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Coronavirus support for Virgin Money Mortgage customers

Frequently Asked Questions


General enquiries

I'm worried about paying my mortgage

If you are experiencing financial difficulties due to the current coronavirus situation you can request a mortgage payment holiday for three months. Please complete this short mortgage payment holiday form, we’ll take a look at your request and come back to you over the next week to confirm when your mortgage payment holiday will start.

Our contact centres are extremely busy at the moment, so requesting a mortgage payment holiday online is the fastest way for it to be put in place for you.

It’s important to remember that interest will continue to be charged during your payment holiday. Our mortgage payment holiday calculator will show you how your monthly payments could change after your payment holiday ends.

We will write to you towards the end of your payment holiday, at least two weeks before your next payment will be due. This letter will confirm your new balance and revised payment taking into account any interest that has been added during your payment holiday. If you would like to discuss alternative options, the letter will explain how you can get in touch.

Whilst we will ensure that the payment holiday does not negatively impact your credit file, lenders may take into account other information when making future lending decisions.

You can find out about other ways we can help you here.

I want to understand more about a mortgage payment holiday

If you've already taken a three month payment holiday and would like to request a further extension - our separate online service will help you understand your options.

Depending on your circumstances, we may ask you to provide further details so we can support you, but we'll let you know before we ask for this information.

If you are experiencing financial difficulties due to the current coronavirus situation, you can apply for a payment holiday for three months. Please complete this short mortgage holiday payment form. We’ll take a look at your request and come back to you over the next week to confirm when your mortgage payment holiday will start. Our contact centres are extremely busy at the moment, so requesting a mortgage payment holiday online is the fastest way for it to be put in place for you.

It’s important to remember that interest will continue to be charged during your payment holiday. Our mortgage payment holiday calculator will show you how your monthly payments could change after your payment holiday ends.

We will write to you towards the end of your payment holiday, at least two weeks before your next payment will be due. This letter will confirm your new balance and revised payment – taking into account any interest that has been added during your payment holiday. If you would like to discuss alternative options, or are continuing to experience financial difficulties, this letter will explain how you can get in touch.

A payment holiday extension for a further three months is one of a range of options available. Please follow the guidance provided and do not use this online form to request an extension to your payment holiday.

Whilst we will ensure that the payment holiday does not negatively impact your credit file, lenders may take into account other information when making future lending decisions.

A mortgage payment holiday is a period when your lender gives you permission to miss your regular mortgage payments.

It’s important to remember that interest will continue to be charged during a payment holiday. Therefore, when your payment holiday ends, your overall mortgage balance and monthly payments are likely to increase.

Our mortgage payment holiday calculator will show you how your monthly payments could change after your payment holiday ends.

If you are experiencing financial difficulties due to the current coronavirus situation, the Government has announced that Lenders will offer mortgage payment holidays for up to three months.

If you are a landlord and your tenant is experiencing financial difficulties due to the current situation, you can apply for a payment holiday for up to three months to offer support to your tenant during this time.

We will be in touch once we review your request to confirm when your mortgage payment holiday will start. For most people, this will be their next regular monthly payment, but if this is close to the date that we review your request, your payment holiday may start the next month.

It’s important to remember that interest will continue to be charged during your payment holiday. At the end of your payment holiday we’ll recalculate your monthly payments – taking account of the interest added.

Our mortgage payment holiday calculator will show you how your monthly payments could change after your payment holiday ends.

By spreading the cost of your payment holiday over the remaining term of your mortgage, the amount you will pay over the life of your loan will be more than it would have been had you not taken the payment holiday. The total amount you will repay to us could be higher than the amount stated in your Offer of Loan.

We will write to you towards the end of your payment holiday, at least two weeks before your next payment will be due. This letter will confirm your new balance and revised payment – taking account of the interest that has been added during your payment holiday. If you would like to discuss an alternative payment arrangement, the letter will explain how you can get in touch.

Whilst we will ensure that the payment holiday does not negatively impact your credit file, lenders may take into account other information when making future lending decisions.

No, your mortgage term does not change as a result of taking a payment holiday.

We will write to you towards the end of your payment holiday, at least two weeks before your next payment will be due. This letter will confirm your new balance and revised payment - taking account of the interest that has been added during your payment holiday.

If you would like to understand the options available to you when your coronavirus payment holiday come to an end, our separate online service will help you do this.

Yes, if you are experiencing financial difficulties due to the current coronavirus situation you can request a mortgage payment holiday of three months. Please complete this short form, we’ll take a look at your request and come back to you over the next week to confirm when your mortgage payment holiday will start.

Our contact centres are extremely busy at the moment, so using this link to request a mortgage payment holiday is the fastest way for it to be put in place for you.

It’s important to remember that interest will continue to be charged during your payment holiday. Our mortgage payment holiday calculator will show you how your monthly payments could change after your payment holiday ends.

If you are have missed a mortgage payment before the start of the payment holiday, we will write to you towards the end of your payment holiday, at least two weeks before your next payment to discuss next steps. If we are unable to contact you, the letter will explain how you can get in touch.

If you are in arrears before the start of the payment holiday, we will call and write to you towards the end of your payment holiday, at least two weeks before your next payment will be due to discuss next steps. If we are unable to contact you, the letter will explain how you can get in touch.

We understand that this is an uncertain time. We will write to you towards the end of your payment holiday, at least two weeks before your next payment will be due. This letter will confirm your new balance and revised payment – taking account of the interest that has been added during your payment holiday. If you would like to discuss alternative options, the letter will explain how you can get in touch.

I have recently applied for a mortgage with Virgin Money

Following updated Government guidance, property valuers are now able to carry out physical valuations across the UK. Where possible, we will continue to use a combination of Automated Valuations - a computer estimate based on previous sales prices and property value indices, Desktop Valuations and Physical Valuations.

We’re continuing to monitor the situation closely and we’re working hard to support as many customers as possible during these difficult times.

I have a question about a Product Transfer or Additional Borrowing

Yes, once you are no longer experiencing financial difficulties and your payment holiday has ended. We have a range of products available to suit customer needs.

To apply for additional borrowing, please call 0345 605 0500 and we can chat through your individual circumstances. Please check here for our opening hours. Link opens in a new window

We may need to pause your request for additional borrowing if you have also applied for a payment holiday. We’ll be in touch if we need to do this.

Once your payment holiday has ended, you can apply for additional borrowing and your application will follow our usual process and criteria.

This is fine. Depending on the timing of your two requests, the Offer of Loan for your new product deal may not take into account any interest that will be added during your payment holiday.

We will write to you with details for both transactions and any changes to your account and payments.

As a responsible lender we must ensure that all lending is affordable, therefore we have taken the difficult decision not to consider any income from employment which is currently ‘furloughed’ to assess the affordability for additional borrowing. Additional borrowing requests can be considered once you exit the Job Retention Scheme. Any application for additional borrowing will be subject to Virgin Money lending policy and a satisfactory affordability assessment at the time.

As a responsible lender we must ensure that all lending is affordable, therefore we have taken the difficult decision not to consider any additional borrowing request from existing customers who have applied for the Government's income support scheme. Once you feel that you are no longer financially impacted by coronavirus, an additional borrowing request can be considered subject to Virgin Money lending policy and a satisfactory affordability assessment at the time of application.

I am an existing customer planning to move home

Yes, we’d be happy to discuss this further with you. Please call 0345 605 0500 and we can chat through your individual circumstances. Check here for our opening hours. Link opens in a new window

If you require additional borrowing and have also applied for a payment holiday, we may need to pause your request to move home. We’ll be in touch if we need to do this. Once your payment holiday has ended, you can apply for additional borrowing and your application will follow our usual process and criteria.

You would have been advised that you could either 'port’ your existing mortgage to a new property within three months, or have half of your early repayment charge refunded if you took out a new product deal.

Due to the current situation and restrictions on valuations, we have extended the ‘Porting’ window from three to nine months.

We are currently able to assess applications for the purchase of a new residential property up to 85% LTV, and the purchase of a BTL property up to 80% LTV.

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