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Everyday mortgages

Our Everyday Mortgage range offers the following flexible features:

Limited overpayments

You can make overpayments of up to 10% of your mortgage balance per calendar year without incurring an Early Repayment Charge, whilst in the initial product period eg. A fixed rate.

Any overpayments will immediately reduce the outstanding loan, resulting in less interest being charged.

You can make a one-off overpayment via your online banking, or a regular overpayment which can be collected with your Direct Debit.

Simply call us on 0345 602 8301, to set up a regular overpayment. There are two options, and you can call to change or cancel your overpayments at any time:

1. A fixed regular overpayment
We can collect a set amount every month, which will remain unchanged even if your contractual payment changes
E.g. You ask for £700 to be collected, which includes a £500 contractual payment, and an overpayment of £200

2. Offset regular overpayment
We can collect a set amount above your contractual payment each month
E.g. £200 to be collected in addition to your contractual payment
This means the monthly payment amount may change in line with any changes to your contractual payment

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.

If you require a little more flexibility, you may be interested in our range of Fully Flexible Mortgages. These flexible products allow you to take advantage of a full range of mortgage features including unlimited overpayments, the ability to apply to borrow back, underpayments and payment holidays.

Please note that all flexible mortgage features are subject to terms and conditions.

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. All flexible mortgage features are subject to terms and conditions.

Don’t risk losing your home – keep up those mortgage repayments

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 and 9am - 1pm on Saturday.

NumberCost
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084 numbersMaximum of 7p per minute, plus your phone company's access charge.
087 numbersMaximum of 13p per minute, plus your phone company's access charge.
0800 numbersFree from UK landlines and personal mobile phones.

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