Will One Account ever offer mortgages again?

frostyspice

I used to have a Virgin One Account offset-type mortgage which suited me fine. For various reasons I changed mortgage provider but kept the One Account as a current account. I'd like to go back to that type of mortgage but the One account website has been saying 'we are going through a period of staff training and are unable to offer any new mortgages at this time' for months, if not years.

Does anyone have any idea if they'll ever offer their mortgage (which amounted to a stonking great overdraft) again? Obviously it's not a matter of staff retraining, it's a policy decision in the light of the current financial climate - but any industry insiders or rumours out there?

getmore4less

Why would you want a one account they were one of the worst lenders for rates.

Zoology_Dragon

No idea but I've been wondering the same, we have mortgage number 1 (a rented property with consent to let) with them.

kingstreet

I suspect that post-MMR such an account is now considered an anachronism.

It doesn't fit in the nicely pigeon-holed world of repayment mortgage until just before retirement and permits the borrower a higher degree of responsibility, than the regulator and lenders think they can be trusted to manage sensibly.