We are Virgin Money mortgage brokers and we can help you with Virgin Money mortgage applications or indeed applications to mortgage lenders across the whole of the UK market.
Why are Virgin Money promoting mortgage brokers?
Virgin Money have realised that the new rules around mortgage regulation make it beneficial for most borrowers to source their mortgage through a mortgage broker, rather than direct to the Lender.
Lenders do not have sufficient expertise and processes in place in-house to provide a decent service for the direct applicant. This can be seen by the misinformation, ridiculously long meeting times, and delays evident across the direct to lender market.
Virgin Money Mortgages are the first Lender to admit this problem publicly and focus on what they do best, which is designing and providing mortgage product and supporting mortgage brokers.
Why are Virgin Money beeping their name from radio ads?
The Virgin Money tagline says ‘we are so convinced mortgage brokers will recommend us, we’ve removed our name from our ad. We’re letting our award-winning mortgages, and your broker to do the talking for us.’
In quite a clever twist, virgin Money Mortgages are challenging themselves to come up with products and service standards that will encourage mortgage brokers to recommend them to borrowers.
Virgin money are not providing any additional financial encouragement for brokers to deal with them and the success of this initiative will solely rest on the support they can provide and how brokers feel about them and their products.
Why are Virgin Money a good mortgage Lender to use?
Virgin Money Mortgages are a good mortgage lender to use for a number of reasons.
- Service standards – Virgin Money Mortgages display good service standards and are a generally pleasant lender for mortgage brokers to work with
- Affordability – Virgin Money can be generous with affordability calculations and this can be beneficial for some clients
- Self-employment – Virgin Money are particularly flexible with self-employed borrowers and this can often highlight them as the best lender to use
- Competitiveness – Virgin Money regularly price their products extremely competitively, challenging the larger lenders across the market
Why would a mortgage broker recommend you to Virgin Money?
The first thing to point out in connection with this advertising initiative is that a mortgage broker cannot recommend a lender for spurious reasons. Regulation, and practical business practice mean that there must be a solid reason that the lending source is beneficial to the borrower.
Remember, Virgin Money Mortgages are not paying any incentives, or giving away anything to brokers to induce them to recommend Virgin as a lending source.
Therefore the whole initiative rests on the needs of the customer falling into line with the Virgin Money offer.
What about existing Virgin Money mortgage holders?
This means that you can get access to top quality products, without proving your income, without underwriting, while still being provided with top-quality advice and service from your mortgage broker.