Virgin Money mortgage review

Is Virgin Money a good mortgage provider?

We analysed which lenders combine competitive mortgage rates with good customer service.

We found that Virgin Money consistently offered some of the cheapest deals for people buying a home or remortgaging.

However, its customers weren't too impressed. In our satisfaction survey, it achieved a below-average rating of 60%, ranking in 17th place out of 22 lenders.

Virgin Money Mortgages review

	Score	Overall ranking
Which? Customer Score	60%	Joint 17th out of 22 mortgage lenders

Our Scores

Which? Customer Score

Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.

Virgin Money customer satisfaction scores

The table below shows how Virgin performed in our latest mortgage satisfaction survey.

Our survey gathered feedback from homeowners with Virgin Money mortgages about everything from the application process to value for money.

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What types of mortgage does Virgin Money offer?

Virgin Money merged with Clydesdale Bank and Yorkshire Bank in late 2018, making it the seventh-largest mortgage provider in the UK.

When we checked in September 2023, Virgin Money offered 95 mortgages. Most were fixed-rate deals, meaning your interest rate stays the same for a set initial period. Virgin mortgages had initial periods of two, three, five, seven and 10 years.

Virgin also offered a smaller number of tracker deals, with initial terms lasting two years before reverting to the lender's standard variable rate.

Does Virgin Money offer the best mortgage deals?

Which? analysed thousands of mortgages over a four-week period in August 2023. 

We compiled a series of top-10 cheapest deals tables based on a variety of borrowing scenarios and counted how many times each lender featured in a table.

The average was five table appearances per week. However, Virgin appeared 10 times, the second most of any lender. This means it regularly offers some of the cheapest mortgage deals. (Data source: Moneyfacts.)

How much could I borrow from Virgin Money?

Virgin Money lends to first-time buyers and home movers at 65%, 75%, 80%, 85%, 90% and 95% loan-to-value (LTV). People remortgaging can access deals at 60% LTV.

You can borrow anywhere from 4.49 to 5.5 times your annual household income, depending on the mortgage deal and your financial situation.

How long can a Virgin Money mortgage term be?

All of Virgin's mortgages allow customers to pay back the loan over a maximum term of 35 years.

Can I make overpayments?

You can overpay up to 10% of the balance on a Virgin mortgage every 12 months before incurring an early repayment charge (ERC).

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. You can also visit one of its branches or use the bank's online chat tool.