The Virgin One Account Mortgage Review

Overall Rating

freedom to pay of mortgage as quick as you like

Awful fussy online banking. Difficult to see how much 'real' money available and what savings you have at a glance. Tries too hard to be clever. I just want to see a bank statement!

The The Virgin One Account provides wonderful freedom to manage your mortgage in a way that suits your own personal circumstances. Every penny of the money that you have in your account at any time works for you and is a great incentive to save. However, the online banking spoils this. It is difficult to access your account and even once accessed you are presented with a mindfield of charts and graphs that require far too much effort to interpret how much money you have. After a year I am now moving mortgage provider as I just can't tolerate this awful system anymore. As well as a good value mortgage I also want simple clear records of the total amount of savings and 'real' money available to me. The Virgin One Account just tries too hard and fails to achieve this.

Members' Comments ontom62's Review

• smita on 25th Jun 2006

  I have a one account and thought it would help me make more of my money but I think that unless you are earning a substantial wage and have adequate savings in the account it is difficult to get any savings benefit from it. Like other people I like to pay my bills by monthly direct debits - to make sure that I'm not missing any or that I am not paying bills because I am broke! So trusting myself to leave enough money in the account to keep the interest payments low AND making sure that the balance is being reduced AND ensuring there is enough money to pay the bills at the right time in order to make savings on the account are a tall order especially if you aren't particularly good with finances. I also find that the on screen balances at the cashpoint and on the online banking are not kept as up to date as I would like with some transactions appearing and some not, even if they were performed on the same day at roughly the same time. Personally I have not saved on the One Account but then again I admit to not being SENSIBLE with money and not very financially intelligent - I do feel that somebody who earns a good wage and has a reasonable amount of disposable income (not me!!) would get it to work well for them but if you fit into my bracket I would look into it for yourself before getting one. Also do not take the word of anyone who says its brilliant as their circumstances and finances my be different to yours.