Following the acquisition of Northern Rock in January 2012, Virgin Money started its journey with £14 billion of mortgage balances and that figure has risen by 43% in just over two years. This makes Virgin Money one of the fastest growing mortgage lenders and according to Bank of England Funding for Lending data was the third largest net mortgage lender in the UK in 2013.
The profile of the mortgage book shows Virgin Money has provided mortgages to customers across the length and breadth of the country – in postcode regions ranging from Wick in the Scottish Highlands to Truro in Cornwall. The book also reflects a broad distribution throughout the UK, linked to population density, with the highest levels of lending in the South East and London.
Virgin Money also reported that they have helped 72,000 households get a mortgage or move house, as well as 6,500 first time buyers.
Peter Rogerson, Savings and Mortgages Director said:
“We are delighted to have surpassed the £20 billion milestone as we maintain our safe and responsible growth momentum. Looking forward we will continue to grow the business and work with our intermediary partners to help more customers achieve their home ownership ambitions, by offering a broad range of attractive products backed by a strong customer service proposition.”
