The deal saw Nationwide offer a 38 per cent premium to Virgin Money's closing price on 6 March, the day before it was revealed. Here is what will change now that the takeover of V

The two brands will continue to exist on UK high streets for between four and six years, before Virgin Money is fully absorbed by Nationwide and customers are switched over

Nationwide has completed its £2.9bn takeover of Virgin Money, bringing together two of Britain’s largest banking groups.

Nationwide Building Society’s £2.9bn takeover of Virgin Money is expected to go through this week after the deal was approved by a judge. Lawyers for the lenders secured the sanctioning of the deal at a specialist companies court in London on Friday and the deal is expected to become effective on October 1.

Nationwide Building Society’s £2.9bn takeover of Virgin Money is expected to go through next week after the deal was approved by a judge.

From today (Tuesday, September 24), Nationwide is now lending up to six times someone’s salary. It has also cut its mortgage rates, with its five year fix reduced by 0.05 percentage points to 0.1 percentage points depending on your LTV (loan to value ratio).

The takeover of Virgin Money by Nationwide has been completed, the leading building society has announced. After getting court approval at the end of last week, the £2.9bn deal has now been made effective,