Virgin Money Personal Loan

Virgin Money's personal loan offering was characterised by its simplicity and transparency. With a minimum APR of 5.1% and a maximum of 29.9%, the company catered to a wide range of credit profiles. Borrowers could apply for loans between £1,000 and £25,000 with terms from 12 to 60 months, making it a flexible choice for various financial needs. One significant advantage was the absence of early repayment charges, which allowed borrowers the freedom to pay off their loans early without incurring additional fees.

However, as of April 2026, Virgin Money has ceased new loan applications, transferring its operations to Nationwide. This transition means that those interested in securing a personal loan must now meet the eligibility criteria set by Nationwide, which includes holding an account with them for at least 14 days. Therefore, while the Virgin Money personal loan was an appealing option for many, it is vital for potential borrowers to explore alternatives from Nationwide or other lenders in the market. Customers may find themselves facing different terms and rates, so careful comparison is recommended.