Virgin Money Mortgages

Virgin Money was established in 2003 and has rapidly become one of the UK's most prominent mainstream lenders. They provide various mortgage options, including fixed-rate deals with terms spanning from 2 to 15 years.

What are Virgin Money's best mortgage rates?

Virgin Money offers a range of mortgage deals, with rates that vary based on individual circumstances. Keep in mind that ‘best’ is a relative term, so while we tend to think of this as meaning the lowest rate, for some people, the best rate will be that with the most flexible mortgage terms. 

It’s also important to keep in mind that not everyone will necessarily qualify for every rate offered by Virgin, and that it’s wise to compare their rates against other lenders.

What type of mortgages do Virgin Money offer?

Virgin Money offers a range of mortgages for homebuyers, investors and those looking for a remortgage. They may offer interest-only options to those with a minimum income of £75,000 or a minimum equity of £300,000 in their property.

Rates are offered at both fixed and variable interest rates over a maximum term of 35 years.

How can I make a Virgin Money mortgage application?

You can apply for a Virgin mortgage over the phone or at a Virgin branch, however, with few branches, it can be easier to apply for a Virgin mortgage online. Keep in mind that it’s also a good idea to compare Virgin Money’s offers against their competitors to ensure you’re getting the best deal.

Why Use Mojo to Apply with Virgin Money?

Applying for a Virgin Money mortgage through Mojo offers several advantages. We can save you time by helping to scour the market for the most competitive deals available to you, also potentially saving you money.

We can also aid in a hassle-free application process, as once with Mojo, we can take care of the application forms, liaising between estate agents and solicitors, and moving the process past any bumps in the road. 

How much can I borrow from Virgin Money for a mortgage?

Virgin can offer loans of up to 5.5 times your gross annual income. However, the actual loan amount is determined on a case-by-case basis, considering your income, expenses, loan-to-value (LTV) ratio, and whether the repayments would overstretch your finances.

You can check your MortgageScore with Mojo to understand how lenders view your creditworthiness.

Does Virgin Money offer remortgages?

Yes they do, but remortgages are treated like new mortgage applications unless you opt for a product transfer - a new mortgage with Virgin Money. This can still save you money on the Standard Variable Rates (SVRs) but not always as much as you would save by remortgaging. 

To ensure you're securing the most cost-effective remortgage, use Mojo's Mortgage Matcher to compare deals quickly. While the remortgage process can be more extensive than a product transfer, it has the potential to save you money in the long run. 

Does Virgin Money offer buy-to-let mortgages?

Yes Virgin Money offer buy-to-let mortgages to those able to meet their specific eligibility criteria:

• Minimum income of £25,000

• Rental income must cover 145% of mortgage repayments for purchases and 125% for remortgages with no additional borrowing

• You must be a homeowner

• Personal income cannot be used for affordability assessment if you're a portfolio landlord (own more than four mortgaged buy-to-let properties), have an LTV exceeding 75%, or will be aged 75 by the end of the mortgage term

You can compare Virgin with all other buy-to-let lenders to discover the best deal through Mojo.