Virgin Money & Clydesdale Bank to allow product switching on pipeline cases

Published on

Virgin Money has announced that it can now support product switching on pipeline cases at Virgin Money and Clydesdale Bank.

It means brokers can switch their customer’s previously selected product onto a new product from the lenders’ current new business ranges.

Product switching is available on cases that are at pre-offer stage or are within 60 days from the date on the offer if at offer stage.

Brokers can help their customer switch products once on pipeline cases, otherwise the lender will ask for the submission of a new application.

Richard Walker, head of intermediary sales at Virgin Money, said: “As an intermediary-led lender we value the feedback we receive from brokers and are constantly looking at ways in which we can improve the service they receive from us. This latest change, where we are giving customers greater flexibility to switch products, is in addition to also giving brokers the functionality to help customers switch from a Freedom to Fix Tracker on to a new fixed rate and earn a procuration fee.

“Our BDMs also now have improved access to a dedicated underwriting team, who can agree an application upfront and provide more certainty for more complex cases. We also have a Large Loan helpline where brokers can call a Clydesdale Bank underwriter for loans above £750k to discuss the application directly.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Teachers for Intermediaries raises new-build LTV limit to 95%

Teachers for Intermediaries has increased its maximum LTV on new-build houses and flats to...

Cambridge BS opens applications for deposit-building Rent to Home scheme

The Cambridge Building Society has opened applications for its Rent to Home property in...

Life changes could create new wave of accidental landlords

Changes in personal circumstances rather than investment plans could push more homeowners into the...

Remortgage searches jump 40% as borrowers return after summer

Remortgage activity drove a sharp rise in mortgage searches during September, with Twenty7tec recording...

Step One Finance adopts OMS origination platform

Step One Finance has introduced a bespoke loan origination system developed with One Mortgage...

Latest publication

Other news

Teachers for Intermediaries raises new-build LTV limit to 95%

Teachers for Intermediaries has increased its maximum LTV on new-build houses and flats to...

Cambridge BS opens applications for deposit-building Rent to Home scheme

The Cambridge Building Society has opened applications for its Rent to Home property in...

Life changes could create new wave of accidental landlords

Changes in personal circumstances rather than investment plans could push more homeowners into the...