ALL OUR MORTGAGES - Virgin Money · MORTGAGES ISSUE 95 VALID FROM 09.06.16. 2 On Thursday 9 June we made changes to selected core products and we also withdrew our 2 Year Fixed Rate

For professional intermediary use only.This description of Virgin Money’s mortgages is directed at professional intermediaries who are authorised or exempt by the Financial Conduct Authority.

The products described in this guide are available through professional intermediaries only. This is not a financial promotion and should not be displayed as such. People who do not have professional experience of mortgage products should not rely on this guide. This product guide does not include APRCs which consumers need when selecting a mortgage product. Details of our APRCs can be found when applying for a product from your mortgage sourcing system.

2 YEAR FIXED RATE BTL DEAL AT 60% LTV AVAILABLE AT 1.89%

ALL OUR MORTGAGESISSUE 95 VALID FROM 09.06.16

2

On Thursday 9 June we made changes to selected core products and we also withdrew our 2 Year Fixed Rate Marathon Runner Exclusive product.

Summary of changes

Core range:> 5 Year Fixed Rate available up to 65% LTV with a £995 fee has been reduced to 2.19%> 2 Year Fixed Rate Help to Buy Equity Loan deal available up to 75% LTV with a £995 fee

has been reduced to 1.89% (£500 cashback)> 5 Year Fixed Rate Help to Buy Equity Loan Fee Saver Option available up to 75% LTV

has been reduced to 2.84% (£500 cashback)> Selected 2 year fixed rates have been amended:

– 2 Year Fixed Rate available up to 80% LTV with a £995 fee has moved to 1.95% from 1.85% (£300 cashback for purchase customers) – 2 Year Fixed Rate available up to 85% LTV with a £995 fee has moved to 2.09% from 1.99% (£300 cashback for purchase customers) – 2 Year Fixed Rate available up to 90% LTV with a £995 fee has moved to 2.60% from 2.49% (£300 cashback for purchase customers and £500 cashback for

first time buyers) – 2 Year Fixed Rate Fee Saver Option available up to 90% LTV has moved to 2.99%

from 2.89% (£300 cashback for purchase customers) – 2 Year Fixed Rate Fee Saver Option available up to 95% has moved to 4.09% from 3.99% (£300 cashback for purchase customers)

> 2 Year Fixed Rate Marathon Runner Exclusive available up to 90% LTV has been withdrawn

The £99 application fee continues to be waived from all mortgage products for a limited period.

End dates remain unchanged at 1 September of the relevant year across the full product range.

THERE ARE PARTNERSHIPS. AND THERE ARE VIRGIN MONEY PARTNERSHIPS.At Virgin Money, our mortgage business relies on our intermediary partners. So we’re keen to work that bit harder for you. That means offering you our very best products, not keeping the best deals to help us find new customers ourselves.

It means paying you fairly for the work you do for us. It means making our lending policy easy to understand and giving you direct access to policy experts. And it means not just meeting our SLAs, but beating them where we can.

In fact, we will do everything in our power to help you build your business.

Because when you thrive, we do too.

That’s a Virgin Money partnership.

Read on to find out more or talk to your dedicated Business Development Manager.

READ ON TO FIND OUT MORE

WHAT HAS CHANGED

3

INTERMEDIARY EXCLUSIVE BUY TO LET RATESEveryday Fixed Rate Stamp Duty Buster Purchase Range**

ProductMax LTV

RateProduct Fee Option

Reverting Rate UntilEarly Repayment Charge

Cashback Notes

2 Year Fixed

75% 2.94% £1,995

Following the Fixed Rate period, the loan will revert to Virgin Money’s Buy To Let Variable Rate (currently 4.99%) for the life of the loan

1 Sept 2018

2.5% of the outstanding loan balance until 1 Sept 2018

£1,500Min loan £94,000 and max loan £1m (subject to LTV limits of the lending policy)

5 Year Fixed

75% 3.65% £1,9951 Sept 2021

5% of the outstanding loan balance until1 Sept 2021

£1,500Min loan £94,000 and max loan £1m (subject to LTV limits of the lending policy)

**Cashback can also be used as a contribution to Land and Buildings Transaction Tax in Scotland.

Everyday Fixed Rate Remortgage Range

ProductMax LTV



Cashback Notes

2 Year Fixed

50% 1.87% £1,995


1 Sept 2018


£750Max loan £1m (subject to LTV limits of lending policy)

5 Year Fixed

50% 2.79% £1,9951 Sept 2021

5% of the outstanding loan balance until 1 Sept 2021

£750Max loan £1m (subject to LTV limits of lending policy)

Everyday Tracker Remortgage Range

ProductMax LTV



Cashback Notes

2 Year Tracker Rate

50%1.72% (BoE +1.22%)

£1,995


1 Sept 2018

1% of the outstanding loan balance until1 Sept 2018

£750Max loan £1m (subject to LTV limitsof the lending policy)

THERE’S PAY.AND THERE’S A FAIR DAY’S PAY.We understand that writing mortgage business these days is taking more time. So we’ve made sure that our procuration fees reflect that, rewarding you properly for the work you need to put in.

And don’t forget, as a Virgin Money partner, you automatically have access to a range of deals and discounts from the Virgin Group.

4

EVERYDAY RESIDENTIAL RATES

Product Max LTV£995 Product Fee Options Fee Saver Options

Reverting Rate UntilEarly Repayment ChargeProduct Rate Cashback Product Rate Cashback

2 Year Fixed Rate

65% 1.74% £0 2.09% £0

Following the Fixed Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 2018


70% 1.75% £0 2.24% £0

75% 1.77% £0 2.38% £0

80% 1.95% £300 2.52% £0

85% 2.09% £300 2.65% £0

90% 2.60% £300 (£500 for first time buyers) 2.99% £300

95% n/a n/a 4.09% £300

3 Year Fixed Rate

65% 1.94% £0 2.39% £0

1 Sept 2019


70% 2.03% £0 2.59% £0

75% 2.04% £0 2.68% £0

80% 2.19% £300 2.95% £0

85% 2.24% £300 2.99% £0


95% n/a n/a 4.60% £300

5 Year Fixed Rate

65% 2.19% £0 2.44% £0

1 Sept 2021


70% 2.39% £0 2.59% £0

75% 2.48% £0 2.68% £0

80% 2.68% £300 3.29% £0

85% 2.84% £300 3.42% £0


95% n/a n/a 4.60% £300

Everyday Fixed Rate Purchase Range

Simple, straightforward residential mortgages designed to fit a range of needs.

Key product features:> Fixed and tracker deals available up to 95% LTV, with a choice of fee options> The £99 application fee has been waived from all residential deals for a limited period> Maximum loan size of £1m> Selected deals come with cashback> Free basic valuation and free standard legal work for all residential remortgage customers> Flexible features – your clients can make overpayments and apply for payment holidays (subject to criteria)*

*Flexible features are subject to Virgin Money’s agreement and the terms and conditions of your client’s mortgage.**Cashback can also be used as a contribution to Land and Buildings Transaction Tax in Scotland.

ProductMax LTV


Reverting Rate Until Early Repayment Charge Cashback Notes

2 Year Fixed

95% 4.39% £0Following the Fixed Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 2018


£1,500Min loan £118,000 and max loan £1m (subject to LTV limits of lending policy)

5 Year Fixed

95% 4.79% £01 Sept 2021


£1,500

Everyday Fixed Rate Stamp Duty Specials for First Time Buyers**

5

Product Max LTV RateProduct Fee Option


Cashback Notes

5 Year Fixed

70% 2.62% £0


1 Sept 2021


£0Max Loan £1m (subject to LTV limits of lending policy)

This product is only available to London Marathon runners who have registered their details on oneinamillion.london website. A unique application code ONEINAMILLION [followed by a generated 3 digit number] is available for those wishing to redeem this offer.

If your clients are interested in our exclusive marathon mortgage product please check they have a unique code and then apply for them in the usual way via your preferred application route.

Marathon Exclusive Everyday Fixed Rate Purchase Range


THERE’S LIP SERVICE.AND THERE’S DEDICATED SERVICE.We have dedicated service teams on hand, who know your area and know your cases. And we have one of the largest teams of BDMs in the business, checking you are happy, listening to your feedback and ready to support you with whatever you need.

6


Product Max LTV Rate with £995 Product Fee Rate with Fee Saver Option Reverting Rate Until Early Repayment Charge

2 Year Fixed Rate

65% 1.74% 2.09%


1 Sept 2018


70% 1.75% 2.24%

75% 1.77% 2.38%

80% 1.95% 2.52%

85% 2.09% 2.65%

90% 2.60% 2.99%

3 Year Fixed Rate

65% 1.94% 2.39%

1 Sept 2019


70% 2.03% 2.59%

75% 2.04% 2.68%

80% 2.19% 2.95%

85% 2.24% 2.99%

90% 2.78% 3.34%

5 Year Fixed Rate

65% 2.19% 2.44%

1 Sept 2021


70% 2.39% 2.59%

75% 2.48% 2.68%

80% 2.68% 3.29%

85% 2.84% 3.42%

90% 3.29% 3.54%

Everyday Fixed Rate Remortgage Range

Product Max LTV RateProduct Fee Option


Cashback Notes

5 Year Fixed

70% 2.62% £0


1 Sept 2021


£0Max Loan £1m (subject to LTV limits of lending policy)

This product is only available to London Marathon runners who have registered their details on oneinamillion.london website. A unique application code ONEINAMILLION [followed by a generated 3 digit number] is available for those wishing to redeem this offer.

If your clients are interested in our exclusive marathon mortgage product please check they have a unique code and then apply for them in the usual way via your preferred application route.

Marathon Exclusive Everyday Fixed Rate Remortgage Range

7

Product Max LTV Rate with £995 Product Fee Rate with Fee Saver Option Reverting Rate UntilEarly Repayment Charge

2 Year Tracker Rate

70% 1.49% (BoE + 0.99%) 2.19% (BoE + 1.69%)

Following the Tracker Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 2018


75% 1.59% (BoE + 1.09%) 2.38% (BoE + 1.88%)

80% 1.69% (BoE + 1.19%) 2.49% (BoE + 1.99%)

3 Year Tracker Rate

70% 1.79% (BoE + 1.29%) 2.59% (BoE + 2.09%)

1 Sept 2019


75% 1.89% (BoE + 1.39%) 2.68% (BoE + 2.18%)

80% 2.09% (BoE + 1.59%) 2.79% (BoE + 2.29%)

Everyday Tracker Purchase Range

Product Max LTV Rate with £995 Product Fee Rate with Fee Saver Option Reverting Rate UntilEarly Repayment Charge

2 Year Tracker Rate

65% 1.44% (BoE + 0.94%) 2.09% (BoE + 1.59%)

Following the Tracker Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 2018


70% 1.49% (BoE + 0.99%) 2.19% (BoE + 1.69%)

75% 1.59% (BoE + 1.09%) 2.38% (BoE + 1.88%)

80% 1.69% (BoE + 1.19%) 2.49% (BoE + 1.99%)

3 Year Tracker Rate

65% 1.74% (BoE + 1.24%) 2.49% (BoE + 1.99%)

1 Sept 2019


70% 1.79% (BoE + 1.29%) 2.59% (BoE + 2.09%)

75% 1.89% (BoE + 1.39%) 2.68% (BoE + 2.18%)

80% 2.09% (BoE + 1.59%) 2.79% (BoE + 2.29%)

Everyday Tracker Remortgage Range


THERE ARE ‘SOME OF OUR MORTGAGES’.AND THERE ARE ‘ALL OF OUR MORTGAGES’.We offer intermediaries our very best products. We don’t keep the best deals to help us find new customers ourselves.

And we know that some mortgage products may be more suited to the intermediary channel, so we’ll offer these exclusively through you.

8

HELP TO BUY: EQUITY LOAN RATESEquity loan residential mortgages available for customers in England, London, Scotland and Wales looking to purchase a new build home. The Government loans up to 40% of the property value, with a mortgage making up the remaining funds.

> Fixed rates available at 55%, 75% and 80% LTV, with a choice of fee options> The £99 application fee has been waived from all residential deals for a limited period> Selected deals come with cashback> Minimum and maximum loan sizes vary, see notes section for each product> Flexible features – your clients can make overpayments and apply for payment holidays (subject to criteria)*> The Offer of Loan period for all Help to Buy Equity Loans is six months (26 weeks). Subject to criteria, we will provide an

Offer extension for a further six months if required> When purchasing a property through one of the Help to Buy Equity Loan schemes, incentives of any kind (cash and

non-cash) cannot be more than 5% of the value of the property. For full details of the incentives we accept please visit the intermediary website

* Flexible features are subject to Virgin Money’s agreement and the terms and conditions of your client’s mortgage.** Cashback can also be used as a contribution to Land and Buildings Transaction Tax in Scotland.

Everyday Fixed Rate Purchase Range

ProductMax LTV

Rate with £995 Product Fee

Rate with Fee Saver Option

CashbackReverting Rate

UntilEarly Repayment Charge

Notes

2 Year Fixed

55% 1.78% 2.15% £500


1 Sept 2018


Max loan £330,000 (subject to LTV limits oflending policy)

75%

1.79% n/a £0Max loan £450,000 (subject to LTV limits of lending policy)

1.89% 2.38%

£500

80% 2.04% 2.60%Max loan £184,000 (subject to LTV limits of lending policy). Only available in Scotland

5 Year Fixed

55% 2.40% 2.75%

£5001 Sept 2021


Max loan £330,000 (subject to LTV limits oflending policy)

75% 2.60% 2.84%Max loan £450,000 (subject to LTV limits of lending policy)

80% 2.79% 3.39%Max loan £184,000 (subject to LTV limits of lending policy). Only available in Scotland

Everyday Fixed Rate Stamp Duty Buster Purchase Range**

ProductMax LTV


Cashback Reverting Rate UntilEarly Repayment Charge

Notes

2 Year Fixed

75% 2.84% £995

£2,500


1 Sept 2018


Min loan £93,750 and max loan £450,000 (subject to LTV limits of the lending policy)

80% 2.95% £995Min loan £93,750 and max loan £184,000 (subject to LTV limits of the lending policy). Only available in Scotland

5 Year Fixed

75% 3.09% £995

£2,5001 Sept 2021


Min loan £93,750 and max loan £450,000 (subject to LTV limits of the lending policy)

80% 3.65% £995Min loan £93,750 and max loan £184,000 (subject to LTV limits of the lending policy). Only available in Scotland

FOR MORE INFORMATION ON THE HELP TO BUY SCHEME AND CRITERIA, PLEASE VISIT THE INTERMEDIARY WEBSITE

The maximum property value in England and London is £600,000, Scotland £230,000 and Wales £300,000.

9

Product Max LTVRate with £995 Product Fee

Reverting Rate Until Early Repayment Charge

2 Year Tracker Rate

70% 1.54% (BoE + 1.04%) Following the Tracker Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 20181% of the outstanding loan balance until 1 Sept 2018

75% 1.69% (BoE + 1.19%)

80% 2.09% (BoE + 1.59%)

Everyday Freedom to Fix Purchase Range



2 Year Tracker Rate

65% 1.49% (BoE + 0.99%)Following the Tracker Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan


70% 1.54% (BoE + 1.04%)

75% 1.69% (BoE + 1.19%)

80% 2.09% (BoE + 1.59%)

Everyday Freedom to Fix Remortgage Range



2 Year Tracker Rate

70% 3.65% (BoE + 3.15%) Following the Tracker Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 20181% of the original loan amount until 1 Sept 2018

75% 3.89% (BoE + 3.39%)

80% 4.69% (BoE + 4.19%)

Flexible Purchase Range



2 Year Tracker Rate

65% 2.99% (BoE + 2.49%)Following the Tracker Rate period, the loan will revert to Virgin Money’s Standard Variable Rate (currently 4.79%) for the life of the loan

1 Sept 20181% of the original loan amount until 1 Sept 2018

70% 3.65% (BoE + 3.15%)

75% 3.89% (BoE + 3.39%)

80% 4.69% (BoE + 4.19%)

Flexible Remortgage Range

FLEXIBLE RESIDENTIAL RATES

EVERYDAY FREEDOM TO FIX RESIDENTIAL RATESFor those who want to benefit from a tracker while interest rates are low, but might want to change to a fixed rate in the future without incurring an Early Repayment Charge.

Key product features:> Tracker deals available up to 80% LTV, with a £995 fee> The £99 application fee has been waived from all residential deals for a limited period> Maximum loan size of £1m> Free basic valuation and free standard legal work for all residential remortgage customers> Flexible features – your clients can make overpayments and apply for payment holidays (subject to criteria)*

Residential mortgages ideal for clients looking to secure more flexibility. As their lives change, so too can their mortgage, allowing them to choose whatever works for them at the time.

Key product features:> Tracker deals available up to 80% LTV, with a £995 fee> The £99 application fee has been waived from all residential deals for a limited period> Maximum loan size of £1m> Free basic valuation and free standard legal work for all residential remortgage customers> Fully flexible – your clients can make overpayments and apply for payment holidays, underpayments and

borrow back (subject to criteria)*

*Flexible features are subject to Virgin Money’s agreement and the terms and conditions of your client’s mortgage.

10

ProductMax LTV

£1995 Product Fee Options £995 Product Fee Options Fee Saver Options Reverting Rate

UntilEarly Repayment ChargeProduct Rate Cashback Product Rate Cashback Product Rate Cashback

2 Year Fixed Rate

60% 1.89% £750 2.19% £750 2.99%

£500


1 Sept 2018


70% 2.34% £750 2.79% £500 3.39%

75% 2.38% £500 2.97% £750 4.39%

3 Year Fixed Rate

60% 2.29% £750 2.69% £500 3.19%

1 Sept 2019


70% 2.79% £500 2.89% £500 3.95%

75% 2.89% £750 2.99% £750 4.44%

5 Year Fixed Rate

60% 2.85% £750 2.99% £500 3.29%

1 Sept 2021


70% 3.19% £750 3.68% £500 3.99%

75% 3.28% £750 3.79% £500 4.49%

Everyday Fixed Rate – Flat-fee options

ProductMax LTV

2.5% Product Fee Options 2.0% Product Fee OptionsReverting Rate Until Early Repayment Charge

Product Rate Cashback Product Rate Cashback

2 Year Fixed Rate

60% 2.34%

£500

2.89%

£500


1 Sept 20182.5% of the outstanding loan balance until 1 Sept 2018

70% 2.69% 3.19%

75% 3.39% 4.19%

3 Year Fixed Rate

60% 2.89% 2.99%

1 Sept 20193.5% of the outstanding loan balance until 1 Sept 2019

70% 3.85% 3.89%

75% 4.19% 4.29%

5 Year Fixed Rate

60% 3.09% 3.15%


70% 3.85% 3.89%

75% 4.29% 4.39%

Everyday Fixed Rate – Percentage fee options

EVERYDAY BUY TO LET RATESWhether your clients are keen to get into property or hoping to expand their portfolios, why not give them a helping hand with one of our buy-to-let mortgages designed to fit a range of needs.

Key product features:> Fixed and tracker deals available up to 75% LTV, with a choice of fee options> All deals come with cashback> The £99 application has been waived from all BTL deals for a limited period> Maximum loan size of £1m> Flexible features – your clients can make overpayments and apply for payment holidays (subject to criteria)*

which can be useful to offset rental voids

*Flexible features are subject to Virgin Money’s agreement and the terms and conditions of your client’s mortgage.

11

Everyday Tracker Rate – Percentage fee options

ProductMax LTV

2.5% Product Fee Options 2.0% Product Fee OptionsReverting Rate Until

Early Repayment ChargeProduct Rate Cashback Product Rate Cashback

2 Year Tracker Rate

60% 1.89% (BoE + 1.39%)

£500

2.49% (BoE + 1.99%)

£500

Following the Tracker Rate period, the loan will revert to Virgin Money’s Buy To Let Variable Rate (currently 4.99%)

1 Sept 2018


70% 2.29% (BoE + 1.79%) 2.99% (BoE + 2.49%)

75% 3.35% (BoE + 2.85%) 3.95% (BoE + 3.45%)

Everyday Tracker Rate – Flat-fee options

Product Max LTV£995 Product Fee Options

Reverting Rate UntilEarly Repayment ChargeProduct Rate Cashback

2 Year Tracker Rate

60% 1.77% (BoE + 1.27%) £500 Following the Tracker Rate period, the loan will revert to Virgin Money’s Buy To Let Variable Rate (currently 4.99%) for the life of the loan

1 Sept 2018


70% 2.49% (BoE + 1.99%) £500

75% 2.54% (BoE + 2.04%) £750

THERE’S ‘SORRY, PRODUCT WITHDRAWN’.AND THERE’S 24 HOURS’ NOTICE.We will give you at least 24 hours’ notice before we increase the rates on our mortgage deals. We will never just pull these products without letting you know first. That way you and your customers know exactly where you stand.

EVERYDAY BUY TO LET RATES

12

Valuation/Purchase price Basic Valuation Report fee HomeBuyers Report fee

Up to £60,000 £112 £270

£60,001-£100,000 £132 £311

£100,001-£150,000 £163 £352

£150,001-£200,000 £188 £398

£200,001-£250,000 £214 £444

£250,001-£500,000 £275 £510

£500,001-£750,000 £331 £561

£750,001-£1,000,000 £377 £612

£1,000,001-£1,500,000 £510 £817

£1,500,001-£2,000,000 £663 £1,021

£2,000,001-£2,500,000 £817 £1,225

£2,500, 001-£3,000,000 £970 £1,531

Over £3,000,000 By negotiation By negotiation

The Basic Valuation Report fee includes the VAT charged to Virgin Money by the valuer.

The HomeBuyers Report fee is made up of two elements:> The Basic Valuation Report fee (as above)> The additional cost of the HomeBuyers Report, on which VAT is charged to the applicant

Please note, the valuation fee(s) above are based on the actual property valuation.

MAXIMUM LTV LIMITS

Maximum loan to valueValuation or purchase price, whichever is lower

£0-£500,000 £500,000+

Residential PurchaseInterest Only 70% 70%

Repayment 95% 80%

Residential RemortgageInterest Only 70% 70%

Repayment 90% 80%

BTL Purchase and RemortgageInterest Only 75% 75%

Repayment 75% 75%

VALUATION FEES

LENDING POLICYFor full details of our lending policy, please visit the intermediary website or download our A-Z Lending Policy App and get instant easy access to our policy on the go.

13

Flexible featuresLife is full of change, which is why all our mortgages come with flexible features, allowing your clients to choose whatever works for them at the time. Please note, flexible features are subject to Virgin Money’s agreement and the terms and conditions of your client’s mortgage.

OverpaymentsOverpayments are a great way for your clients to reduce the amount they owe, save interest and potentially repay earlier than planned. They are available on both our Residential and Buy To Let mortgages:

> Everyday products – overpayments of up to 10% of the outstanding balance per calendar year, with no Early Repayment Charge.

> Flexible products – unlimited, charge-free overpayments can be made regularly or as a lump sum, providing the loan is not redeemed in full.

Payment holidaysFrom parental leave to emergency boiler repairs, payment holidays are a great way for your clients to free up some money when they need it most. Again, they are available on both our Residential and Buy To Let mortgages:

> For every nine consecutive full mortgage payments, your client can arrange one payment holiday and up to a maximum of three payment holidays after 27 consecutive full payments.

> Interest will still be charged during the month of the payment holiday, and a payment holiday will increase the outstanding balance on which future interest charges are calculated.

> Payment holidays will be allowed based on your client’s ability to repay the revised total mortgage balance and the new monthly payment based on their circumstances at the time.

Underpayments and borrow backAnother useful feature of our Flexible products is the option to make an underpayment, or borrow back previous overpayments:

> If your client has made overpayments, they can apply to make a lower monthly payment or stop their monthly payment until the overpayment is used up.

> They can apply to borrow back some or all of the overpayments they have made (£500 minimum). Any money they borrow back is charged the same rate of interest as their mortgage.

Portable productsAll mortgages within our current range are fully portable, allowing clients to transfer their rate to their new property and take their Virgin Money mortgage with them.

> If they need to borrow an additional amount for the new property, they can apply for any new product available at the time that is within the same product family as their main loan, e.g. Everyday or Flexible.

> Clients can also take on a completely new product for the whole loan of their new property. Please note, an Early Repayment Charge may apply, subject to the original mortgage terms and conditions.

For more information, please visit the intermediary website.

Product switchingOnce your client’s application is submitted, we will reserve funding for their chosen mortgage on the product selected. If your client wishes to change products, their subsequent choice must come from the same product range. Your client will not be able to switch to a product from a previous or later range.

Additional feesAll residential and BTL mortgages are subject to a non-refundable £99 application fee unless stated otherwise.

If your client’s mortgage is redeemed or ported before the full mortgage term ends, a mortgage exit fee of £50 will be payable on redemption of their mortgage to cover the administrative cost incurred by Virgin Money.

For full details of our mortgage fees, please visit the intermediary website and view the Tariff of Mortgages.

Free valuation and legalsAll our standard residential remortgages come with a free basic valuation and free legal work from our panel of approved solicitors. Please note a physical valuation may not be instructed on all remortgage cases.

Purchase clients will be required to pay the valuation fee and cover their legal fees. For full details of the valuation fee scale, please see page 10.

CashbackFrom time to time we may offer a cash incentive on completion for selected products to help your clients with the costs related to buying a new property. The cashback incentive is not available to customers who are porting, including when taking additional borrowing.

Loyalty discountOnce a customer has had their residential mortgage with us for seven years, a Loyalty Discount is available provided that they do not continue to benefit from a special rate (such as a product discount, a Guaranteed Rate, or Fixed Rate) or other product benefit (such as a cashback) and they are not within an Early Repayment Charge period.

The Loyalty Discount will be at least 0.25% off Virgin Money’s current Standard Variable Rate for the rest of the life of the loan. The current Loyalty Rate is 4.54% (effective from 1 March 2009).

If a customer moves home and takes a new mortgage product with Virgin Money (or they transfer their existing mortgage to their new home) they will lose the benefit of any time that has accrued towards the calculation of the seven years.

Virgin Group discountsAs a Virgin Money Intermediary Partner, you can enjoy a range of offers from across the Virgin Group.

And don’t forget to tell your clients they can take advantage of these offers too when they become a Virgin Money customer.

MORTGAGES THAT OFFER MORE

14

For professional Intermediary use only. This description of Virgin Money’s mortgages is directed at professional intermediaries who are authorised or exempt by the Financial Conduct Authority. The products described in this guide are available, through professional intermediaries only. This is not a financial promotion and should not be displayed as such. People who do not have professional experience of mortgage products should not rely on this guide.

Virgin Money plc – Registered in England and Wales (Company No. 6952311). Registered Office – Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. VMP90V117 (Valid from 09.06.16)

SUBMITTING BUSINESSVirgin Money Online (VMO)

All applications can be submitted via VMO, which allows you to complete case details without being connected to the internet. Once your case is submitted you can keep up to date with its progress through our email update service and improved case tracking facilities. Our case management services also provide a range of archiving and storage options to meet your compliance needs.

Porting applications with additional borrowing where the additional borrowing is on a separate product to the main mortgage loan must use a paper application.

For details of how to install VMO onto your desktop or laptop, please visit our website.

Mortgage Trading Exchange (MTE) Virgin Money offer full form submission for mortgage applications via the Mortgage Trading Exchange (MTE).

Supporting documents

We know that no one likes to waste time on unnecessary administration, especially when you could be spending that time with your clients. So, please scan and send all supporting documents to [email protected] and please remember to include the 8-digit mortgage/case number in the subject field of your email to us.

Or you can post these to:

Mortgage Processing Virgin Money plc Jubilee House Gosforth Newcastle upon Tyne NE3 4PL

If we do not receive supporting documentation, this could cause delays. Sending additional documents we haven’t requested may also cause delays.

GETTING IN TOUCHOur websiteOur easy-to-use website with a handy Q&A section is a great first step, whatever stage your application is at. You will also find a comprehensive guide of our lending policy here. Just visit virginmoneyforintermediaries.com

Depending on your query, here are all the other ways to get in touch:

VMO Case Tracking Get the information you need without having to make a call. Case Tracking allows you to see everything available to our BDMs, and with updates through VMO and by email three times a day, you will always know what stage your application is at.

For VMO support call 0345 602 8348*

Intermediary Relationship SupportFor any queries before submitting an application, please call our Intermediary Relationship Support Team on 0345 600 1516,* or fax us on 0345 603 5885.

They are here from 8.30am to 6pm, Monday to Friday, excluding Bank Holidays.

Procuration FeeFor any questions about your Procuration Fee, please email: [email protected]

* Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

And your dedicated Business Development Manager is always around to help.

Documents

ALL OUR MORTGAGES - Virgin Money · MORTGAGES ISSUE 95 VALID FROM 09.06.16. 2 On Thursday 9 June we made changes to selected core products and we also withdrew our 2 Year Fixed Rate