Tugwell said: “Confirmation that we are to be acquired by Virgin Money is a tremendous boost for the company.
“With new ownership comes new opportunities and we look forward to those but little will change immediately. Our commitment to and focus on the intermediary market remains the same.
Tugwell said that the vast majority of Northern Rock’s lending would continue to be through intermediaries.
He added: “That focus will remain exactly the same under Virgin Money, which is equally committed to the intermediary market.
“We have been very heartened by the level of positive support we have received from within the industry, both from our peers and our intermediary partners, since the announcement was made.
“Becoming part of Virgin Money has the potential to provide us with the extra momentum we need to improve our offering, both in the breadth of our product range and the service that backs it up.
“When that happens I am sure that intermediaries up and down the country will welcome the extra impetus we will bring to the market.”
Andrew Montlake, communications director at Coreco, added: “I do believe that this is the best option for Northern Rock and I am sure all intermediaries will welcome Virgin Money into the fold.
“The commitment to jobs was great news for the exceptional staff employed by Northern Rock and this is also important to building future relationships.
“It was great news for the North East in general and we look forward to moving forward into a new era together.”
