Brilliant Solutions

The office will be closed from 5pm today for staff training, open as normal tomorrow. 

Our office will be closed from 5pm Thursday, 20th October to 9am Friday, 21st October.
If you have any cases or enquiries that this may affect, please contact our team today. We apologise for any inconvenience.

We are currently experiencing some technical issues that are affecting our telephone lines and internet connection.

We hope to resolve this asap. Apologies for the inconvenience.

 

In honour of Her Majesty Queen Elizabeth II our offices will be closed on Monday 19th September while our staff pay their respects.

The office will re-open at 9am on Tuesday 20th September.

Virgin Money Update

Virgin Money has announced an important product update for advisers.  Virgin Money products and support with the lender, including same day payment on completion,  is all available accessible through our direct to lender mortgage clubContact us for more information. 

ANNOUNCEMENTS

NEW EXCLUSIVE DEALS WITH £1,000 CASHBACK

We’ve got good news for you and your customers. On Wednesday 3 February, we’re launching a range of new deals exclusively for our intermediary partners.

Exclusives with £1,000 cashback (limited availability)
  • NEW 75% LTV 5 Year Fixed Rate with £995 fee at 1.79%
  • NEW 85% LTV 2 Year Fixed Rate with £995 fee at 2.79%
  • 90% LTV FTB 2 Year Fixed Rate with £995 fee at 3.29%, cashback increased to £1,000

These Exclusives are for your purchase customers and come with a handy £1,000 cashback. We expect these deals to be popular with customers but can guarantee that they will be available to you for the next two weeks — until close of business on Wednesday 17 February. We hope this helps to give you confidence of securing these deals for your clients.

We’re also making the following changes:

Core
  • NEW 90% LTV FTB 2 Year Fixed Rate with £995 fee at 3.29%, with £500 cashback
  • NEW 90% LTV FTB 2 Year Fixed Rate fee saver option at 3.39%, with £500 cashback
  • 75% LTV 5 Year Fixed Rate with £995 fee will be reduced by 0.15%
  • Selected 85% LTV fixed rates will be reduced by up to 0.10%
  • 90% LTV Shared Ownership fixed rates will be reduced by up to 0.40%
Product Transfer
  • 90% LTV Shared Ownership fixed rates will be reduced by up to 0.20%

Our 90% LTV FTB range is not available for flat, maisonette or new build purchases.

You can find our current rates in our Mortgage Update. If you’ve got any questions, you can get in touch with your Business Development Manager or dedicated Regional Service Team.

WE’RE CHANGING OUR BUY-TO-LET RENTAL TESTS

We wanted to let you know that we’re making some changes to our buy-to-let rental stress tests on Thursday 4 February.

What’s changing?

The interest rate stress on 5+ year fixed products will change from 4.50% to 4.50% or product rate +1%, whichever is higher.

The interest rate stress on straight balance swap applications will change from 5.00% to 5.00% or product rate +1%, whichever is higher, across all products.

DIPs submitted after 8pm on Wednesday 3 February will be assessed using our new policy.

Here’s a summary of our BTL affordability policy

Purchase applications and remortgage applications with additional borrowing

  • Rental income required is 145%.
  • The interest rate stress on 5+ year fixed products is 4.50% or product rate +1%, whichever is higher.
  • The interest rate stress on all other products is 5.50% or product rate +2%, whichever is higher.

Remortgage straight balance swap applications

  • Rental income required is 125%.
  • The interest rate stress across all products is 5.00% or product rate +1%, whichever is higher
We want to help

You can find full details of our current lending policy on our website. If you have any questions, just get in touch with your dedicated Business Development Manager, who’ll do everything they can to help.

The team at Virgin Money

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