Changes to Virgin Money product transfers
Use the Virgin Money product transfer checker to find the right route for your client.
If your client is switching to Nationwide, continue to use Virgin Money Intermediary Support and your Virgin Money Business Development Manager while you complete the switch.
Once the switch has completed and your client has a Nationwide mortgage, contact your Nationwide Business Development Manager for future support.
The deadline depends on when your client’s switch is due to complete.
If your client wants to select a different Nationwide rate after submitting an application, you must cancel the existing application and submit a new one before the relevant cut-off date.
After the cut-off date, you cannot cancel the application, change the selected product or submit a replacement Nationwide application.
| Switch notification issued | Switch completion month | Cancellation cut-off date |
|---|---|---|
| October 2026 | February 2027 | 7 January 2027 |
| November 2026 | March 2027 | 11 February 2027 |
| December 2026 | April 2027 | 11 March 2027 |
| January 2027 | May 2027 | 8 April 2027 |
| February 2027 | June 2027 | 13 May 2027 |
| March 2027 | July 2027 | 10 June 2027 |
| April 2027 | August 2027 | 8 July 2027 |
Your client’s cut-off date will also be shown in their communications and during the switching journey.
You’ll receive a procuration fee of 0.38% when your client completes a Nationwide product switch through this process. This is in line with the existing Virgin Money procuration fee rate.
Nationwide will pay the fee using its standard intermediary payment process and timescales.
If you complete another product switch for your client at a future maturity, the standard Nationwide procuration fee available at that time will apply.
Your client may be able to switch to a Nationwide mortgage product when their existing Virgin Money deal approaches maturity.
Use the Virgin Money product transfer checker to find out what to do next. Enter your client’s mortgage account number, then answer a few questions about what they want to do.
Depending on your client’s circumstances, the checker will tell you to continue through Nationwide, use Virgin Money Online or contact Virgin Money.
Your client will not need:
- a new affordability assessment
- a credit check
- a property valuation
- legal work
There are no legal or administration fees for making the switch.
Some Nationwide mortgage products have a product fee. You’ll see any available fee options when selecting your client’s mortgage product.
Only the Virgin Money residential mortgage account named in your client’s invitation will switch to Nationwide.
Any other Virgin Money mortgages they hold, including buy-to-let mortgages, will not be included in this switch.
Virgin Money and Nationwide products, rates and fees have been aligned for this process.
The product transfer checker will direct you to Virgin Money or Nationwide based on your client's mortgage and what they want to do.
You'll see the products, rates and fees available for your client through that route.
When the switch completes:
- your client’s Virgin Money mortgage account will close
- a new Nationwide mortgage account will open
- their existing Direct Debit will transfer for their first Nationwide mortgage payment.
Virgin Money will send your client a closing redemption statement. Nationwide will send them a First Payment Notification confirming the amount and date of their first payment.
Your client’s first Nationwide mortgage payment will normally be collected on the first day of the month their Nationwide mortgage product starts.
For example, if their Virgin Money deal ends on 31 January, their first Nationwide payment will normally be collected on 1 February.
Nationwide will send your client a First Payment Notification during the month before the switch. This will confirm the payment amount and collection date.
Both Virgin Money and Nationwide switcher products are available on sourcing as usual. If you are not sure whether your client has access to a Nationwide or a Virgin Money product, you can identify the appropriate journey using the Product Transfer Checker. Link opens in a new window
If your client is able to proceed via the Virgin Money to Nationwide product transfer journey, you may need to select Nationwide as the existing lender within your sourcing system to ensure the correct switcher products are displayed. You can then complete the application through the bespoke Nationwide switcher journey and generate an ESIS containing the correct procuration fee information.
If the Product Transfer Checker directs your customer to a Virgin Money product, you can continue as usual by selecting Virgin Money as the existing lender and progressing through the standard Product Transfer process for a maturing Virgin Money mortgage.