Virgin Money

Virgin Money launches custom build and shared ownership products



Virgin Money has launched a new range of custom build and shared ownership products.

The financial services brand has launched two, three-year tracker products at 80% LTV available at 4.79% and 85% LTV available at 4.99% (both with a £1,995 product fee).

These custom build loans are available to all intermediaries with loans submitted via BuildLoan.

Two-year shared ownership products:

  • fixed rate at 85% LTV available at 1.84% (£995 product fee, £300 cashback)
  • fixed rate at 85% LTV available at 2.44% (no product fee, £300 cashback)
  • fixed rate at 90% LTV available at 3.69% (no product fee, £300 cashback).

Five-year shared ownership products:

  • fixed rate at 85% LTV available at 2.34% (£995 product fee, £300 cashback)
  • fixed rate at 85% LTV available at 2.84% (no product fee, £300 cashback)
  • fixed rate at 90% LTV available at 4.29% (no product fee, £300 cashback).

Initially, the products will only be available in London, the South East and the South West, but availability is expected to broaden over time.

For every custom build and shared ownership mortgage completion, Virgin will donate £100 to Crisis, the national charity for homeless people.

Virgin Money’s partners BuildLoan, Countrywide and Eversheds will also make a £50 donation for every custom build completion.

Peter Rogerson, director of mortgages at Virgin Money, said: "Virgin Money is committed to getting Britain building and helping more people achieve their dream of home ownership.

“We are delighted to be the first mainstream lender to launch a custom build proposition, as we want to offer more choice in an underserved section of the market that has huge growth potential.

“Our new shared ownership range will support customers with a more affordable route into home ownership, giving people access to property who might otherwise be excluded."


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