Brilliant Solutions

Virgin Money Update

Virgin Money has announced an importan product update for advisers.  For full details see their latest product update here but do take care to note the date of the update. 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. 

Adverse Credit Policy Changed

Tomorrow, Thursday 9 July, we will update our lending policy for customers who have County Court Judgements (CCJs) or who have defaulted on an item of credit.

We will no longer accept cases where a CCJ or defaulted account remains on a customer’s credit file, whether satisfied or unsatisfied.

We will also no longer accept cases where there has been two or more consecutive missed payments on any item of credit in the last six months.

What this means for your customers

Any decision in principle submitted from Thursday 9 July will be subject to the new lending criteria.

These changes will not impact customers who have taken an arranged mortgage payment holiday.

Share this:

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top