Virgin Money has increased the income limit it will lend on and changes its criteria for Shared Ownership flats.

The lender will now lend at up to 5.5 times income for capital and interest applications at up to 80% LTV and where total income for the household is £100,00 or more.

It has also extended this to capital and interest applications with no additional borrowing at up to 85% LTV and where the total income is £50,000 or more.

And regarding its Shared Ownership change, Virgin Money will now accept flats on the scheme at up to 95% LTV at any storey height, including new builds.