Switching Virgin Money and Clydesdale Bank products pre-completion

Great news! Virgin Money & Clydesdale Bank can now support product switching on pipeline cases. That means you can switch your customer’s previously selected product onto a new product from their current new business range.

They know this is important to you and after listening to feedback they’re pleased to announce their updated approach.

Here’s what you need to know

Product switching is available on cases that are at pre-offer stage or are within 60 days from the date on the offer if at offer stage.
You can help your customer switch products once on pipeline cases, otherwise they’ll ask you to submit a new application.

When you’re ready, follow these simple steps:

For Virgin Money switching

For Clydesdale Bank switching

Give their mortgage processing team a call on 0345 601 0680* and let them know which product your customer would like to switch to.

Once they’ve changed the product, they’ll send a new offer to the customer. If the case is not yet at offer stage, they’ll send an updated illustration instead.

Complete their Change of Application Form and upload it on the application portal.

Once they’ve changed the product, they’ll send a new offer to the customer. If the case is not yet at offer stage, they’ll send an updated illustration instead.

Just so you know, there’s no change to their approach for existing customers taking a product transfer and they’ll continue to accept pipeline product switches as usual.

Both Virgin Money & Clydesdale Bank website’s and literature will be updated in the coming days.

Richard Walker, Head of intermediary Sales

“As an intermediary-led lender we value the feedback we receive from brokers and are constantly looking at ways in which we can improve the service they receive from us. This latest change, where we are giving customers greater flexibility to switch products, is in addition to also giving brokers the functionality to help customers switch from a Freedom to Fix Tracker on to a new fixed rate and earn a procuration fee."

“Our BDMs also now have improved access to a dedicated underwriting team, who can agree an application upfront and provide more certainty for more complex cases. We also have a Large Loan helpline where brokers can call a Clydesdale Bank underwriter for loans above £750k to discuss the application directly.”

To discuss a case above £750k please call 0113 224 1369**

You can find the current Virgin Money rates in their Mortgage Update and Clydesdale Bank rates on their website. If you’ve got any questions, you can get in touch with your Business Development Manager.