Virgin Money launches existing customer mortgage rate switching service

by Aaron Strutt

Jul 07 2016

Virgin Money for Intermediaries has launched an existing customer mortgage rate switching platform. It enables brokers to secure customers with new rates even if they did not originally submit the application. 

One of the positive things about the new system is the way it provides existing customers with access to new business rates. Other lenders are not always as generous.

Aaron Strutt, product director at Trinity Financial, says: “If your mortgage is coming to an end it is important to find out what your lender is offering you to stay. You can then research the market and see if you can get a better deal.

“Virgin Money writes to its existing customers four months before their rate expires to let them know they can secure a new fixed or tracker rate. Providing you do not want to extend the mortgage term, borrow more money or remove a partner from the mortgage, the five-step system should be relatively fast and straightforward. If you want to make further account changes, it may be more complex.”

Providing brokers have your name, mortgage account number and permission to access your account, then let you know if it is the most suitable rate. 

For help to remortgage or switch rates using Virgin Money's system, call Trinity on 020 7016 0790.