Virgin Money: products, terms and eligibility

Virgin Money is a UK provider of commercial mortgages and bank lending. The legal entity named on its site is Nationwide Building Society (trading as Virgin Money). It is based in Swindon. It is part of Nationwide Building Society.

Virgin Money says that before 2012 it provided asset finance under the Clydesdale Bank and Yorkshire Bank brands. It says Virgin Money and Nationwide Building Society became part of the same group in October 2024. Following Court approval on 23 February 2026, Virgin Money’s business transferred to Nationwide on 2 April 2026; Virgin Money products are now provided by Nationwide Building Society trading as Virgin Money.

In its own words on scale:

• Says its Commercial Banking team provides financing and lending typically from £1m up to £15m for mid-sized businesses.
• Says its real estate funding packages typically range from £10m to £40m in bilateral facilities.

Everything on this page comes from what Virgin Money publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Virgin Money publishes 5 products for UK businesses. The table above gives the amounts and terms as it states them.

• Fixed Rate Loan: Interest paid monthly or quarterly.
• SONIA Loan: Flexible repayment options.
• Growth Guarantee Scheme loan: Term loan.
• Business overdraft: Interest only on the amount used.

Base Rate Loan

A loan linked to the Bank of England base rate, from £30,000 up to £10m, with terms of up to 20 years. Uses listed include buying premises, purchasing stock or equipment and covering unexpected costs.

Fixed Rate Loan

A fixed rate loan for up to 5 years, from £30,000 up to £10m, with the choice of paying interest monthly or quarterly.

Growth Guarantee Scheme loan

Term loans of £30,000 up to £2 million per business group for up to six years under the British Business Bank’s Growth Guarantee Scheme, subject to status and eligibility. Borrowers with an existing government-backed facility can apply.

Asset finance (hire purchase and finance lease)

Hire purchase lets the business own the asset at the end once the option to purchase fee is paid; a finance lease rents the asset, with some proceeds from its sale received at the end of the term. Assets listed include light commercial vehicles, HGVs and trailers, bus and coach, construction, agricultural, machine tools, manufacturing lines and waste and recycling equipment.

Commercial Banking

For mid-sized businesses, typically £1m to £15m, including commercial mortgages, cash flow funding, asset based lending, trade finance and treasury products, through regional Strategic Finance teams.

Virgin Money says its finance is used for:

• Buying premises
• Purchasing stock or equipment
• Covering unexpected costs
• Temporary funding shortfalls
• Buying vehicles, plant and machinery
• Real estate investment and development

Sectors and business types it says it funds:

• Hotels
• Real estate
• Social housing
• Health and social care
• Agriculture
• Energy and environment

Virgin Money publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• Aged 18 or over.
• Based and operating in the UK, excluding the Channel Islands, Isle of Man and Northern Ireland.
• A business purpose for the borrowing.
• At least 12 months of active trading for any business lending request.
• SONIA loans are for businesses with turnover over £6.5 million.
• Consent to personal searches for each party associated with the business.

Virgin Money describes its process like this:

1. Submit an enquiry about business lending through the Virgin Money business finance pages.
2. Give consent for personal searches of each party associated with the business.
3. Provide financial accounts, cash flow statements or projections if asked, for a full credit assessment.
4. Provide a personal statement of assets and liabilities if requested.

Information it says it asks for:

• Financial accounts
• Cash flow statements and/or projections
• Personal statement of assets and liabilities (if requested)

Every application is subject to status and the lender’s own criteria at the time.

A commercial mortgage is a long-term loan secured on business premises or investment property. Lenders look at the property’s value, the deposit, and whether the business’s profits or the rent comfortably cover the repayments.

Banks often lend across several products, from overdrafts to asset finance, and some can offer facilities under government schemes. See government-backed business loans for how those work.

Our guide to commercial mortgages and bank lending explains the costs, who it suits and how to compare offers.

Points Virgin Money publishes that are worth knowing:

• When we checked on 15 October 2026, Virgin Money’s site said Virgin Money is now part of Nationwide: following Court approval on 23 February 2026, Virgin Money’s business transferred to Nationwide Building Society on 2 April 2026.
• A personal guarantee, or security from the business or a guarantor, may be needed; assets, including property, are at risk if the borrowing agreement is broken.
• Arrangement and other fees may apply.
• Virgin Money says it stopped accepting asset finance business from brokers on 1 January 2012.
• You may be asked for financial accounts, cash flow statements or projections, and a personal statement of assets and liabilities.

Security and guarantees

Virgin Money may need a personal guarantee from you or someone else, or security from the business or a guarantor. Security and guarantees remain in place until the business repays all its debt to Virgin Money. It says the business and any guarantor should get legal advice before giving a guarantee or security.

The pages we checked do not carry a clear regulatory statement, so we describe none. Ask Virgin Money how it is regulated.

You can check any firm’s permissions on the FCA’s Financial Services Register, listed in the sources below, before you sign anything.

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of commercial mortgages and bank lending with profiles here include YBS Commercial Mortgages, Bank of Scotland and Barclays. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.