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Improvements to Virgin Money’s lending criteria


Virgin Money are a lender who works hard for their intermediary partners. That’s why they’re pleased to announce that they’ve made some improvements to their lending criteria:

  1. Affordability
  • They have increased the maximum loan to income for some of your clients, meaning they can now offer higher loan amounts.
  • Loan to income multiples for customers who earn more than £100,000 per annum and those with properties over £500,000 have been increased to up to x5.

In addition, your employed clients no longer need to provide a P60 if they are not in receipt of variable income (e.g. bonuses, overtime). Only the last two monthly payslips will be required to evidence income.


  1. Property criteria

They have made improvements to our property criteria, helping more of your clients find their perfect home.

  • Restrictions have been removed for properties over or adjacent to commercial premises, as long as the commercial premises are not categorised as any of the below:
    • food and drink establishments
    • drinking establishments
    • hot food and takeaway
    • general industrial use
    • storage or distribution
  • They will now accept flats above 10 storeys outside of London (max 80% LTV).
  • They now allow a maximum of 7 storeys for ex-local authority flats.


  1. New build cash incentives above 85% LTV

They have also improved their new build cash incentive policy.

For loans above 85% LTV they will now accept cash incentives of up to 1% of the property value (max £5,000).  For full details of acceptable new build incentives please take a look at their lending policy.

For full details of the current lending policy, visit the website.

For any queries please talk to your dedicated Business Development Manager or contact your dedicated Regional Service Team.