Virgin Money has taken the decision to withdraw some of its 85% loan-to-value (LTV) products as it looks to protect service levels.
Lenders have been adding and withdrawing products of late as demand spikes following the easing of lockdown and the government’s intervention in the market.
A spokesperson for Virgin Money said: “We’ve temporarily withdrawn some of our 85% LTV purchase products for new customers to protect our service to existing customers and applications.
“We are still offering 85% LTV 5-year fixed products to help support new and existing customers with small deposits and hope to be able to offer a wider range of lower deposit mortgages for new customers soon.”
Products will be withdrawn from 8pm tomorrow (Wednesday 29 July). These products will still be available for existing customers looking to do a product switch.
