Virgin

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Company Information

Virgin Money (Virginmoney.com) is a member of the world-famous Virgin Group, founded by Sir Richard Branson in 1995. The UK-based financial services company became a bank in its own right in 2009 through acquisitions of Northern Rock and Church House Trust, and was officially branded as Virgin Money in 2012. Virgin Money offers its customers a variety of investment products, savings accounts, insurance, pensions saving plans, credit cards and mortgages. The brand went international in 2003, launching Virgin Money South Africa in partnership with ABSA.

Virgin Money also provides its customers with a range of mortgages, many of which have flexible options that give customers more freedom within their mortgage. Virgin Money’s “Everyday mortgages” allow for overpayments of up to 10% each year, as well as payment holidays after nine consecutive payments to give customers a break from making repayments.

Virgin Money also provides “fully flexible mortgages”, which give customers the chance to access unlimited overpayments, payment holidays, underpayments in certain months if overpayments have been made in the past, and a borrow back feature for customers who have made over £500 of overpayments. These features are fairly unusual for a mortgage providers, as most banks discourage overpayments.

Customers who apply for a tracker mortgage from Virgin Money can also access the bank’s ‘freedom to fix’ plan, which allows customers to move over from a standard tracker mortgage following the Bank of England Base Rate to a different fixed rate mortgage at any point. This is ideal for customers who want to take advantage of a lower Bank of England Base Rate without committing to potentially higher interest rates in the future.

Customers who take out a Virgin Money mortgage will also have the opportunity to receive special offers and discounts on a range of other products from the Virgin Group, including discounted rates at Virgin Active gyms, special offers with Virgin Holidays, discounted rates on Virgin Media TV, broadband and phone services and discounts with Virgin Wines.

20 Reviews of Virgin have been submitted - read the latest 3 below

After 10 years of renting various flats since leaving school, I decided I had wasted enough money and wanted to put my hard earned cash and the small inheritance I was left by my grandfather to better use by buying my first property.

I had been looking at a new development of houses that were being built in the town where I lived and once I had viewed the showhouse I was determined to get a mortgage so that I could buy one of the houses before they were all sold.

My friend at work had just been approved a great mortgage deal with Virgin Money and suggested I give them a try. So I did and with a little bit of help and advice from my brother who is an Estate Agent, I opted for Virgin's fully flexible mortgage and as soon as they confirmed that it had been approved I immediately put a holding deposit on the 'showhouse' with all its amazing interior design and fixtures and fittings included in the price.

I won't be able to move into my 'showhouse' until all the other houses on the development have been sold but I don't think it will take too long as they seem to be selling like hot cakes!

Review posted by Miranda

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

My first gym membership was with Virgin Active gyms and have been a member for a couple of years but I never dreamed I end up getting my first mortgage with Virgin as well. There was a new development of 1 and 2 bed flats being built near to where I was living with my parents and I really fancied the idea of buying one and finally having a place I could call my own. Mum and dad were willing to help with the deposit so the rest was down to me.

Maybe its an age thing, but I just found it difficult dealing with some of the other more traditional financial institutions but Virgin Money just seemed to speak my language.

After checking out their website and doing my own rough calculations I realised I could afford to buy my own flat provided I got a mortgage with repayments that suited my personal lifestyle and budget. Virgin Money seemed to be offering that kind of mortgage and so I made the first move by making an online application. Before I knew it, I had the loan approved and the next thing I did was put a deposit on a very swish new 1 bed flat.

My 'fully flexible' mortgage with Virgin is all set up and I am eagerly awaiting the completion of the interior work on my new flat and hope to be moved in by Christmas.

Review posted by Des Ainsworth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

I would like to thank the lady that helped me at Virgin´s bank, Mrs Smith, for her extreme patience in helping me during my mortgage application.
There were so many options available to me that initially I was stunned. The other banks seem to offer the same, but Virgin has so many extra offers, so many discounts and so many flexible payment options that I was taken aback.
This lady was however excellent at making it all so clear to me, and I realised the huge benifits that Virgin bank offers us.
I have been given a 25 year mortgage to buy our dream house and am over the moon about the flexibility of it all.
Richard Branson is a very smart man, offering more and better services than the other banks seem to.
Thank you!

Review posted by Coral Stevenson

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money