Both Virgin Money and Clydesdale Bank have improved their product switching policies for pipeline cases.
This means that brokers can switch their customer’s previously selected product onto a new product from either bank’s current new business range as many times as needed prior to completion.
Product switching will be available on cases that are at pre-offer or post-offer stage up until either lender has received the Certificate of Title from the solicitor.
For Virgin Money cases, brokers and borrowers must complete the new Mortgage Product Switch Form.
Richard Walker, head of intermediary sales at Virgin Money, said: “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.
“Following last week’s improvements to affordability for residential mortgages fixed for five years or longer, it’s great that we are now able to offer multiple product switches on applications pre completion.”
