Virgin Money has increased the maximum loan to income limit for select applications to 5.5 times income and made changes to its shared ownership policy.
For capital and interest applications up to 80 per cent loan to value (LTV) where applicants are employed and having a total income, sole or joint, of £100,000 or more are eligible for enhanced LTI.
Capital and interest remortgages with no additional borrowing up to 85 per cent LTV with a total income, both sole or joint, of £50,000 or more can now use the enhanced LTI limit.
Shared ownership is excluded from the updated maximum LTI limit.
The lender added that it will now accept shared ownership flats up to 95 per cent LTV regardless of storey height and including new build.
Previously, the LTV for flats was limited based on storey height.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
