Coronavirus (COVID-19) update
If you're struggling to pay your mortgage, you may be able to apply for a six-month payment holiday. You can find out more with the following articles:
- How to apply for a mortgage payment holiday
- How has the coronavirus affected house prices?
- The latest rules on moving home
For the latest updates and advice, visit the Which? coronavirus information hub.
Virgin Money mortgage customer ratings
Virgin Money merged with Clydesdale Bank in late 2018, and offers mortgages across the UK.
The table below shows how Virgin Money performed in our latest mortgage satisfaction survey, from customer service to value for money.
| Customer rating for: | Star rating |
| Customer service | |
| Application process | |
| Value for money | |
| Keeping you well informed | |
| Clarity of statements | |
| Transparency of charges | |
| Query and complaint handling | |
| Ability to overpay or underpay mortgage | |
| Online access | |
Star ratings based on a June/July 2020 Which? survey of 3625 members of the general public in which 203 people told us they had their mortgage with Virgin Money.
What kinds of mortgages does Virgin Money offer?
Many mortgage lenders have significantly cut their offerings this year due to the coronavirus outbreak.
When we checked in September 2020, there were 54 mortgages available from Virgin Money. All were fixed-rate deals - meaning your interest rate will stay the same for a set initial period.
Virgin Money's mortgages came with initial periods of two, three, five, seven, 10 and 15 years.
Does Virgin Money offer the best mortgage deals?
Our experts analysed hundreds of mortgages over a four-week period in July 2020. They compiled a total of 208 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.
The average number of times a lender made it into a table was 16, but Virgin Money featured just six times, meaning it only occasionally offers the most competitive rates. (Data source: Moneyfacts.)
Interest rates on Virgin Money mortgages
In September 2020, the average rate on a two-year fixed-rate mortgage from Virgin Money was 2.07%, compared to the overall market average of 2.33%.
How much could I borrow from Virgin Money?
Virgin Money will lend to first-time buyers, home movers and remortgagers at 60%, 65%, 75%, 85% and 90% loan-to-value.
Depending on your form of employment and the loan-to-value ratio you borrow at, you'll be able to apply to borrow between four and five times your annual income.
Can I make overpayments?
Virgin Money's deals allow you to overpay up to 10% of the mortgage balance each year.
How can I contact Virgin Money?
Mortgages from Virgin Money are available directly and through mortgage brokers.
Existing mortgage customers can contact 0345 602 8301.
New customers can call 0345 605 0500.
Its website is uk.virginmoney.com.
