Virgin Money reports strong demand for savings
Virgin Money has said its mortgages and lending dipped in recent months but reported strong demand for savings, as the bank prepares to be taken over by Nationwide by the end of the year.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. Here
00:06are your headlines for this morning. Virgin Money has said its mortgages and lending
00:12dipped in recent months, but it reported strong demand for savings as the bank prepares to
00:18be taken over by the Nationwide by the end of the year. Total lending to the customers
00:23was 0.9% lower, with mortgages dropping by 1.1% in the past three months, compared to
00:31the first half of its financial year. Total customer deposits jumped by 2.4%, driven by
00:39people opening ISA accounts at the start of the new tax year. There's an update this morning
00:44from Virgin Money, which has said its mortgages and lending dipped in recent months, as it
00:49prepares to be taken over by the Nationwide by the end of the year. My name is Greg Wright
00:55and I'm the Deputy Business Editor of the Yorkshire Post.