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Add or remove a person from your mortgage
If you’ve had a change in personal circumstances and need to change the names of the people on your mortgage account, you can request this. We refer to this as a 'change of parties'.
How long will it take
We want to process your application as quickly as possible for you. If we receive everything we need to support your application, we will aim to issue your offer within 2 weeks. Unfortunately we can’t control your solicitors timescales, therefore we are unable to give an exact timeline. But to set a reasonable expectation, you should allow at least 12 weeks.
What is the process?
Download and complete the form
You need to download and complete a change of parties form and send it to us along with the relevant information noted on page 2 of the form. Please note, only the parties remaining on the mortgage are required to complete this form.
The fee, if your request is agreed, is £200.00 and represents the cost of any administration work. If you are making other amendments there may also be additional charges payable to Virgin Money. You will also need to pay solicitors’ fees which we have no influence over – you should discuss these directly with your solicitors.
Credit check and income verification*
When we receive your form we will run a credit check and verify your income, just as we did for your initial mortgage application. This is to ensure we continue to lend responsibly and the mortgage will remain affordable.
If we need additional information or documents to support our decision, we will request this from you. We will send you a mortgage ‘illustration’ showing the changes you have requested. However we will still need to assess your application fully, and we will confirm our decision to you in step 3 ‘Offer’ below.
*Our Underwriters will call, text and email you throughout your application to keep you updated. Sometimes we may need to book a telephone appointment to speak to you, which will be arranged at your convenience.
Once we have received all of the relevant information and if we agree to the change of parties, an Offer will be sent to you. This must be signed and returned to us and you will be required to pay your application fee at this stage.
Instructing your solicitor
Once you have accepted the offer and paid any fees, we will send the instructions to your solicitor. They will arrange for the relevant documentation to be drawn up and we will work with them to complete your application. We will text you every 2 weeks to keep you updated.
The solicitor you instruct must be on Virgin Money’s approved panel. We will check this for you as part of the application, however if you are unsure and would like details of solicitors who are on our panel please call 0345 602 8301 (option 2) and we will be happy to provide these.
Following the work with your solicitor, we will send you confirmation of the successful completion of your change of parties. This will also confirm any changes to your monthly payment if applicable.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Frequently asked questions
Who needs to complete the form?
The person who wants to stay on the mortgage account and anyone else they may like to add. You will notice there is only room on the form for 2 applicants, if more than 2 applicants are looking to be named, additional forms will need to be requested or downloaded from our website.
Should I apply before I’m going though divorce courts, will this delay things?
We suggest completing court proceedings prior to applying for a Change of Parties due to the length of time we can keep an application open.
Can I add someone to the mortgage who isn’t going to live in the property?
Yes, but we will only take their income into consideration.
The person I want to remove is still going to live in the property, is this ok?
No, if someone is taken off the mortgage, they can’t live in the property.
Am I able to review my mortgage product whilst applying for a Change of Parties?
No, you need to decide which application you want to do first.
If you need to speak to us we're here from 8am to 8pm Monday to Friday and 9am to 1pm Saturdays.