Lending policy

View our full intermediary lending policy online

Important information - changes to product offering and policy requirements

Some changes to our product range and policy requirements are currently in place.

We’re continuing to monitor the situation closely and we’re working hard to support you and your customers during these difficult times.

For a full update of all changes please view our dedicated update page.

A-Z lending policy

The purpose of this search facility is to provide guidance on Virgin Money's Lending Criteria. You can either browse alphabetically or enter a keyword you would like to search in the panel on the left hand side.

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Valuation fees

Our valuation fee scale is as follows:

Valuation/Purchase PriceBasic Valuation Report fee
Up to £60,000£112
£60,001 - £100,000£132
£100,001 - £150,000£163
£150,001 - £200,000£188
£200,001 - £250,000£214
£250,001 - £500,000£275
£500,001 - £750,000£331
£750,001 - £1,000,000£377
£1,000,001 - £1,500,000£510
£1,500,001 - £2,000,000£663
£2,000,001 - £2,500,000£817
£2,500, 001 - £3,000,000£970
Over £3,000,000By Negotiation

The Basic Valuation Report fee includes the VAT charged to Virgin Money by the valuer.

Please note that the Valuation Fee(s) above are based on the actual property valuation.

If the instructed valuer values the property at a figure which differs from the purchase price/estimated value stated on your mortgage application form, the fee payable may change in accordance with the table above.

In the event the property is valued at a figure higher than that stated on the mortgage application form, the difference between the Valuation Fee payable and the actual amount paid prior to the valuation will be payable prior to the issue of an Offer.

In the event the property is valued at a figure lower than the figure stated on the mortgage application form, the difference will be refunded to you.


Mortgage Valuation - This is a basic valuation which assesses the suitability of the property for mortgage purposes only, instructed by the lender and is purely for their use

It’s important to remember that the mortgage valuation is primarily for our purposes and confirms whether the property is a suitable security for a mortgage. Your clients may want to consider instructing a separate survey to provide them with a more detailed assessment of the condition of the property.

More information on the types of survey available can be found on the ‘Home Surveys’ section of the Royal Institution of Chartered Surveyors website.

Please note that if your clients do instruct their own survey, this will be a separate contract between them and their chosen survey provider with separate fees applying. We will always rely on the mortgage valuation for the purpose of agreeing the mortgage.

In Scotland the Valuation will usually have been completed before Virgin Money receives the mortgage application. In these circumstances a transcript valuation is acceptable providing the valuer is on the Virgin Money Panel.

Please note a physical valuation may not be instructed on all cases.

For product transfer applications we will usually calculate the LTV using an index-linked valuation or AVM. In some instances we may need to carry out a full valuation, but we will always let you know in advance.

We will no longer send you or your clients a copy of the basic valuation report, where no issues are identified.