Virgin Money Intermediaries

Today marks an exciting new chapter in the history of Virgin Money, as it becomes part of the Nationwide Group. Chris Rhodes, our new Chief Executive Officer, spent the morning meeting colleagues and sharing more about the opportunities he sees for Virgin Money joining forces with Nationwide Building Society✨ #VirginMoney #Nationwide #StrongerTogether

🔊 Calling all brokers, we’ve launched new products 🔊   Today, we’ve reduced selected rates for both Virgin Money and Clydesdale Bank   Richard Walker, Head of Intermediary Sales at Virgin Money, said: “Today, we’re thrilled to announce a reduction in selected Purchase, Remortgage, and Buy-to-Let rates for both Virgin Money and Clydesdale Bank. This new range of competitively priced products is designed to offer even greater value for your clients.  At Clydesdale Bank, our standout offerings include the Professional Fee Offer range, featuring exceptional rates from 65% to 80% LTV on both 2 and 5-year fixed rate terms. These deals start at a competitive rate of 3.99%. One of the prominent Virgin Money products is the 95% LTV 5-year fixed rate with no valuation or product fee at 4.99% for buyers with just a 5% deposit. This is a fantastic opportunity for those looking to secure their dream home with minimal upfront costs.”   You can find our current rates here 👉https://lnkd.in/exbTr4Zu   If you’ve got any questions, please get in touch with your Business Development Manager 👉 https://lnkd.in/e_cbYft9 #MortgageBroker #ReducedRates

This product is a game-changer - a five year fix with just a two year ERC With so much uncertainty over mortgage rates, how many of your customers would love to fix for longer, but aren’t ready to commit for more than two years? This is exactly why we launched our Fix and Switch mortgage. Fix and Switch is a five-year fixed rate mortgage with a difference – its ERC only lasts until the end of year two. After that, there’s no ERC. This means your customers get five-year protection against rates going up, but if they go down, they can switch to another deal after two years (which is where you come back in). We have a number of residential purchase fixed rates available up to 95% LTV and remortgage fixed rates up to 85% LTV. Don't forget, we expanded our range to include BTL fixed rates up to 75% LTV, which are also available for portfolio landlords.   To find out more speak with your BDM 👉 https://lnkd.in/e_cbYft9 #MortgageBroker #FixandSwitch

Matt Martin, Head of National Accounts at Virgin Money, outlines why the future is bright for buy-to-let   It’s no secret that the past few years have been challenging for the buy-to-let sector, with lending down significantly in 2023, as landlords felt the pressure of high rates.   Challenges remain, but green shoots are appearing, from lower inflation to predicted base rate reductions in the coming months. Lenders have responded by tweaking criteria to make it easier for landlords to access the finance they need.   Underpinning the private rented sector remain strong fundamentals, from high tenant demand to increasing rents.   There are still plenty of opportunities for good landlords who are in it for the long term and brokers are best placed to help them navigate the mortgage market and any changes to regulations.   To read the full article click here 👉 https://lnkd.in/eTBFArGA   #MortgageBroker #PrivateRentedSector #Opportunities

Don't miss out brokers - this is the final week of our current prize draw. Enter by 5pm on 30 September for your chance to win 🦁 🦏 🐦

Following rate reductions across a range of Virgin Money products yesterday including Fix & Switch - the 5 year fixed with a 2 year ERC - here's a reminder from Cat McNeil, National Account Manager at Virgin Money Intermediaries, about how Fix & Switch works and how it could benefit your customers To find out more, speak to your BDM 👉 https://lnkd.in/e_cbYft9 #MortgageBroker #FixAndSwitch

📢Calling all brokers, we've launched new products📢 Today, we've reduced selected Purchase, Remortgage and Buy-to-Let rates Richard Walker Head of Intermediary Sales at Virgin Money said: "Virgin Money has introduced multiple rate reductions across Purchase, Remortgage, and Buy-to-Let products, offering significant savings for clients. Additionally, our Fix and Switch range has also seen reductions. This product offers a five-year fixed rate, providing certainty against rate increases, while allowing customers to switch to a new deal after two years without incurring Early Repayment Charges (ERC). This flexibility enables borrowers to take advantage of potentially lower rates in the future. With no product fee options, the Fix and Switch mortgage is highly cost-effective. This combination of a stable fixed rate and the flexibility to switch early makes the Fix and Switch product a standout choice for those looking to manage their finances effectively." You can find our current rates here 👉 https:// https://lnkd.in/ecWT6j4i pdf/product_guide.pdf If you've got any questions, please get in touch with your Business Development Manager 👉 https:// https://lnkd.in/e_cbYft9 #MortgageBroker #FixAndSwitch #Reductions

We're back again with another example of where our underwriting team were able to say ‘yes’ to a good quality case of over £1m, where there was an issue with a parking ticket fine and the application falling outside of our usual policy. As the customer was working abroad at the time the fine was unpaid leading to a CCJ. On the applicant’s return home, the CCJ was quickly satisfied. The CCJ was small, at under £300, was registered over 2 years ago, and settled within 3 months. We were happy to consider this example on the basis that we were satisfied this was an isolated incident, evidenced by the applicants’ otherwise exemplary credit report, and further supported by the reassurance of working for an established global law firm. If you have a request that falls outside our standard lending policies, let us know, and we’ll explore possibilities with both Virgin Money and Clydesdale Bank. Our customised, practical approach, combined with the support of our empowered underwriting team, can create a winning solution for you and your clients. Speak to your BDM today 👉 https://lnkd.in/e_cbYft9 #MortgageBroker #SayYesToMore

Your invitation to a free webinar from Virgin Money and Hive   🔊 MORE DATES ADDED 🔊   Following high demand for our last Retrofit Boost webinar, we’re thrilled to let you know we’re running two more dates for brokers to choose from.   Tune in to find about our new Retrofit Boost mortgages, and the services Hive can offer as part of our collaboration. You can register for a place at either webinar here:   Wednesday 18 September 10:30-11:30am > https://lnkd.in/ezwsPmes Thursday 26 September 10:30-11:30am > https://lnkd.in/ewrucU_x   Hosted by Hive's Indi Ranu Burton and Huw Jones, the webinars will talk you through who Centrica and Hive are, the customer journey and what energy efficient improvements are available, including the potential benefits, the amount of work required and average costs – from a home health check, installing Hive Home through to adding insulation and solar panels.   We look forward to seeing you there! #MortgageBroker #Hive #RetrofitBoost

We’re back with another example of our underwriting team saying ‘yes’ to a good quality case - this time the applicant was in the process of increasing their shareholding to 100%.   This was a residential purchase at around 50% LTV and the applicant was separating from their partner. Both the applicant and their partner were 50% shareholders in the business; however their partner was not actively contributing to the business profitability.   This appeared reasonable based on the nature of the business. Due to the overall profile of the customer and their business, by exception we agreed to using 100% of the profits. We asked the broker to supply confirmation from the accountant confirming the second shareholder had been removed, and that this wouldn’t impact the running of the business. The client was delighted their broker could deliver the outcome they'd hoped for.    If you have a request that falls outside our standard lending policies, let us know, and we’ll explore possibilities with both Virgin Money and Clydesdale Bank. Our customised, practical approach, combined with the support of our empowered underwriting team, can create a winning solution for you and your clients.   Speak to your BDM today 👉 https://lnkd.in/e_cbYft9 #MortgageBroker #SayYesToMore