In the nine months to 30 September, gross lending at Virgin Money increased to £5.5bn, up from £4bn over the same period last year. Meanwhile, net mortgage lending almost doubled in the first nine months of the year, to reach £2.6bn, compared to £1.3bn during the same period in 2014.
Virgin said its commitments to the intermediary market have helped boost its lending performance.
By processing applications as soon as they are received and instructing valuations on day one, Virgin added that it had provided mortgage offers within 10 working days of receiving the full-packaged application.
Further commitments include offering at least 24 hours’ notice to intermediaries before increasing mortgage rates and giving brokers access to its full mortgage range instead of keeping the best deals for direct customers.
Peter Rogerson, Virgin Money’s commercial director for mortgages, said: “Strong relationships with our intermediary partners are a key component of our mortgage proposition, which is why we clearly laid out our partnership commitments early in 2015. We’re delighted to say that we have stuck by all of them and exceeded in a number of areas.
“Combined with a number of other improvements we have made this year, such as our policy app and improved online affordability calculator, sticking to these commitments has been an important factor in delivering the strong mortgage lending growth we have seen so far in 2015. I would like to thank all of our intermediary partners for their support during 2015.”
