Virgin Money offering ‘rapid remortgage’ service
Virgin Money for Intermediaries has launched a ‘rapid remortgage’ service aimed at borrowers looking to switch to a cheaper mortgage over the coming weeks.
The lender sent a note to Trinity Financial explaining that they are aiming to produce fast mortgage offers, ideally within ten days.
In order to provide an efficent service, applications will need to be submitted correctly with all of the required documentation, such as any proof of identification, payslips or P60's.
Aaron Strutt, product manager at Trinity Financial, says: “Virgin Money has some extremely competitive mortgage rates at the moment, including a host of low two, three and five year fixes.
“However, there is a lot of competition in the mortgage market and a host of lenders are offering great remortgage deals. They are also paying for the property valuation and legal fees, making it cheaper to switch.”
In order to check the value of the property, Virgin will provide an automated valuation and they are unlikely to physically go around to the flat or house to make sure it matches the amount stated on the application form.
An estimated 285,000 mortgage customers will experience a change to their monthly repayments between August – December when their current deals expire. According to Barclays this equates to over £33bn worth of mortgages.
If you would like help to remortgage, call Trinity on 020 7016 0790.
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