This week, I’m featuring our new Greener Mortgages, our latest product changes, and some top tips from our mortgage processing team to help brokers submit business.
Say hello to Greener Mortgages
Virgin Money has launched a Greener Mortgages range: a new set of products rewarding customers for purchasing energy-efficient new build homes. We have 2 and 5 year products, currently priced 0.10% lower than their core equivalents, at LTVs up to 85%, including Help to Buy Equity Loan options for customers with deposits from 5%. Our Greener Mortgages are available for purchases of new builds with a certified or predicted energy efficiency rating of ‘A’ or ‘B’.
As an extra, green bonus, we’ve partnered with Carbon Neutral Britain to contribute to sustainable, environmental projects around the world. That means 5 tonnes of carbon will be offset—and new trees will be planted—with every completion of a Greener Mortgage.
To find out more, check out our Greener Mortgages page. To review our current rates, see our Mortgage Update.
Clydesdale Bank product changes
We’ve made reductions to selected 85% LTV 2 and 5 year deals. Our Professional range now starts from 2.65% and is available for loans up to £1m. For more information on our current rates, please see our website.
Five tips for submitting cases
Here’s a few top tips from Virgin Money’s mortgage processing team to help you do business with us:
- If your client’s looking for a product transfer, remember to get their existing account number. It’s on their reminder letter and mortgage statements from us, in the top-left corner.
- To submit a Product Transfer Shared Ownership application, you need to call your Regional Support Team. We’re not able to accept these on VMO.
- Make the most of our automated case-update emails, and use our online case-tracking service.
- Try our live-chat service. We can answer all your most common product and policy questions. It’s easy to use, and it saves you having to call. Live chat with us.
- Our quickest Offers go to fully packaged applications. Check you’re sending all the documents we need as soon as you submit an application. We have a handy guide to keep you on track.
Our service levels at a glance
- Virgin Money’s average application to offer is currently 14 Days. Correct as of 28 May 2021.
- Clydesdale Bank’s average application to offer is currently 17 Days. Correct as of 1 June 2021.
Going green: 2021 is the year of the green mortgage
Did you know the average home in the UK is rated a ‘D’ for energy efficiency?* Fortunately, these days, homeowners can do lots to improve how green their homes are. Read our new article, Going Green, to find out more.
*Source: Office for National Statistics
British Mortgage Awards
It’s the last week to get your votes in for the British Mortgage Awards. If you haven’t already, vote Nicola Goldie for Lender: Head of Sales or National Accounts! Vote in the British Mortgage Awards 2021.
