Virgin Money Mortgages

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Last updated on 09 November 2020.

Virgin Money Mortgages FAQ

Who is Virgin Money?

Virgin Money is a financial services provider with branches and ‘lounges’ across the UK to serve its customers. It offers a range of products and services, including mortgages, loans, current accounts, savings accounts and business banking. The brand Virgin Money was established in 2000. Previously, from its inception in 1994, it was known as Virgin Direct.

Does Virgin Money offer mortgages?

Yes, Virgin Money offers a wide range of mortgages to first-time buyers, those moving home, re-mortgages, people wanting to borrow extra on their mortgage and those who want to borrow for a buy-to-let property.

What types of mortgages does Virgin Money offer?

Virgin Money’s mortgages carry different interest rates, lending criteria, terms and fees so be sure to do your research to get the best mortgage deal for your personal circumstances.

What are Virgin Money’s fixed-rate mortgages?

Virgin Money’s fixed-rate mortgages allow borrowers to fix the interest rate of their mortgage for a certain period of time. Fixing interest rates for a number of years means you can plan your finances more easily without the fear of a sudden increase in monthly outgoings should the Bank of England increase the Base Rate, for example.

At the end of the fixed rate period, the rate reverts to Virgin Money’s Standard Variable Rate, which fluctuates. At this point, customers can apply for another deal.

Can I get a buy-to-let mortgage with Virgin Money?

Yes, Virgin Money offers mortgages for those looking to invest in property and let it out to tenants. The lending criteria tend to be a little more strict than for those borrowing to buy a property to live in, however.

How do I apply for a Virgin Money mortgage?

You can check your eligibility for any of the mortgages offered by Virgin Money online. If you are eligible, you can then fill out an online form to secure an agreement in principle. The process should take around 20-30 minutes.

The full mortgage application takes longer and can be done over the phone or in branch with a mortgage advisor. Then, once the application has been approved and Virgin Money has valued the property you want to buy, the offer can be made.

This process will be handled by a qualified mortgage advisor, or you could seek advice via an independent mortgage advisor.

What information will I need to hand when applying for a Virgin Money mortgage?

Yes, despite the fact that its mortgages are only available through brokers, it has a consumer website that allows borrowers to browse mortgage deals themselves.

  • Details of income
  • Proof of address for the past three years
  • Details of all your outgoings and financial commitments
  • Details of credit commitments

Services offered by this provider may change over time. Always check Ts&Cs.

NerdWallet has selected Koodoo to provide you with this information-only online comparison service on a non-advised basis. NerdWallet will receive a share of the commission that Koodoo earns from the lender or from our partnered broker, Fluent Mortgages.

Koodoo is the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978), and is a registered company in England and Wales (company registration number 10978680), with a registered address at Scale Space, 58 Wood Lane, London, W12 7RZ

Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE

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