Virgin Money balances break £20bn milestone

Virgin Money, which acquired Northern Rock in 2012, has become of the UK's fastest growing mortgage lenders

Richard Branson's Virgin Money has returned to profit
Mortgage balances at Virgin Money have exceeded the £20bn mark

Mortgage balances at Virgin Money have exceeded the £20bn mark.

This represents a 43% rise since the company acquired Northern Rock in January 2012 and makes the firm one of the fastest growing mortgage lenders.

According to Bank of England Funding for Lending data, it was also the third largest net mortgage lender in the UK in 2013, providing mortgages to customers across the length and breadth of the country.

Savings and mortgages director Peter Rogerson said: “We are delighted to have surpassed the £20bn milestone as we maintain our safe and responsible growth momentum. Looking forward, we will continue to grow the business and work with our intermediary partners to help more customers achieve their home ownership ambitions.”

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