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GIVE THEIR MORTGAGE A KICK UP THE SVRs

We know that homeowners remortgage for a number of different reasons – to save money, find a more suitable deal, or release equity for home improvements.

And while it’s sensible for them to review their mortgage as they reach the end of their current deal, many consumers have opted for the flexibility of their lender’s SVR in recent years.

But with low mortgage rates, this could mean that millions of consumers are missing out on the opportunity to save money or pay their mortgage off early.

It’s our belief that this presents a compelling market opportunity for you.

Welcome to our Remortgage Zone - designed to help you reach out to prospective customers and grow your remortgage business.

 

The market opportunity

With the low Bank of England base rate, many consumers have opted for the flexibility of their lender’s SVR in recent years rather than choose a new mortgage deal.

But with low mortgage rates, this does mean that many of these consumers are missing out on the opportunity to save money or pay off their mortgage early by remortgaging.

Save them money

Or shorten their term

Time to revisit

 

Your Remortgage toolkit

We’ve created a range of handy materials to help you discuss remortgaging with new and existing clients. We hope you find them useful.

 
 

Sample letters to post to your existing clients

For inspiration on ways to encourage homeowners to think about remortgaging.

Download sample letter Version 1  Document opens in a new window 
Coming to the end of their current deal.

Download sample letter Version 2  Document opens in a new window 
Already on SVR.

Download sample letter Email versions  Document opens in a new window 
with suggested subject lines.

A3 posters for you to print and display in your office

For inspiration on ways to encourage homeowners to think about remortgaging.

Download creative Creative 2  Document opens in a new window 
Remortgage today. Stress free tomorrow (PDF, 2.9MB).

 

The customer facing items provided are for new and existing clients to read and keep. Please make sure you run them by your own compliance team to check they’re happy before you use them. Plus check out the best practice guidelines we’ve created to help.

 

Why you should recommend Virgin Money for Remortgage

A wide range of products and features…

  • We have deals available up to 95% LTV – capital raising is available up to 90% LTV.
  • Fee saver product options available.
  • Free standard legal work and free basic valuation on properties under £3m for residential and on selected BTL remortgage deals.1
  • Flexible features as standard – your clients can make overpayments and apply for payment holidays (subject to criteria).2
  • Discounts from across the Virgin Group for you, and your clients too when they become a Virgin Money customer. View our Virgin Group offers.

…Backed by great service

  • Dedicated Regional Service Teams who know your area well.
  • Offers to your customers within 10 working days of receiving a fully-packaged application, or we’ll give them £100 (Please read the service conditions).
  • Access to all our mortgages - we don’t keep the best deals to help us find new customers ourselves.
  • At least 24 hours’ notice before we increase the rates on our mortgage products.

1 Please be aware that a physical valuation may not take place on all cases.

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

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Want to know more?

Talk to your dedicated BDM, or check out our latest deals, policy and other information available across our website.

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