How we're supporting the new Mortgage Charter

26th July 2023

We’re committed to helping customers through the cost of living crisis. We understand this is a very difficult time for many.

We’re proud to support the Government’s Mortgage Charter that aims to help residential mortgage customers worried about higher mortgage interest rates or are facing financial difficulty.

This includes helping customers who are up to date with their payments to:

• Switch to interest-only payments for six months.
• Extend their mortgage term to reduce their monthly payments with the option to revert to their original term within six months without an affordability check.

Customers can use our calculator to see what their new mortgage payment could be. To submit a request, customers need to apply on our Virgin Money website using our form and we’ll take care of the rest.

Just so you know, at Clydesdale Bank you can apply for a product transfer up to 180 days before a deal ends. If rates reduce before the new deal starts you can switch to a new rate.*

If customers are worried about their mortgage repayments, please ask them to get in touch with us. Speaking to us won’t impact their credit score.

Help is at hand

In addition to the Mortgage Charter, we have a range of support. This includes our Cost of Living Hub with tips on managing money and links to other organisations who can provide impartial advice and guidance.

Any questions?

See our Frequently Asked Questions for more information on how we’re supporting the Mortgage Charter, or have a chat with your Business Development Manager.