View more on these topics

CYBG to bring all brands under Virgin Money

CYBG has announced that it all of its brands – Clydesdale, Yorkshire Bank, and B – will soon come under one moniker – Virgin Money.

As part of this consolidation exercise, the lender will also launch a new online and mobile mortgage hub, which will provide access to an artificial intelligence mortgage assistant.

It will also launch two new offerings into the broker market in the form of ‘Virgin Money Everyday’ and ‘Virgin Money Expert’, the former being aimed at the mainstream lending market and latter at complex cases.

The bank adds that it aims to maintain its 4 per cent mortgage market share.

CYBG chief executive David Duffy says: “Banking is changing at an unprecedented rate. Consumers are using new technology in every part of their lives. With amazing customer experiences available in other industries, they are rightly demanding so much more from their banks.

“Our plan for the new Virgin Money means that for the first time there will be a major disruptor that can serve the whole of the UK, combining technology with personal service and an absolute focus on being a customer champion. We are looking to reinvent the role a bank plays in people’s lives.

“The decision to retire brand names with such long and proud histories is not an easy one. Marrying the values and expertise of these heritage brands with the Virgin Money brand will allow us to realise efficiencies and grow our business throughout the UK.”

Recommended

Houses, house, property, monopoly

Virgin Money amends resi and BTL criteria

Virgin Money has amended its buy-to-let and residential mortgage criteria. Within the firm’s BTL portfolio landlord range the maximum LTV has been increased from 70 per cent to 75 per cent, and previous portfolio growth restrictions have been removed. In addition, the lender has lowered the aggregate rental cover requirement from 145 per cent to […]

Virgin-Money-Logo-700x450.jpg

Virgin Money adds intermediary exclusives and new high LTV rates

Virgin Money has reduced rates on several of its high loan-to-value fixed rate mortgage products and added new intermediary exclusives to its range. The new product range is available from today, 25 January and is aimed first-time buyers who are coming to the end of the their current mortgage arrangement. The new high LTV products […]

Newsletter

News and expert analysis straight to your inbox

Sign up