Virgin Money has extended its product transfer window from four to six months, allowing brokers to apply for new rates earlier.
In a note to brokers, the lender said that with this “extra flexibility”, brokers can apply for a customer’s new rate with the lender earlier, which is six months before their current rate matures.
The firm said that there was no change in the application process.
Product transfer windows typically vary between three and six months but more lenders are opting for longer time periods.
Several lenders have increased their product transfer windows in recent months, including Bank of Ireland, The Mortgage Works, Halifax, HSBC and Nationwide.
The Mortgage Charter earlier this year mandated that from 10 July customers approaching the end of a fixed rate deal should have the chance to lock in a deal up to six months beforehand, however, as the wording states up to many lenders have kept their current timeframes.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
