Your Virgin Money mortgage rate is coming to an end and that means you have a choice to make. You can accept whatever deal Virgin Money puts in front of you, or you can use an FCA-regulated broker to compare your options, secure the most competitive rate available, and earn cashback in the process. At Rate Switch Rewards, we handle the entire Virgin Money product transfer on your behalf at no cost to you.
What Is a Virgin Money Product Transfer?
A product transfer is when you move from one mortgage deal to another with your existing lender, Virgin Money, without changing the loan amount or the lender itself. There is no need to reapply for a mortgage, and in most cases the process takes less than 15 minutes. It is one of the most effective ways for existing Virgin Money customers to reduce their monthly payments when their current fixed or tracker rate expires.
Key Things to Know About Virgin Money Product Transfers
- You can arrange your Virgin Money rate switch up to six months before your current deal expires. Virgin money allows customers to arrange a product transfer up to six months before their current deal ends.
- There are no legal fees, no valuation fees, and no arrangement costs you have to pay upfront, though some rate products carry optional product fees which can be added to the mortgage balance
- Virgin Money offers a range of fixed-rate and tracker products for existing customers, covering residential and buy-to-let mortgages
- Virgin Money does not carry out a new credit check for a standard product transfer, making it accessible for customers whose circumstances have changed since they first took out the mortgage.
- Virgin Money is a major UK bank formed through the acquisition of Clydesdale Bank and Yorkshire Bank. They offer a broad range of residential and buy-to-let mortgage products with a competitive product transfer process.
Calculate Your Rate Switch Cashback Reward
Use our cashback calculator below to see exactly how much you could earn by switching your Virgin Money rate through Rate Switch Rewards. The reward is paid directly to your bank account once your new mortgage completes.
How Long Does a Virgin Money Product Transfer Take?
In most cases, a straightforward Virgin Money product transfer can be completed the same day. Once we access your account details, we identify the available product options, email them to you for review, and submit the application once you have chosen your preferred rate. A mortgage offer is typically issued immediately.
If your transfer involves additional borrowing, a change to your mortgage term, or a switch to interest-only repayment, extra checks may be needed. We will let you know at the outset whether any of those factors apply to your case.
Can I Borrow Extra Money with a Virgin Money Product Transfer?
Yes — Virgin Money allows additional borrowing for existing customers in many cases, subject to affordability and LTV criteria. We can check your eligibility and progress the application.
Why Switch Through Rate Switch Rewards Rather Than Direct?
Many borrowers go directly to their lender when their rate expires. The problem is that Virgin Money has no obligation to offer you the most competitive deal available. As a whole-of-market broker, we compare Virgin Money’s product transfer rates against every available option. If staying with Virgin Money is your best move, we will confirm that with the numbers to back it up.
There is another risk in going direct. If you accept a rate today and rates fall before your new deal starts, you could end up paying more than necessary. We monitor rates on your behalf and will cancel and replace your accepted rate with a lower one if one becomes available before completion. That is something you simply cannot get by dealing with Virgin Money directly.
Benefits of Completing Your Virgin Money Product Transfer Through Us
- Whole-of-market comparison — we check Virgin Money’s rates against all available deals on the market
- Cashback paid directly to your bank account once the mortgage completes
- Rate monitoring — if rates drop after you accept a deal, we switch you to the lower one automatically
- No credit check required for a standard product transfer
- FCA-regulated advice — we are an Appointed Representative of Rosemount Financial Solutions IFA Ltd, FCA ref 535515
- Free service — we are paid by the lender, not by you
The Virgin Money Product Transfer Process Step by Step
- Share your details with us: Your Virgin Money mortgage account number appears on your annual mortgage statement and any correspondence from Virgin Money or Clydesdale Bank. We use this to access your current mortgage account and review the available product options.
- Receive your quotes: We will email you a clear comparison of the rates Virgin Money is offering, alongside any better deals available on the wider market, so you can make a genuinely informed decision.
- Choose your rate: Once you have decided which product suits you best, simply let us know and we will submit the application on your behalf.
- We monitor your rate: After acceptance, we watch the market. If a lower rate becomes available before your new deal starts, we cancel the existing acceptance and secure the better rate for you.
- Cashback paid to you: Once your new Virgin Money mortgage completes and we receive our adviser fee from the lender, we pay your cashback directly into your bank account.
How Can Rate Switch Rewards Help with Your Virgin Money Product Transfer?
We are a team of FCA-regulated mortgage advisers specialising in product transfers and rate switches. We work with over 30 lenders including Virgin Money, and we use specialist software to compare products on a like-for-like basis, taking into account not just the headline rate but also arrangement fees, early repayment charges, and term length.
If you are unsure whether a product transfer is the right move, or whether remortgaging to a new lender would save you more, we will give you an honest answer. Our job is to find you the best deal.
Ready to find out how much your Virgin Money product transfer could earn you? Use the calculator above or complete our short form and we will be in touch.
Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
