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The Latest Breaking News from Virgin Money

Nationwide members deserve a vote on Virgin deal – but won’t get one

With the £2.9bn acquisition having big sway over its future, owners should have a say, but democractic governance is blocked

The Guardian - UK

Nationwide agrees £2.9bn deal to take over Virgin Money

Richard Branson has already indicated he will back takeover that will require the agreement of the group’s shareholders

The Guardian - UK

Nationwide faces mounting calls to give members say on Virgin Money takeover

Experts question if ‘bigger is better’ and whether members should be consulted on the £2.9bn deal

The Guardian - UK

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Virgin Money bosses in line for £6m if Nationwide takeover goes ahead

Chief executive David Duffy would be biggest winner on £3.5m, with large paydays for about 12 other staff if deal goes through

The Guardian - UK

Nationwide's .7B Virgin Money Bid Challenges UK Big Banks

Nationwide's .7 billion bid for Virgin Money reshapes UK banking landscape, challenging big banks.

Top News

So much for the challenge from ‘challenger’ banks

The uncomfortable truth is that size remains an enormous advantage in retail banking

The Guardian - UK

Nationwide buying Virgin Money is an awful deal

City Comment: Claims that this deal will boost mutuality are hollow

Evening Standard

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Nationwide swoops on Virgin Money in controversial £2.9 billion deal

Deal lands £414m windfall to Richard Branson’s Virgin Group

Evening Standard

Nationwide to buy Virgin Money in £2.9bn deal

Lenders reach preliminary agreement on key terms in deal to create new competitor with £366bn in assets

The Guardian - UK

Virgin Money pushes through second round of mortgage rate hikes in days

Rates are slowly rising again after falling sharply over the winter

Evening Standard

Virgin Money faces investor backlash over CEO David Duffy’s £2.6m pay deal

Investment adviser raises ‘accountability’ concerns regarding reward 37 times higher than average employee’s

The Guardian - UK

Mortgage market finally returning to pre-pandemic levels, Virgin Money says

According to Bank of England data, monthly mortgage approvals have remained between 10% and 20% below 2019 levels ever since the mini-Budget

Evening Standard

Treasury to end oversight of £425m scheme to help banks after RBS bailout

Body monitoring use of money given to challenger banks to promote competition to be wound down despite objectives not met

The Guardian - UK

Mortgage lenders cut rates as gilt yields tumble

“2024 will be the year of the cuts,” one economist said

Evening Standard

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The Guardian - UK

Isas: UK savers to get freedom to chase better deals as rules change

Shake-up will mean people can pay into more than one Isa of the same type, but experts say £20,000 limit should also rise

The Guardian - UK

Cash Isas back in fashion as interest rates rise to 5%-plus

More savers look set to turn to products that allow them to accumulate cash tax-free

The Guardian - UK

I’ve been waiting months for Virgin Money to look at my £18,500 claim

Getting the banks to pay a section 75 refund is often a slow and long-winded process

The Independent UK

7 ski insurance options to cover you on the slopes

From annual insurance to one-trip coverage, these policies offer protection when on the snow

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The Independent UK

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 Guardian - 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

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

Evening Standard

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

The Independent UK

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.

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