The lender has also extended new build mortgage offers to as much as 14 months, with seven months valid as standard and the option to add another seven months if the property construction has not finished.
Virgin’s new mortgage range includes a two-year fixed rate of 2.19% and a five-year fix of 2.85%, both at 90% loan to value (LTV), with fees of £995 and £300 cashback.
Andrew Asaam, director of mortgages at Virgin Money, said: “Our range of 90% LTV new build mortgages will provide a competitive option for clients considering a new build property.
“Following feedback from our new build intermediary partners and builders, we have also further enhanced our proposition to cater for clients that need extra flexibility.”
A number of lenders have enhanced new build propositions in recent weeks, with Barclays also raising LTV limits.