Virgin Money Accounts

...deal I was intrigued by Virgin One’s advertising and decided to contact them. They claim that eight out of ten people would save thousand of pounds with this account. Obviously with a claim like this I had to find out more. I initially contacted them by phone and found them to be very helpful and informative. After providing some basic information they gave me a personal illustration, giving details of what my mortgage account would be with them, ...
...things went smoothly and the Virgin One staff contacted us regularly with updates. Virgin One is different to most other mortgage lenders because you put all your finances in one account, i.e. your current account, savings and mortgage are all operated from the same account. Interest on this account is calculated on a daily basis. This means that any money you have in the account that you haven’t spent is working towards paying off your outstanding ...

Donald 02.01.2002 · Read full review
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Review of Virgin Money Accounts

...it. I have had a Virgin One mortgage for several years now. I must say that it is the best way of banking I have ever seen and it is definitely a revolution. That said, the One Account may not suit everyone, so read on... Have you ever been overdrawn? Or bounced a cheque? Or had a Direct Debit missed? Or been charged a penalty because you forgot to pay off the minimum payment on your Credit Card? Or been charged by your bank for overdrawing your ...
...convince us otherwise. The Virgin One Account changed all that. Imagine if you could get a personal loan (anytime you want it) and a credit card with an interest rate of 5.2% APR and a savings account which effectively pays 6% or more. No hassle, no fees, no extortionate interest rates. Everything together in one place. Sorted. The Virgin One Account is all honest and up front - everything is presented in plain English. You get a VISA Credit Card, ...

Mike_kiwi 30.08.2002 · Read full review
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Review of Virgin Money Accounts

...that I should get a Virgin One Account. I had started temping a few months earlier which meant that, potentially, I didn't have the same money coming in every month and, potentialy, I could have times when I wasn't earning so trying to make regular mortgage payments could be difficult. Also, as an accountant I could see the financial benefits in the flexibility of the account so I logged on to their website to find out more. The One Account is a ...
...over you know you can pay out for it. Each month your statement tells you how far ahead or behind you are and what your new budgeted monthly amount should be. I am a Virgin convert and my faith has been restored - not all banks are the same! ...

indychick_uk 26.03.2001 · Read full review
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Review of Virgin Money Accounts

...money. I saw the Virgin One account advertised a few times, but couldn’t quite suss it out. Money and me don’t work very well and it would have to be explained at a very simple level for me to understand it. So I went onto the webb site www.virginone.com to have a look and try and get some info. The site itself is very informative, however to get a good idea of whether this is the account for you, you need to have some figures available, ...
...forms I decided to phone Virgin One instead, and I am so glad I did. Each person I have spoken to has been so helpful, extremely pleasant and brilliantly patient with my never ending questions. So I signed up for an account. The whole process took about one month, the only thing I needed to pay for up front was the evaluation fee – this cost me £139, but I think it can vary depending on the area you live in. Other fees were solicitor fees, ...

amandah 22.05.2002 · Read full review
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Review of Virgin Money Accounts

...Branson springs to mind. And Virgin One (now under Royal Bank of Scotland control) delivers in the same manner. With Virgin One gone are the days when one's mortgage value goes up instead of down, interest calculatedted monthly/annually and penalties imposed for daring to pay off huge chunk of your own debt (this is the essence of a mortgage afterall). Instead you can truly take control of your finances and not be penalised. On the contrary if sensibly ...
...more you pay off the mortgage the lower the interest rate becomes). The rewards are greatest if all finances are handled through the account - have salaries, under-performing investments and any spare cash paid into the account and, because of the daily interest calculation, the lower the loan amount, the lower the interest cost. Simple really. And the Service ? Second to none. I transferred from a rival institution and the Vigin One staff took ...

richard1 23.11.2001 · Read full review
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Review of Virgin Money Accounts

...begin. I got to the virgin website and found it easy to navigate and informative, but being a bit suspicious I thought I'd ring them. Spoke to a guy called Paul who answered all the questions he could. I could get a mini stocks and shares ISA which seemed to be good for saving regularly for the long term. Now I don't have a lot of money to save so this ISA was ideal as you can open it with £1 and can deposit whenever you like up to your yearly ...
...it's easy to get your money if you need it with no penalties (other than the obvious loss in interest or income), but it's also sent only as a cheque. This is great for somebody like myself as if I could drawer it from acash machine for example, it'd be 'gone in 60 seconds' so to speak. So to sum up, I am a complete gumby when it comes to investing, but I opened this account with £10 on 23rd July this year. Checked it today (online of course) and ...

fatcarrot 02.08.2001 · Read full review
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Review of Virgin Money Accounts

I transferred to the Virgin Maxi ISA when I could no longer invest in the PEP I had held for 2 years. The rate of growth has been excellent over an 18 month period. Due to some financial reversals, I had to make a withdrawal from the ISA account. The telephone staff are polite, helpful and the paperwork and subsequent cheque arrived promptly. They are about to launch an online service for checking investments and requesting withdrawals, making ...

jennysue 23.08.2000 · Read full review
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Review of Virgin Money Accounts

...mainly the good product that Virgin has on offer, namely the Virgin One account. This enables you to offset your current account funds to reduce the amount of interest you are paying on your mortgage. I now pay lower interest payments and I'll have paid off my mortgage a lot sooner than I would have with the traditional repayment scheme. Virgin are also very good with customer service. The banking is all telephone or on-line or you can use RBS facilities ...

acordell 28.07.2000 · Read full review
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Review of Virgin Money Accounts

This has to be the future of all morgages. I have just applied for my 'virgin one' account on line after reading the information on line and i have to say that if they do everything they say they do you just can't fault it. The interest rate is slightly higher than most building socioties but the concept of the account makes up for it because of the amount you can save just by putting a little bit extra each month, also there are not hidden clauses ...
...see no reason for wanting to do thid, I strongly reccomend you visit their website. www.virginone.co.uk., or call them, I have called them twice in the last week to get more information. I did not have to wait in a long que (as i have come to expect from most call centres) and thestaff are friendly and effecient. ...

vickyg 08.12.2000 · Read full review
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Review of Virgin Money Accounts

I originally chose the Virgin Direct PEP a few years ago when I was finally pursuaded to look at other forms of investment than just building societies. I phoned a few companies and investment advisers and received reams of glossy brochures, all of which were impossible to read and understand. Then the Virgin booklet arrived and it was written in plain English. I opened the PEP account and have continued with the ISA. The account is easy to use and ...
...reasonable. Every communication from Virgin is clear and unambiguous, without being patronising. The telephone and internet service is first class and the people on the end of the phone line are real people who treat you like a real person. Everything you send them is freepost. ...

babsbaby 29.06.2001 · Read full review
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Review of Virgin Money Accounts

We took out a One Account mortgage a couple of years ago as soon as our old mortgage redemption penalty period was up. We were able to transfer a car loan (8.5%) and other credit card debts onto our mortgage account and still paid the same amount per month as we were for our previous mortgage. The rate you pay depends on the loan to value rate (ie the difference between the amount you want to borrow and what your house is worth - eg. you want to ...
...a 50% LTV rate). You can borrow up to 95% of your property's value. We were very lucky that our loan to value rate was less than 50%, so we paid the minimum rate which was about 4.85% when we took out the One Account. It's since gone up, but not significantly. Certainly not enough for us to consider changing our mortgage. The main reason we chose the One Account was because we wanted to convert our loft and the One Account would enable us to increase ...

Myopinionscount 08.04.2004 · Read full review
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Review of Virgin Money Accounts

...told me to look at Virgin One. This I did and it has being the best finacial move I have ever done. The change in my account was very well handled by Virgin. At the time I had two loans for my wife's car and my own. I was paying far to much intrest on these loans (18% & 16%). When I started my Virgin One account I paid of these loans and this saved me a lot of money. With the intrest charged on a daily basis this also saves money. With the money ...
...via the phone. I have on a few occasions used the phone to contact Virgin One and have always got through first time every time. None of those annoying please wait messages and listening to music for 30mins. I would highly recommend Virgin One to anyone looking for mortgage account. ...

DaveThomo 10.05.2002 · Read full review
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Review of Virgin Money Accounts

The Virgin One account combines all your banking needs, (ie, Mortgage, cuurrent, savings and credit card accounts ). Your property is valued and if accepted you can borrow up to the valuation. Any savings reduce the interest and therefore length of loan. You must pay off all borrowings by the time you retire. This account can be very good but beware you keep an eye out that you dont keep borrowing up to limit, or you could get yourself into deep ...
...account. I informed you that Virgin one account had been taken over by Royal Bank of Scotland. If you want to pay money into the bank, you have to use Royal Bank of Scotland. Okay understandable. If you have cheques and cash to pay in do it on seperate paying in forms (ie cash on one cheques on another). The reason being if you have a cheque on the same form, the cash does not reach your account until the cheque clears. Again I found this out ...

brat 05.09.2002 (13.02.2003) · Read full review
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Review of Virgin Money Accounts

I have recently opened a Virgin mini stocks and shares tracker ISA, which I pay into monthly by direct debit. The whole process of finding out about the product and actually opening the account was totally straightforward and accomplished quickly. I chose the account because the management charges are very low (1% - because this is essentially a mechanical investment strategy, tracking the Footsie All Share) and because the company are reputable ...
...need to. I should point out though that this is a medium term investment - you should really be looking to tie up your money for five years or so to smooth out market ups and downs. The leaflets and information I received from Virgin were simple and jargon-free. ...

Suse 27.02.2001 · Read full review
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Review of Virgin Money Accounts

...more. It seam's that Virgin Direct have all the answer's, except for the term virgin. As they are so well used now that other banks will start to take more notice of them. The way the account work's is cool, You have say an overdraft of £100,000 and each month you wage's go into it, so that brings it down to say, £98,000, e.g. £2000 quid wage's a month. Then you pay off your normal mortgage and the money that is left cut's down your interest. So ...

connoros 18.02.2002 · Read full review
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Review of Virgin Money Accounts