Virgin Money has announced the reinstatement of its mortgage service commitment from Monday 20 July.

The commitment guarantees a mortgage offer within 10 days of receiving a completed mortgage application, otherwise £100 will be paid to the customer.

The commitment also applies to Clydesdale Bank registered intermediaries.

The service commitment was paused in order to focus resource on providing services to customers during the current pandemic.

Sarah Green, head of intermediary mortgages at Virgin Money, said: “The outbreak of the Covid pandemic caused issues which the mortgage market, as well as the wider financial market, had never previously experienced, leading to a temporary pause in the service commitment we offer to intermediaries.

“I am delighted to announce that as from Monday 20th July we are reinstating the service commitment, which is an important signal to intermediaries and mortgage customers that we’re back to full service with our reliable, prompt and high-quality proposition.”