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 95% for residential shared ownership / 90% for residential non-shared ownership.
- Cash incentives of up to and including 5% of the purchase price are acceptable up to 90% LTV† without affecting the loan amount. For LTVs up to 90% where the value of the cash incentive is greater than 5%, the balance of the incentive above 5% must be deducted from the purchase price when calculating the maximum loan amount. Where the LTV is greater than 90%, cash incentives must be deducted from the purchase price when calculating the maximum loan amount. Please see our Incentives Criteria Link opens in a new window
- 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 Link opens in a new window - 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.
- Access to a range of Greener Mortgages, more competitively priced than their equivalent Core products, rewarding customers for purchasing energy efficient, new-build homes. See our Greener Mortgages page.
*Up to 95% LTV on new build houses is only available for Shared Ownership, otherwise the maximum LTV is 90%
†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.
