You are here: Home - Mortgages - First Time Buyer - News -

Virgin launches Help to Buy for Londoners

Written by: Mortgage Solutions
Virgin Money has introduced a range of Help to Buy equity loan deals designed to support homebuyers in the capital.

Products in the lender’s range for Londoners are a two-year and five-year fixed rate mortgage available at 55% loan-to-value.

For the two-year fix, customers will pay a rate of 1.78%, while the five-year deal attracts a rate of 2.40%. Both come with a £995 fee and £500 cashback.

The products are available through the government’s Help to Buy London scheme. It works in the same way as the Help to Buy: equity loan scheme, but offers a 40% equity loan for borrowers buying a property within Greater London, instead of the 20% available throughout the rest of the UK.

First-time buyers or homemovers can take a loan out on a new-build property worth a maximum of £600,000 under the scheme.

See’s How can Help to Buy help you? guide for more information on the four schemes available to help you get on the property ladder.

Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “London’s Help to Buy scheme is incredibly important for those who want to realise their dream of owning their own home in London. Our new products have been designed specifically to support the London scheme and we look forward to working with our intermediary partners in the capital.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Homes in Ofsted ‘outstanding’ school catchment area command £43k premium

Properties in the catchment areas of Ofsted rated ‘outstanding’ schools cost nearly a fifth (18%) more than other homes in...