All customers completing a Virgin mortgage by New Year’s Day will be entered into the draw, which is open to new and existing customers.
Repayments of up to £1,000 per month will be covered by Virgin.
Peter Rogerson, Virgin Money’s savings and mortgages director said: “Christmas is a time of giving, and to celebrate the festive season we’re giving one lucky mortgage customer the fabulous opportunity to have their mortgage payments paid for a whole year.
“The Christmas Cracker is our latest innovation and follows on from the success of our Stamp Duty Buster and Rapid Remortgage products."
