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Virgin One plans renaming brand as The One Account

Virgin One is set to be renamed The One Account when it scraps the Virgin brand at the end of the year.

Virgin One says it is expecting the new name to be agreed in the next few weeks.

Following research, it says this name is emerging as the most popular choice because it refers to how a current account mortgage works.

It is planning to start advertising the brand mid-January and is looking at ways to develop and expand the product.

Virgin One marketing manager Scott Mowbray says: “We are finalising it at the moment but the most likely brand is The One Account, following considered research. The brand name does what is says, putting everything into one account.”

Broker club Mortgageforce managing director Robert Clifford says: “The Virgin One account has benefited significantly from the power of a global brand. It may be difficult to convince consumers of the good product and pricing proposition it offers now it has lost a respected, consumer champion brand. The danger with the likes of The One Account is that is very easy for others to emulate.”

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