Virgin Money has made a number of policy improvements to its mortgage proposition for all decisions in principle.

Its shared ownership LTV has increased from 90% to 95% of the share purchased, available on both flats and houses and including new build properties.

New 95% LTV rates are available across two, three and five-year fixed terms, starting from 3.49% with £300 cashback and have no product fee.

Virgin’s shared ownership proposition has been extended into Wales, in addition to its current availability in England.

In addition, the maximum LTV on properties valued between £500,000 and £750,000 has increased to 85% from 80%.

Andrew Asaam, director of mortgages at Virgin Money, said: “This latest set of mortgage policy improvements demonstrates how engaged we are with our intermediary partners. We have listened to their feedback and improved various elements of our policy so it is easier to do business with us.

“We are confident that these enhancements will be very well received and demonstrate our continued commitment to all aspects of the mortgage market.”