Challengers sign up to mortgage scheme

Tim Wallace
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CHALLENGER banks Aldermore and Virgin Money became the latest lenders to sign up to the Help to Buy guarantee scheme yesterday.

The pair join lenders like RBS and Lloyds in offering the products, under which the government guarantees up to 20 per cent of the mortgage for home buyers with a small deposit.

They will offer 95 per cent mortgages with the scheme, and can process and stockpile the loans until the arrangement goes live next month.