We hope you’ve had a great start to the New Year. It feels like 2016 will be another busy year in the mortgage market and, as ever, at Virgin Money we will be here to help by offering you great products, a dedicated BDM and service to match.

Another way we’ll be making your life easier is through our programme of improvements. There’s lots planned to make it even easier to do business with us.
Fewer questions. Faster decision. 

If you’ve used our affordability calculator recently you may have noticed some changes. These were a result of direct feedback from intermediaries and aim to improve your experience when using the tool online.

You should find the tool easier and quicker to use with less household expenditure questions and more prominent help text.  With fewer questions to fill out and the same level of accuracy we’re sure you’ll welcome the improvement.

If you’re using an older browser, such as Internet Explorer 8 or below, you might encounter some problems when using our detailed expenditure form. So please make sure you have a more up to date version of Internet Explorer installed or use Chrome or Firefox to take full advantage of the improvements.

Take a look at the affordability calculator here. 

Policy improvement – temporary reduction in income  

Great news! From today, we’ve extended the allowable period of absence from 3 to 12 months when reviewing a temporary reduction in income, such as parental leave.

Your client and their employer must provide confirmation of the return to work date and salary. Where leave of absence is beyond 4 months, your client will also need to provide evidence of how they intend to cover the shortfall in income. Evidence to cover the shortfall includes savings accounts, bank statements and share certificates and can be in the name of either borrower.

Check out the full update on this by viewing our Lending Policy PDF. 

If you would like any more information, talk to your dedicated Business Development Manager or visit the website.