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Virgin Money joins Experian’s pre-qualified lender panel

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  • 21/09/2020
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Virgin Money joins Experian’s pre-qualified lender panel
Virgin Money has signed up to join Experian’s panel of lenders to appear on pre-qualification websites and mortgage adviser platforms.

 

The technology gives brokers and borrowers an early indication of which lenders will offer a loan by combining Virgin Money’s mortgage affordability requirements with Experian’s soft search software.

Users are given an automated decision about whether they match the mortgage lending criteria based on their credit history.

If the borrower is accepted they will told the maximum amount they can borrow.

Virgin Money’s standard residential and Help to Buy ranges are available on the platforms.

Brokers can use the system to narrow down the most suitable lenders for their clients.

Lisa Fretwell, managing director of data services at Experian UK&I, said: “Going through a lengthy mortgage application just to be turned down can be frustrating for everyone involved, not least the buyer who has found their dream home.

“By checking eligibility at the beginning of the journey, potential customers can see which mortgages they are likely to be accepted for based on their financial circumstances, while at the same time avoiding damage to their credit score.”

Virgin Money mortgage products are now available through pre-qualification platforms including Mortgage Gym, New Homes Group, Mojo Mortgages, Property Pal Mortgages and Iress Xplan Mortgage.

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