Virgin Money 5yr Fixed at 2.7% - surely too good to be true?

Cweb

While looking at mortgage deals over on the London & County site, the below 2.7% 5 year fixed rate appears - surely in the current climate this is too good to be true and likely an error?

Through Virgin Money site itself the rate is over 4%. I cannot find this anywhere else either.

The issue is that I am currently stuck in a chain, waiting for the vendors to find a place. Is it worth contacting L&C to try to apply for this and hope the deal can be valid by the time my purchase can progress?

ACG

Its only available on certain new builds (through the own new scheme) I think - https://ownnew.co.uk

amnblog

Yes, it is a specialist product, for specialist purchases on a New Build Scheme

• A mortgage designed exclusively for new build customers, brought to you in partnership with Own New.
• 5% Builder's incentive is used to reduce the interest rate during the fixed rate incentive period.
• Only available to Own New accredited brokers
• Free valuation for purchase customers.

StephenMortgages

Broker here - This is available if you are buying a new home from an accredited developer. 

Similar to a builder incentive - but you get it knocked off your interest which is why the rate is so low for the initial period. It is just another way the developer can incentivise you to buy their property.