasing a property through the Help to Buy Equity Loan scheme, incentives of any kind (cash and non-cash) cannot be greater than 5% of the property value.

*Part exchange is not permitted within the Help to Buy Equity Loan schemes.

…Backed by great service

  • Dedicated Service Team who are specialists in new build.
  • Access to all our mortgages - we don’t keep the best deals to help us find new customers ourselves.
  • At least 24 hours’ notice before we increase the rates on our mortgage products.
  • Discounts from across the Virgin Group for you and your clients too when they become a Virgin Money customer. View our Virgin Group offers 
 

Want to know more?

Our BDMs are here to help you with both Virgin Money and Clydesdale Bank.

Find your BDMs