Buy-to-let policy
We offer a hassle-free product transfer service. Applications can be made up to 4 months before maturity and to apply you just need to log onto VMO and choose the ‘Product Transfer’ option from the menu.
A product transfer cannot include:
- Changing the mortgage term
- Changing the repayment type, for example from repayment to interest-only
- Borrowing more
If your client wants to make any of these changes, they must arrange them with us before you complete the product transfer.
A product transfer may not be available in very limited circumstances (e.g. an account is in arrears or has a consent to let).
For more information, view our mortgage renewal sales aid
Change the term or repayment type
Your client must call Account Servicing on 0345 602 8301
Borrow more
Your client must call a mortgage advisor on 0345 600 6622
We’ll review your client’s circumstances and explain the available options.
Accepting the offer
We’ll email and post your customer their offer. If we haven’t asked for any more info, it will be accepted automatically, 10 days after the date of the offer.
To accept sooner, customers should email PTReflectionPeriod@virginmoney.com with their mortgage account number or application number.
To cancel they must call us on 0345 602 8301.
Product switching
As part of any product transfer application, we will allow you to amend the product selected at any point before maturity. There are no restrictions on the number of times you can ‘switch’ products, however:
- If we are in the final month preceding the product transfer, we may have started the completion process, and this will have locked in the chosen rate at that time
- Any request to change rate after this will mean that your customer will have to pay an SVR payment in the month of maturity. The rate will then be amended in time for the following payment with an interest adjustment applied