Good Honest Service (Virgin One)

Member Name: JonRose

Product:	Virgin One
Date:	11/08/00 (1099 review reads)
Rating:

Advantages: cheap, convenient, flexible, saves you lots of money

Disadvantages: must be disciplined and can be confusing

Virgin one does offer an excellent account that pools all of your resources into one pot and allows you to save loads of money off interst on your mortgage.

The way it works is you basically have one overdraft facility which is the value of your mortgage. Then any savings and money paid off your mortgate, salary etc all get paid into this accound and off sets against your mortgage. This means that the amount of interest that you accrue is reduced - making it easier to pay off your mortgage sooner.

Applyng for this mortgage is not quick and it took us about three months from application to completion - but we were transferring my account and this removed some of the pressure for us. The application is easy though and they do a lot of the work for you over the phone and then send a form mostly completed for you to fill in and return with some bank statements etc.

They were always polite and friendly on the phone and this is the impressive thing - they always have answered the phone in person almost immediately - after a couple of rings at most. For someone who rates customer service hisgest of all I have found them a pleasure to deal with and considering this is not my bank, savings account and current and my mortgage and also my credit card company. I am very happy with them.

They have a round the clock phone bank and an excellent internet service. There are no charges for cash points anywhere in britain - any cash point. They give you a visa card and switch card and cheque book.

The only downsides are that there is no immediate restriction stopping you spending your money - so you have to be responsible. Plus the way the Woolich are organising their new account seems a bit better with three accounts acting as one helps you to work out how much you can spend. It can be a bit confusing when you see a bit negative figure - how much you have available to spend. But this account is still so useful and it has already
saved me loads of money so this is one very happy customer.

Summary: