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Virgin Money mortgage balances top £20bn

Adam Williams
Written By:
Posted:
13/05/2014
Updated:
13/05/2014

Virgin Money has increased its mortgage book to more than

Since launch, Virgin Money has completed 72,000 mortgages, including 6,500 first-time buyer loans and a further 16,500 second-time buyers. It has also completed 2,500 Help to Buy applications in that time.

The bank launched in January 2012 following the acquisition of Northern Rock with a mortgage book of £14bn. Following strong lending in the last two years that figure has now topped £20bn for the first time.

Balances increased by 17% in 2013 alone, a figure Virgin said was ahead of its competitors in the market.

The North East-based lender’s existing loans are most concentrated in London and the South East of England.

Peter Rogerson, savings and mortgages director said: “We are delighted to have passed the £20bn milestone as we maintain our safe and responsible growth momentum.

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“Looking forward we will continue to grow the business and work with our intermediary partners to help more customers achieve their home ownership ambitions, by offering a broad range of attractive products backed by a strong customer service proposition.”