Virgin Money to buy Church House Trust

Commenting on the move by Virgin Money to buy Church House Trust, Kevin Mountford, head of banking at moneysupermarket.com said: "Following a period of mass consolidation in the banking and building society sectors it is great to see a serious player making a move to challenge the big banks. The move by Virgin to buy Church House Trust gives them the banking licence they need to expand their offering. We have already seen Virgin Money play an aggressive role in the credit card market with their best buy products, and we can expect them to do likewise across a broader set of banking products."