Brilliant Solutions

The internet is down in our Head Office.  Staff continue to answer the phone and respond to messages but understandably response times and service standards are affected.  Please contact your Relationship Manager directly if you have any urgent issues.  Thank you.

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

We’re increasing rates

We wanted to let you know that we’re making some changes to the following products at 8pm today.

Exclusive Remortgage
65% LTV 2 Year Fixed Rate with £995 fee will be increased by 0.11% to 4.54%.
75% LTV 2 Year Fixed Rate with £995 fee will be increased by 0.11% to 4.59%.
65% LTV 5 Year Fixed Rate with £995 fee will be increased by 0.04% to 3.99%.
75% LTV 5 Year Fixed Rate with £995 fee will be increased by 0.08% to 4.18%.
65% LTV 2 Year Fixed Rate fee-saver will be increased by 0.20% to 4.79%.
75% LTV 2 Year Fixed Rate fee-saver will be increased by 0.20% to 4.89%.
75% LTV 3 Year Fixed Rate fee-saver will be increased by 0.25% to 4.59%.
65% LTV 5 Year Fixed Rate fee-saver will be increased by 0.08% to 4.18%.
75% LTV 5 Year Fixed Rate fee-saver will be increased by 0.09% to 4.29%.
If you’re applying for one of these products on behalf of your customer, please send us the application as soon as possible.

New Purchase Exclusives and BTL reductions

We wanted to let you know that we’ve launched new Purchase Exclusives to support home movers with even more choice and better value deals.

Exclusive Purchase deals with free valuation
NEW 65% LTV 2 Year Fixed Rate with £1,495 fee at 4.44%.
NEW 75% LTV 2 Year Fixed Rate with £1,495 fee at 4.49%.
NEW 85% LTV 2 Year Fixed Rate with £1,495 fee at 4.59%.
NEW 90% LTV 2 Year Fixed Rate with £1,495 fee at 4.90%.
Exclusive Purchase deals with £1,000 cashback and free valuation
NEW 75% LTV 2 Year Fixed Rate with £995 fee at 4.78%.
NEW 85% LTV 2 Year Fixed Rate with £995 fee at 4.90%.
NEW 90% LTV 2 Year Fixed Rate with £995 fee at 5.25%.
NEW 85% LTV 3 Year Fixed Rate with £995 fee at 4.74%.
Our BTL range has also been refreshed with new lower rates, plus increased product availability to support portfolio landlord customers.

Exclusive BTL Remortgage deals for portfolio landlords
NEW 50% LTV 2 Year Fixed Rate with £3,995 fee at 4.73%.
NEW 60% LTV 2 Year Fixed Rate with £3,995 fee at 4.83%.
NEW 50% LTV 5 Year Fixed Rate with £3,995 fee at 4.64%.
NEW 60% LTV 5 Year Fixed Rate with £3,995 fee at 4.69%.
Core BTL
Selected BTL fixed rates have been reduced by up to 0.89%.
Product Transfer
Selected BTL fixed rates have been reduced by up to 1.50%.
We’ve also made these changes:

Remortgage Exclusives
65-75% LTV fixed rates have increased by up to 0.25%, now available from 3.99%.

Non-standard income accepted for affordability

At Virgin Money and Clydesdale Bank, we can now accept non-standard income in some cases. We can look at income from investments and trusts, even when it’s not currently being drawn.

Just another great way we’re helping customers get the loan amount they need.

A real-life example
Here’s how we recently said yes to a customer, using their non-standard income:

Loan requested: £450,000 (38% LTV)

Background: This was a like-for-like residential remortgage. The customer had no traditional earned or self-employed income. What they did have was a big pension pot which they weren’t drawing from, plus a managed investment portfolio.

Their pension pot was £1.5 million, and as the customer was over 55, they were able to access the funds. In addition, they had a UK-based sterling managed investment portfolio worth £2.7 million.

The outcome: All things considered – LTV, like-for-like re-mortgage, strong asset and affordability position – we agreed to use this income in our affordability assessment and were able to provide an agreement in principle.

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