The bank will offer products at 90% and 95% loan-to-value from today after bringing forward its launch by several weeks.

Virgin will offer a 95% LTV two-year fixed rate at 5.29% and equivalent 90% LTV fix at 4.29%. Three-year fixed rates are available at 5.39% for 95% LTV and 4.69% for 90% LTV.

Five-year fixed rate products are on offer at 5.49% for 95% LTV and 4.89% for 90% LTV.

All of Virgin Money’s Help to Buy mortgage guarantee products have no product fees.

The products will be available through Virgin Money’s direct and intermediary channels, making it the second lender to launch through mortgage brokers.

Fellow challenger bank Aldermore has already confirmed it will begin to offer mortgages under the scheme from Monday 16 December.

Anthony Mooney, director of financial services at Virgin Money, said: “Virgin Money is one of the fastest growing lenders in the market, and we want to continue to build our support for people’s home ownership ambitions.

“Joining the Help to Buy mortgage guarantee scheme today, several weeks ahead of our original plans, further strengthens our commitment to consumers in this under-served part of the market. It is encouraging to see that the scheme has got off to a strong start, and we are pleased to be widening the choice of products available to those looking to get on to or move up the housing ladder.”