According to Virgin Money the integration will be the first of its kind from a ‘top 10’ lender.
The new APPLY module will not only enable users to apply for a Decision in Principle (DIP) from Virgin via this integration, but they can also submit a full mortgage application and make payments without needing to visit the Virgin Money portal.
The service, which will be available across residential and buy-to-let products for both purchase and remortgage customers, will initially be made available to Connells and Mortgage Advice Bureau. However it will be rolled out to the wider market in early 2021.
Intermediaries using the platform will benefit from being able to view case tracking and case notes, which will deliver clear and consistent communication for them to manage cases and support their customers.
What’s more, the integration will also reduce the propensity for human error, which Virgin Money said would improve packaging and turnaround times for the intermediary and customer.
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. We’re proud to offer our intermediary partners an end to end proposition, allowing them to submit both Decisions in Principle and full applications to Virgin Money.”
Meanwhile, 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.”
