If you were a mortgage customer with a Virgin Money or Clydesdale Bank mortgage on 2 April 2026
In October 2024, Virgin Money 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.
The transfer hasn’t changed your day-to-day banking, and you can continue to manage your Virgin Money or Clydesdale Bank branded mortgage account in the same way as you did before the transfer. As we continue to bring the two businesses together as a result of the transfer, we may make some changes. If a change impacts you, we’ll give you plenty of notice and explain what it means to you.
The transfer has changed your mortgage contract to replace Virgin Money with Nationwide, but this hasn’t changed the way your mortgage operates.
We’d be grateful if you, and anyone else with an interest in the transfer, could take a few minutes to read our questions and answers below. They include some important information to help you understand what the transfer on 2 April 2026 means for you. These questions and answers are correct as at 3 April 2026.
To make it clear what we’re saying on this page, visit Your Questions Answered to find some of the terms we use and what we mean when we use them.
Your mortgage account questions answered
No. The transfer hasn’t made any difference to your mortgage interest rate, the amount of your monthly mortgage payments or how you make your monthly mortgage payments.
If you have a mortgage where the interest is charged at either a tracker rate or a variable rate, the interest may change, the same as it could before the transfer. If the interest rate does change, your monthly mortgage payment will need to change too. We will let you know in the usual way and give you plenty of notice.
If someone gets in touch asking you to change how you pay your mortgage, it’s a scam. Stop all contact and call us right away. You can find our number at virginmoney.com/report-fraud.
The transfer hasn't affected your Virgin Money mortgage product and features. It will change your mortgage contract to replace Virgin Money with Nationwide, but this has not changed the way your mortgage operates.
No. There isn’t any change to your mortgage interest rate as a result of the transfer. Our variable rates haven’t changed to Nationwide’s ‘Base Mortgage Rate’ or ‘Standard Mortgage Rate’.
We’ll continue to manage the following rates as we did before the transfer:
- Virgin Money Standard Variable Rate
- Virgin Money Buy-to-Let Variable Rate
- Clydesdale Standard Variable Rate
- Clydesdale Offset Variable Rate
- Clydesdale Offset Variable Investment Housing Loan Rate
Please remember that we regularly review our interest rates and can make adjustments, for example to respond to a change in the Bank of England base rate. We’ll always let you know before any rate change happens and give you the right amount of notice and explain what it means to you.
If your mortgage completed before the transfer date on 2 April 2026, it completed as a mortgage made by Virgin Money.
If your mortgage completes after the transfer date, it will complete as a mortgage made by Nationwide.
If your mortgage completes after the transfer date, it also means the consolidation, cross-default and all monies rights we have will now apply to accounts you hold with Nationwide as well as those you hold with Virgin Money. The answers we’ve given to the ‘General’ section Q30 – Q34 won’t apply to you.
We’re happy we’ve made you a mortgage offer. This is still binding, so it’s not being withdrawn or removed.
Most of the Terms of your mortgage documents haven’t changed as a result of the transfer, and we won’t send you any new paperwork.
The transfer means that wherever ‘Clydesdale Bank PLC’ is mentioned, this now means ‘Nationwide Building Society’.
If your mortgage completed after the transfer date on 2 April 2026, it also means the consolidation, cross-default and all monies rights we have will now apply to accounts you hold with Nationwide as well as those you hold with Virgin Money. The answers we’ve given to the ‘General’ section Q30 – Q34 won’t apply to you.
Yes. After the transfer, Nationwide mortgage products still remain a different brand. This means you can only change to a Nationwide mortgage product by doing a remortgage. A remortgage will trigger any early repayment charge that applies to your mortgage in the same way as it did before the transfer.
No. There are no changes to how you can make the payments on your mortgage. You’ll need to keep making mortgage payments according to your mortgage contract, just as you did before the transfer.
No. All the charges and features are the same, including Terms about lump sum payments.
No. The transfer hasn’t changed how you pay your mortgage. You will still need to make your mortgage payments in the same way as you did before the transfer.
Yes. You are still able to request payment holidays, as set out in your mortgage contract.
No. ‘Nationwide’, ‘Virgin Money’ and ‘Clydesdale’ are different brands. Virgin Money mortgages continue to be ‘Virgin Money’ branded. ‘Clydesdale Bank’ mortgages have changed to ‘Clydesdale’ branding – we’ve sent separate communications with more information about this. You cannot switch to ‘Nationwide’ branded rates if you have a ‘Virgin Money’ or ‘Clydesdale’ branded mortgage. If you’re coming to the end of your deal, we’ll write to let you know what options are available and how you can switch to a new deal.
Nationwide may move your Virgin Money buy-to-let mortgage to The Mortgage Works, a different company within Nationwide group, who specialise in this type of loan. If this happens, it will mean that you no longer qualify for membership – unless you qualify through a different product. Before any transfer happens, Nationwide will contact you with more information.