New build cash incentives get a boost
Virgin Money has announced it is now accepting new build cash incentives of 5% of the purchase price up to 90% LTV.
Previously capped at 85% LTV, the policy includes cashback deals, stamp duty contributions, and payment of professional fees.
Virgin Money will also accept non-cash incentives without impacting the loan amount.
In addition, it has reduced the number of documents needed to support applications.
For example, self-employed applications will no longer require a completed self-employed supplementary form for clients whose latest accounts are from 2021 or later.
