Virgin Money Mortgages
Here with the help of our mortgage comparison tools you can view the entire range of mortgages on offer from Virgin Money Mortgages. Using our comparison tools you can compare Virgin Money against other leading lender and mortgage provides to see who is offering the best rates. See the entire range from fixed and variable rate to tracker and buy to let deals side-by-side.
Products: Mortgage Lenders
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About Virgin Money Mortgages
If your current Virgin Money mortgage deal coming to an end, or are you already on our Standard Variable Rate or Buy-to-let Variable Rate, then Virgin Money mortgage rates could save you money. Virgin Money is a provider of home loans, credit cards, savings accounts, car insurance, travel insurance, home and contents insurance, income protection, life insurance and superannuation accounts. For mortgages, it offers services for First time buyer, Buy to let and Remortgaging. It offers both variable rate ad fixed rate home loans.
As a first-time buyer, keep in mind that some mortgage products there may be a fee to pay as part of the deal. An application fee is typically a non-refundable fee charged when you take out a mortgage. For buy to let, the maximum loan to value with Virgin Money is 75%. The minimum income (excluding what you receive from BTL properties) needs to be £25,000 per annum. If your application is in joint names, the combined minimum income will also be £25,000. Where personal income is used for affordability, a minimum combined gross income of £50,000 is required. All products, with the exception of five-year fixed rate, will be calculated on a notional rate of 5.50%. Five-year fixed rate products, will be calculated at 5.00%.
The Core Features of Virgin Money Mortgages
- good value for money score
- cheap for fixed rate deals
- options to overpay
- Switch between variable and fixed rate as needed
- Offset facility available
- Split facility available
- Additional repayments allowed
- Repayments may be made weekly, fortnightly or monthly
- Borrowing ranges from £10000 to £4,000,000
- Repayment period from 1 to 40 years
When Can Virgin Money Mortgages not be offered?
- If you have ever had a CCJ (satisfied or unsatisfied)
- If you have ever been made bankrupt or had an IVA
- You have been party to a mortgage where the property has been taken into possession (including pending) either voluntarily or enforced
- You have ever had any defaults, satisfied or unsatisfied, with a total value of greater than £500
- Arrears are recurring or likely to recur
How does it work?
Virgin Money Mortgages don’t use income multiples. Instead, they use an affordability model to confirm how much they can lend. To see how much they could offer you, simply put your details through the affordability calculator on the official website.
After you’ve applied for your mortgage, you just need to sign and return the application form and pay any applicable fees.
Once returned to us, your application will be assessed by an underwriter, and they 'll keep you updated throughout the process. Once your application has been returned and any applicable fees have been paid, your valuation will be instructed. You can expect this will be instructed, completed and returned in just 5 working days.
You can use phone call and email to talk with the representatives.
The Final advice
Virgin Money is well known for its affordable rates and providing great value for money. If you have a good credit history and want flexible and market competitive terms, Virgin Money mortgages is a feasible option.