So you’re considering making a loan to a relative or friend. Why use Virgin Money? Shoot, there are lots of reasons.
Protect your relationship.
Mixing money and love can be tricky. That’s why we’re here. With Virgin Money managing your private mortgage you don’t need to talk business with your borrower unless you want to. Plus, we can help plan, change, or restructure your loan—keeping it, and your relationship, on track. Makes those holiday dinners so much more pleasant.
Protect your money.
Even when you’re sharing it with loved ones, money is still money, and you don’t want to lose it. A private mortgage is secured by real estate, so you’ll have a lien on the property. If your loan defaults, having a lien means you can get your money back. Good luck getting that guarantee on the stock market.
Make money.
With Virgin Money, you can charge an interest rate that is greater that you might earn in a comparable financial investment. And there’s a good chance it will still be less than your borrower would pay to a bank. So everybody wins. Hooray!
Share the love.
When you’re the lender, many things are possible because you’re in charge. You can forgive a payment here and there by making them gifts. You can agree to move payments to the end of the schedule if your borrower hits a cash crunch. You can even use the mortgage as an estate planning or wealth transfer vehicle. Pretty cool stuff, huh?
