Virgin Money: An Ideal Choice for Large Mortgage Loans?

by | Tuesday 24th Oct 2023 | Mortgage News

When it comes to securing a substantial mortgage loan, choosing the right lender can make a world of difference. In places like London, properties sell for much higher than the rest of the country, which means that large mortgage loans are almost an essential in a lot of cases. Virgin Money stands out as an excellent choice for borrowers seeking large mortgage loans, offering competitive terms and flexibility. With loan options ranging from £1 million up to an impressive £5 million, Virgin Money could just be the go-to lender for securing large loan financing. At Oportfolio Mortgages, we are experts at large mortgages and with our help, you can secure the most competitive loan for your wants and needs.

Large Loan Mortgages Loan-to-Value (LTV) Flexibility

In an email to brokers today, Virgin highlighted what sets the apart from other mortgage lenders when it comes to large mortgage loans. This is is evident with their flexible Loan-to-Value (LTV) options. Whether you are looking for a £1 million mortgage or aiming higher, Virgin Money has you covered. Here’s a glimpse of their current offerings:

  1. £1 million at 90% LTV: With only a 10% deposit or equity, you can secure a substantial mortgage loan through Virgin Money.
  2. £.5 million at 80% LTV: For those looking for even larger loans, Virgin Money extends its support with an 80% LTV option, requiring a 20% deposit or equity.
  3. £5 million at 75% LTV: When your mortgage requirements reach £5 million, Virgin Money is ready to assist with a 75% LTV, requiring a 25% deposit or equity.

Consideration of Non-Standard Income

One of the standout features of Virgin Money’s policy when it comes to large mortgages is their willingness to consider non-standard income sources. This means they are open to borrowers who have income from investments, pensions, or trusts. This flexibility enables a broader range of professionals to access their large mortgage loans.

Different Property Types Welcomed

Virgin Money’s commitment to diversity extends to the types of properties they consider. Whether you’re interested in a home with acreage, annexes, or other unique features, Virgin Money’s lending options accommodate various property types. This ensures that your dream home, whether it’s a rural estate or an urban city dwelling, is within reach.

Part & Part Mortgages

For borrowers who decide that they want a combination of repayment methods, Virgin Money offers part & part mortgages. These loans are available at up to 80% LTV and can reach as high as £2.5 million. With this option, borrowers can structure their mortgage as part repayment and part interest-only, with a maximum of 75% interest-only and the remaining portion as capital and interest. This flexibility allows borrowers to tailor their mortgage to their specific financial circumstances and preferences. In most cases, making monthly repayments more manageable.

Various Repayment Vehicles Considered

Virgin Money goes above and beyond in its consideration of repayment vehicles too. From downsizing plans to other strategies, they take a wide range of options into account. This approach provides borrowers with the freedom to choose a repayment vehicle that aligns with their financial goals, up to 75% LTV.

Direct Access to Underwriters for Qualified Borrowers

Virgin Money is dedicated to providing a seamless borrowing experience. When you secure a large mortgage loan through Virgin Money with the assistance of a qualified mortgage advisor, you gain the advantage of direct access to underwriters for loans exceeding £750,000. This personalised touch ensures that your application is handled efficiently and with the utmost care. It also means that your broker will have more control over your application, and can keep more up to date with developments.

Oportfolio Mortgages: Your Partner in Securing Large Mortgage Loans

In our opinion, Virgin Money’s large mortgage loans are a great choice for people wanting substantial property financing. As a trusted and experienced mortgage brokerage based in South West London, Oportfolio Mortgages are experts in large mortgage loans and we can offer our clients the expertise and guidance they need to make your home ownership dreams a reality. If you or anyone you know is looking for a large mortgage loan, then please feel free to get in touch with our brokers today. We are here to help.

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If you have any questions about UK mortgage news or or anything you’ve read then please get in touch. We’d love to hear from you.

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