Our mortgage features
If you have a mortgage with flexible features, you may be able to take advantage of a full range of options to make life a little easier for you.
Fully Flexible mortgages
Our Fully Flexible Mortgage range offers the following flexible features:
Mortgage overpayments
If you would like to pay a bit extra each month, or you would prefer to overpay with a lump sum, you can. With our flexible mortgages you can make unlimited, free-of-charge overpayments, provided that the mortgage is not redeemed in full.
As overpayments reduce the amount of money you have borrowed on your mortgage, this could result in a saving of the amount of interest charged.
Following receipt of an overpayment, your outstanding balance and the Interest charged will be recalculated.
Borrow back
If you have a fully flexible mortgage and you make overpayments which total at least £500, then subject to Virgin Money's prior agreement and you meeting our affordability requirements, you may be able to borrow back some, or all, of the amount overpaid.
The interest rate charged on any amount that you borrow back will be at your prevailing mortgage interest rate. The minimum amount that you can apply to borrow back at any one time is £500.
Mortgage underpayments
If you have a fully flexible mortgage and you make any overpayments, you may apply to make a lower monthly payment or stop your monthly payment. All underpayments are subject to Virgin Money's prior agreement and your mortgage not being in arrears.
Payment holidays
You may apply for a one-month payment holiday for every nine consecutive full monthly payments you make. The maximum payment holiday period is three months, which can be applied for once you have made 27 consecutive full monthly payments.
Interest will continue to be charged during a payment holiday. Taking a payment holiday will also increase the outstanding balance upon which future loan interest charges are calculated.
When deciding if we will allow a payment holiday, we will assess your ability to repay the revised total mortgage balance and the associated monthly payments, based on your individual circumstances at the time. This will include an affordability assessment, which may require income verification. All payment holidays are subject to Virgin Money's prior agreement.
Please note:
Not all of our mortgages come with these features. Please check your mortgage offer for details. If you would like to take advantage of our flexible features, we will look at your individual circumstances before any agreement is made. This will include an affordability assessment, which may require income verification. All flexible mortgage features are subject to terms and conditions.
Get started
To find out more please call us to discuss your options
Call us on
0345 602 8301
Opening times
We're here from 8am - 6pm Monday to Friday, 9am - 1pm Saturday.
Call charges and information| Number | Cost |
|---|---|
| 03 numbers | Same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. |
| 084 numbers | Maximum of 7p per minute, plus your phone company's access charge. |
| 087 numbers | Maximum of 13p per minute, plus your phone company's access charge. |
| 0800 numbers | Free from UK landlines and personal mobile phones. |