The partnership will streamline the search and application process for intermediaries by removing the need to re-key data in multiple places.
Users can apply for a Decision in Principle from Virgin via this integration and submit a full mortgage application and payments without needing to visit the Virgin Money portal.
Available across residential and buy to let, for both purchase and remortgage customers, the technology will be rolled out to the wider market in early 2021.
Simon Wallace, head of mortgage integration and transformation at Virgin Money said: “At Virgin Money we have made no secret of our ambition to drive change and innovation in the mortgage market. This exciting partnership with Twenty7tec will play a key part in achieving that goal.
“The Apply platform will make it even easier for intermediaries to submit cases to us, saving them precious time, which could be better spent on helping their next client.”
James Tucker, CEO of Twenty7Tec, said: “Virgin Money has a great track record for innovating in the mortgage market and playing a huge role in delivering better customer service, so we’re over the moon to help them with this integration. As a result of this deal, Virgin Money Customers will experience a seamless experience from beginning to end – something which the Virgin brand is so closely allied with. We’re proud to be their partner in making the mortgage experience a little better for everyone involved.”
Ben Thompson, deputy CEO of MAB added: “This is a really progressive step, that we thoroughly welcome. Simplification of the mortgage process is very much needed, even more so in the current environment.”
Adrian Scott, group mortgage services director of Connells said it’s great to see another lender go live with the Apply system. “This will make writing business with Virgin Money far more efficient, which is always an attractive proposition for any broker, but particularly at this time when the market is so busy,” he added.