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TODAY'S OTHER NEWS

Virgin Money suspends all new purchase mortgage applications

Virgin Money is no longer accepting any new buy-to-let or residential purchase mortgage applications.     

The lender has also capped loan to values (LTV) for its remaining product lines, with BTL remortgages at 55% LTV.

A spokesperson for Virgin Money said: “Following the latest government COVID-19 guidance, which means valuers no longer carry out physical valuations, we are temporarily suspending mortgage applications for new purchases.

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“We will continue to use desktop and automated valuations on remortgage applications where possible, and focus on helping existing customers who are in need of immediate support.”

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