What does this mean for me?
In October 2024, Virgin Money, Clydesdale Bank and Nationwide Building Society became part of the same group.
Following Court approval on 23 February 2026, Virgin Money’s business transferred to Nationwide on 2 April 2026.
At Virgin Money and Nationwide, we consider our suppliers as a source of competitive advantage and aim to make it attractive and easy to do business with us. We focus on developing long-term strategic relationships and working collaboratively with those suppliers that are vital to the success of our business – and rest assured this will continue to be our approach.
The transfer on 2 April 2026 included your relationship with Virgin Money and Clydesdale Bank. The transfer hasn’t affected any agreements you may have with Nationwide, or other subsidiaries of the Nationwide group. As we continue to bring the two businesses together as a result of the transfer, we may change some of our arrangements with you. Of course, any contract amendments would be discussed and agreed with you first.
What does this mean for my client?
Prior to the transfer on 2 April 2026, we wrote to all of our existing customers including those who had a Mortgage Offer, outlining what was happening and how the transfer might affect them.
If a customer received a mortgage offer before or after the transfer on 2 April 2026, this is still binding and will not be withdrawn or removed. The mortgage documents haven’t changed as a result of the transfer, and we won’t send them any new paperwork. It just means that wherever ‘Clydesdale Bank PLC’ is mentioned, this will have changed to ‘Nationwide Building Society’ after the transfer, which completed on 2 April 2026.
Your mortgage intermediaries questions answered
To make it clear what we’re saying on this page, here are some of the terms we use and what we mean when we use them:
| Term | Meaning |
|---|---|
| Virgin Money/we/our/us | When we say ‘Virgin Money’, ‘we’, ‘our’ or ‘us’, we mean Clydesdale Bank PLC, which prior to the transfer, traded under the names ‘Virgin Money’, ‘Clydesdale Bank’ and ‘Yorkshire Bank’. It’s this company’s business that has transferred to Nationwide. |
| Clydesdale Bank PLC | This is the legal entity which, prior to the transfer, traded under the names ‘Virgin Money’, ‘Clydesdale Bank’ and ‘Yorkshire Bank’. |
| Nationwide | This is a quick way of saying Nationwide Building Society, which owns Virgin Money. It is the entity that Virgin Money’s business has been transferred to and which now trades as ‘Nationwide Building Society’, ‘Virgin Money’ and ‘Clydesdale’. For more info on Nationwide, take a look at Q7 below. |
| Transfer | This means the transfer of Virgin Money’s business to Nationwide. The transfer was completed under Part VII of the Financial Services and Markets Act 2000. Following Court approval on 23 February 2026, Virgin Money and Clydesdale Bank’s businesses transferred to Nationwide on 2 April 2026. |
| Mutual | This means a business that's owned by its members and run for their benefit, with no shareholders to satisfy in the way that banks do. Nationwide is a mutual. |
| Terms | This means the terms and conditions of a customer's account |
Questions about the transfer
Nationwide acquired Virgin Money and Clydesdale Bank in October 2024, but after that Virgin Money has continued to operate as a separate legal entity within Nationwide’s Group until the transfer on 2 April 2026. The transfer of Virgin Money’s business to Nationwide was a key step in combining the two businesses, working for the benefit of our customers and members to create a mutually owned, full-service organisation.
As a result of the transfer, Nationwide is now the UK’s second largest provider of mortgages, ready to invest more in customer service and offer a wider range of products while also offering the benefits of a large mutual to small and medium-sized businesses for the first time.
Following Court approval on 23 February 2026, the transfer completed on 2 April 2026.
The transfer legally moved your clients’ mortgage account(s) from Virgin Money or Clydesdale Bank to Nationwide. It did not move any mortgage account(s) your client already had with Nationwide.
As a result of the transfer, there hasn't been any change to your clients’ mortgage account(s):
- Their mortgage account(s) are still ‘Virgin Money’ branded and our contact details have stayed the same.
- Clydesdale Bank mortgages have changed to ‘Clydesdale’ branding – we’ve sent separate communications with more information about this to impacted customers.
- You’ll now see the Nationwide name at the bottom of emails, letters and statements.
- There are no changes to sort codes, account numbers or any account features including the interest rate on the account.
- Your client doesn’t need to make any changes to the way they make payments, including Direct Debits and standing orders.
- Our intermediaries website for Clydesdale has changed to clydesdaleforintermediaries.co.uk.
As we continue to bring the two businesses together as a result of the transfer, we may make some changes to our Terms, processes or IT systems. This will happen gradually.
As the transfer was governed by Part VII of the Financial Services and Markets Act 2000, it had to be approved by the Court.
A hearing took place in the High Court in London on 23 February 2026, which approved the transfer. The transfer completed on 2 April 2026.
As a result of the transfer, agreements and contracts are now legally held with Nationwide (instead of Clydesdale Bank PLC).
Virgin Money mortgages will continue to be ‘Virgin Money’ branded. Clydesdale Bank mortgages have change to ‘Clydesdale’ branding – we've sent communications with more information about this.
If we make other changes, we will contact you in advance to give you more information.
You won’t notice any difference in your day-to-day business with us as a result of the transfer and our contact details will stay the same.
Either you or your clients can find more information about the transfer and get a copy of the scheme document, together with other important information including a summary of the scheme and a copy of the formal notice of the transfer, at virginmoney.com/nationwide-transfer. If you would like us to send you a copy of the scheme document, summary of the scheme, or formal notice of the transfer, please get in touch.
Call our dedicated team on 0800 066 5008* (or 00 44 141 880 2050** from outside of the UK). We’re here from 8am to 6pm, Monday to Friday and 9am to 3pm on Saturdays.
Alternatively, email us at nationwide-transfer@virginmoney.com or write to us at:
Nationwide Transfer
The team at Virgin Money
Sunderland
SR43 4JB
Nationwide is the world’s largest building society, with a 140-year history. Prior to the transfer, Nationwide had 16 million members. It operates as a British mutual financial institution, which means it’s owned by and run for the benefit of its members.
Nationwide offers a wide range of banking products and services, including mortgages, current accounts, personal loans, credit cards and business savings accounts. In October 2024, Virgin Money became part of the Nationwide Group and on 2 April 2026, Virgin Money’s business transferred to Nationwide.
Yes. You should continue to use Virgin Money and Clydesdale Bank application systems to manage your new and existing business in the same way you did prior to the transfer.
Yes. You can carry on using the same contact details as you used prior to the transfer for your Business Development Manager.
If you have any questions on the transfer, you can call our dedicated team on 0800 066 5008* (or 00 44 141 880 2050** if you’re calling from outside the UK). We’re here from 8am to 6pm, Monday to Friday and 9am to 3pm on Saturdays.
If you prefer, you can also email us at nationwide-transfer@virginmoney.com.
Any personal data Virgin Money or Clydesdale Bank used or held on 2 April 2026 transferred over with the business, making Nationwide the data controller. This means that Nationwide is now responsible for how your data is stored and used.
It does not change any data Virgin Money no longer had at 2 April 2026 nor does it apply to any data Virgin Money acquires after 2 April 2026.
The transfer hasn’t changed how you update your personal details or how you exercise your data subject rights. You can still to do this in the usual way through Virgin Money or Clydesdale Bank like you could before the transfer. It also hasn’t changed how your data is used and stored, but we may make some changes as we continue to bring the two businesses together as a result of the transfer. Whatever happens, your data will only ever be used in line with relevant data protection rules.
We’ll make sure we keep the Virgin Money Privacy Notice up to date, so you can find out about any changes at virginmoney.com/security.
Marketing permissions transferred over with your clients’ mortgage account(s) on 2 April 2026, so their preferences stayed the same, even if they were also a Nationwide customer and opted out of their marketing.
Similarly, if they’ve opted out of Virgin Money or Clydesdale Bank’s marketing, that hasn’t changed. But they’ll keep getting any marketing communications from Nationwide if they’ve given them permission. For example, if they’ve opted out of Virgin Money or Clydesdale Bank’s marketing, but opted into Nationwide marketing, that hasn’t changed – they’ll continue to receive marketing communications from Nationwide as they did prior to the transfer.
You won’t need to resubmit the application, and if we need you to do something, we will be in touch.
If the mortgage completed before the transfer (2 April 2026), it will have completed as a mortgage made by Virgin Money or Clydesdale Bank.
If the mortgage completed after the transfer (2 April 2026), it will have completed as mortgage made by Nationwide.
We’re happy we’ve made your client a mortgage offer. This is still binding, so it’s not being withdrawn or removed.
The mortgage documents haven’t changed as a result of the transfer, and we won’t send them any new paperwork. It just means that wherever ‘Clydesdale Bank PLC’ is mentioned, this now means ‘Nationwide Building Society’ after the transfer, which took place on 2 April 2026.
You should keep submitting business to Virgin Money, Clydesdale Bank and Nationwide in the same way as you did before the transfer. If this changes, we’ll be in touch.
No, not as a result of the transfer. The transfer has not caused any changes to your arrangements. But as we continue to bring the businesses together, we may make changes to some of our arrangements with you. If we do, we’ll always let you know what these changes involve and what they’ll mean for you.
Right now, there aren’t any changes to the Virgin Money or Clydesdale Bank procuration fees or how we work with intermediaries as a result of the transfer. If we do decide to make changes, we’ll always let you know what’s happening, explain what it means for you and make it as straightforward as we can.
No. There aren’t any changes like that as a result of the transfer. But as we continue to bring the businesses together after 2 April 2026, we may make some changes to our Terms, processes or IT systems. This will happen gradually. And if we make a change that impacts you, we’ll always give you plenty of notice and explain what it means for you.
No. There are no changes to valuations in connection with the transfer. If we make a change that impacts you, we’ll always give you plenty of notice and explain what it means for you.
No. You don’t need to do a thing. You can keep doing business with us, just as you did prior to the transfer. If we do change anything, we’ll let you know.
There aren’t any changes to our lending policy as a result of the transfer. If we make any changes to lending policies in the future, we'll let you know about them in the normal way.
There are no changes to either our product transfer or product switch processes as a result of the transfer. If we make any changes in the future, we’ll let you know about them in the normal way.