Virgin Money & Clydesdale Bank are to relaunch an Intermediary Service Commitment later this month.

The commitment will will see customers receive an offer within 10 days of a fully packaged application being submitted.

As part of the promise to brokers, If an offer isn’t made within the committed timescales, customers will receive £100.

Terms and conditions apply to the promise which will be provided on the lenders’ intermediary websites.

Sarah Green, head of customer acquisition at Virgin Money, said: “Brokers are an integral part of our mortgage success and they regularly provide feedback which is invaluable in helping us continually improve. They tell us that getting things done quickly along with price and criteria can make all the difference to their customers.

“The relaunch of our Service Commitment is in direct response to what our brokers tell us is important and that’s why we will aim to issue an offer in 10 days of receiving a fully packaged application, or we’ll give customers £100 if they go on to complete with us.”