Best Virgin Money mortgage deals
Whether you're an existing customer or a first-time buyer, compare the best mortgage interest rates from Virgin Money with our comparison tool below. To see what rate you could be offered, create a free Tembo recommendation.
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When you create a Tembo recommendation, you'll get a free, downloadable Mortgage In Principle for each of the schemes you could qualify for.
Already have a Virgin Money mortgage?
Create your own free, personalised recommendation to see the best way for you to remortgage, including if you should stay with Virgin Money or change to another provider.
What type of mortgages does Virgin Money offer?
Virgin Money offers a wide range of mortgage products, including fixed-rate and tracker mortgages for first-time buyers, home movers, remortgagers and buy-to-let customers. They also offer some niche products including green mortgages, 95% mortgages for buyers with smaller deposits, and shared ownership.
As with any provider, whether Virgin Money is the best mortgage lender for you depends on your affordability and unique circumstances, what mortgage products you're eligible for, and what the market is currently like. An expert mortgage broker like Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
How much could I borrow from Virgin Money?
Like most mortgage lenders, Virgin Money offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. But typically you can borrow between 4-4.5 times your income, although some applicants may be able to borrow more than this.
By creating a free Tembo recommendation, you can see what you could be offered for a mortgage by Virgin Money and other providers without applying.
Can I make overpayments on a Virgin Money mortgage?
If you currently have a Virgin Money mortgage and you're on a fixed-rate product, you can only overpay by up to 10% of your outstanding loan balance each year. So for example, if you have an outstanding mortgage balance of £180,000, this would mean you can overpay by a maximum of £18,000 without being hit by an Early Repayment Charge (ERC). Anything above this 10% threshold, you will have to pay an ERC on.
Virgin Money is the first-choice mortgage lender for many customers as one of the UK's largest providers. They are known for having some of the cheapest deals on the market, but for those who need more specialist products they may not be the best choice. A mortgage broker like Tembo can help you work out if Virgin Money is the right lender for you.
Ruth Russell
Mortgage Advisor at Tembo
Are Virgin Money a good lender?
Virgin Money is one of the go-to providers in the UK as the 7th latest mortgage provider. Their popularity is partially due to consistently offering some of the cheapest deals on the market across a range of LTV (loan to value) brackets, including up to 95% LTV for first-time buyers, remortgagers and home movers. However, they do not offer as many specialist schemes for customers who may have affordability hurdles or a complicated situation which prevents them from using a standard mortgage.
Another thing to consider is customer satisfaction. In comparison to other high-street names like Santander, Nationwide and TSB, Virgin Money was given a below-average customer score by Which? in 2023 and is only rated 1.3 out of 5 from nearly 7,000 reviews on Trustpilot.
Does Virgin Money offer guarantor mortgages?
Virgin Money does not currently offer guarantor mortgages, but they do accept gifted deposits. There are a range of lenders that do offer guarantor mortgages however, like Joint Borrower Sole Proprietor mortgages or family offset mortgages.
It can be difficult to know which lenders offer guarantor mortgages and which one is best for you and your family as this depends on your unique affordability and what schemes you're eligible for. Working with a mortgage broker like Tembo who specialises in family-supported mortgages can help you navigate lenders' different eligibility criteria and find the best deal for you from across the market.
Looking for a new mortgage?
First home
Unsure which mortgage deal to go for? Buying your first home can be confusing and overwhelming. Get help from the experts.
Remortgage
Coming to the end of your current deal? Remortgage onto a new one with our help. We'll show you whether you should stay with the same lender, or switch.
Moving home
Upsizing to your forever home? Or maybe you're downsizing to something more manageable. Whatever your reason for moving, we can help you find the best deal for you.
Buy to Let
Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
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The application process
4 simple steps to buying your first home or remortgaging
Make a Tembo plan
Check your eligibility for a range of mortgages and buying schemes, and get a personalised recommendation with interest rates and repayments in under 10-minutes.
Talk to an expert
Book a call with our experts to complete the qualification process, and we’ll cover off any questions you might have about any of the mortgage deals and budget-boosting schemes we advise on.
Apply for your new deal
Next, your dedicated advisor will undertake full affordability checks to prepare the mortgage application. Then we’ll submit it on your behalf!
Make home happen
Your Tembo advisor will be on hand to ensure everything runs smoothly, so you can move onto your new deal as quickly as possible.
