Confirmation of Product Changes

26 August 2020

On Wednesday 26 August, we made the following changes to our residential and BTL range:

Our 90% LTV products are available to first time buyers only, for a maximum term of 25 years, on properties with a purchase price up to £400,000. They are not available for purchases of flats, maisonettes, or new builds.

We define first time buyers as customers who have never previously held a mortgage. For a joint first time buyer application, neither customer will have been party to a mortgage.

We define new build as a property where construction was completed and/or the property was first occupied, in the last 24 calendar months. Please ensure your client meets all these criteria before submitting an application.

Summary of deals

Core Range

  • 90% LTV 7 Year Fixed Rate with £995 fee at 2.99%
  • 90% LTV 7 Year Fixed Rate fee-saver at 3.09%
  • 90% LTV 10 Year Fixed Rate with £995 fee at 3.09%
  • 90% LTV 10 Year Fixed Rate fee-saver at 3.19%

As communicated on Monday, we have also made the following changes:


  • 65% LTV 2 Year fixed rate with £1,495 fee has increased by 0.08% to 1.24%


  • Selected 65% LTV fixed rates have increased by up to 0.05%
  • Selected 85% LTV fixed rates have increased by up to 0.29%
  • Selected BTL fixed rates have increased by up to 0.12%
  • Product transfer rates at 90% LTV will increase by up to 0.24%

Additional Information

Our new range of 90% LTV products for first time buyers have limited availability and may be withdrawn at any time, without our usual notice.

End dates have moved to 1 January of the relevant year.

For full details of our product range, please view the Mortgage Update.

Service Update

We are working hard to support you and your clients with additional product options during exceptionally busy times for the market. Therefore, we are sure you will understand that our turnaround times may not be in line with the levels that you are used to receiving.

As a result, we have made the call to pause our 10-day Application to Offer Service Commitment for intermediary mortgage applications across both Virgin Money and Clydesdale Bank for applications received from Wednesday 26 August 2020.

We remain committed to getting offers to your customers as soon as we can. Please speak to your dedicated Business Development Manager if you have any queries.

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