Virgin Money has launched a new range of Help to Buy Equity Loan products to support London’s Help to Buy scheme.

These new products are available now.

The 55% LTV Help to Buy Equity Loan products include:

•          Two-year fixed rate available at 1.78% (£995 product fee, £500 cashback).
•          Five-year fixed rate available at 2.40% (£995 product fee, £500 cashback).

These products will be attractive for the London Help to Buy scheme that offers a government loan of up to 40%, with the customer providing a minimum 5% deposit.

The 55% LTV range is also available for customers buying outside of the London area.

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.”