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The Latest Breaking News from Virgin Money

Summer holiday spending by Virgin Money customers ‘jumped by a third this year’

Despite the mixed weather conditions this summer, spending on UK-based staycations increased by 10% compared with the spring quarter.

The Independent UK

Relief for homeowners and buyers as lenders cut mortgage rates

After the Bank of England brought an end to a devastating series of interest rate hikes, lenders including NatWest, TSB, Nationwide and Virgin Money have cut mortgage rates

The Independent UK

UK recession risk mounts as business falters; mortgage lenders cut rates – as it happened

Business activity shrinks at fastest pace since financial crisis excluding Covid months; some fixed five-year mortgage rates dip below 5%

The Guardian - UK

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What does keeping UK interest rates on hold mean for homeowners and savers?

Decision not to increase rates from 5.25% will be relief for many but some mortgage holders are already paying more

The Guardian - UK

Virgin Money down: Why was my Virgin Money app not working?

Those banking with Virgin Money were left without access to their funds, some with bills to pay

Evening Standard

Monzo is UK’s best bank, Virgin Money and RBS the worst, says CMA survey

The Competition and Markets Authority’s latest satisfaction survey asked customers how likely they would be to recommend their provider to a friend, relative or other business

Evening Standard

Digital banks beat high street lenders in customer satisfaction survey

Monzo was voted the best provider for individuals and businesses in a survey of thousands of people in Britain.

The Independent UK

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NatWest and Virgin Money cut rates as mortgage ‘price war’ spreads

Big lenders become latest to reduce borrowing costs, joining four other UK home loan providers this week

The Guardian - UK

List of 39 Virgin Money branches set to close

The banking business will close almost a third of its UK branches, bringing its estate down to 91 branches.

The Independent UK

Virgin Money to shut 39 bank branches with 255 jobs facing axe

It blamed the plans on changing customer demand, which has seen fewer people go into banks in favour of online services.

Evening Standard

Major bank to shut down six Scottish branches

A MAJOR bank is shutting six of its Scottish branches as customers “change they way” they use its services.

The National (Scotland)

Average 5-year fixed-rate mortgage hits 6.3 per cent deepening UK’s home loan misery

Britain’s home loan misery was growing on Friday as the average five-year fixed-rate mortgage hit 6.3 per cent.

Evening Standard

UK’s biggest mortgage lenders in 2022 ranked

Lloyds Banking Group has held its position as the UK’s biggest mortgage lender but some providers moved up or down the tables.

The Independent UK

Holiday spending by bank’s customers jumped by 40% annually this spring

Virgin Money said the total value of spending on getaways increased by 40% when comparing March to May 2023 with the same period a year earlier.

The Independent UK

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Insider UK

Virgin Money backs Ayrshire wind farm with £14 million funding

Banks Renewables has also submitted proposals for a new wind farm to South Lanarkshire Council

Daily Mirror

Banks and building societies NOT hiking mortgages after rate rise - see full list

The base rate rise is another blow to people with mortgages as the cost of their homes may increase even more as these are usually linked to the base rate

Wales Online

Lloyds, Barclays, Halifax, HSBC: All the variable mortgage rates right now as interest rates to rise for 13th time

Some banks will be increasing their rates in a few weeks

Birmingham Post

People on the move: key appointments and promotions of the week

Companies featuring in this week's round-up include Gentoo Group,

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The Independent UK

Big banks offering ‘measly’ savings rates to loyal customers, say MPs

The Treasury Committee found that a ‘loyalty penalty’ was especially prominent for elderly and vulnerable customers.

Birmingham Post

Atom Bank appoints former Virgin Money man Lee Rochford as chairman

Mr Rochford helped Virgin Money to float on the London Stock Exchange in 2014

Daily Record

Five steps to help prevent sleepless nights due to money worries before next pay day

A new study suggests finances are keeping nine in 10 people awake at night.

The National (Scotland)

Fergus Ewing replaces Mairi Gougeon to open Scotland’s Beef Event

CABINET Secretary Mairi Gougeon has pulled out of attending Scotland's Beef Event.

The Independent UK

Treasury Committee expands campaign to encourage banks to boost savings rates

The Treasury Committee said it has written to Nationwide Building Society, Santander, TSB and Virgin Money about their easy access savings accounts.

Glasgow Live

Virgin, Bank of Scotland and TSB Glasgow bank branches to shut - full list

Some branches in Scotland, including Glasgow, will close their doors this year with many moving services online. Here is the full list of branches affected.

Birmingham Post

Virgin Money profits fall amid higher provisions for customer arrears

The bank played down cost of living fears and said its lending books showed no signs of stress

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