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Virgin Money Mortgage

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    #21
    Originally posted by acted View Post
    Mark, your point about having to have anything other than 6 or 12 month contracts throughout the 2 years history is this true?

    Looking at the website I thought your current contract had to be six months. Does not say anything about historical contracts as long as you can prove 2 years contracting?

    E.g. 3 months, 3 months, 3 months, 3 months, 6 months and 6 months
    Hi Acted,

    Like Mark said, They typically prefer contractors on 6 month contract renewals. Of all the contractor friendly lenders out there, they're the most peculiar. Their criteria isn't cast in stone and can be interpreted in different ways from underwriters. Which is why we get cases looked at by the Virgin Business Development Manager before submitting an application. They also look at each case on it's own merits, so they might agree if the LTV was very low for instance. Most Contractor Mortgage Specialists prefer not to deal with Virgin.

    They're not the easiest lender to deal with when it comes to contractors but their rates are just unbeatable at the moment.

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      #22
      My boss has just gone with Virgin for his latest BTL, seems painless so far for him.

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        #23
        1. Submitted my application to Freelancer Financials(FF) on 17/02/2015
        2. VM received application 18/02/2015 and arranged valuation
        3. FF asked for more bank statements 25/02/2015 (FF only asked 3 months bank statements at the beginning, VM came back to ask for 6 months which I think is standard)
        4. 26/02/2015 VM valuation
        5. 27/02/2015 FF came back with the result of valuation (valued at offering price)
        Last edited by 7of9; 3 March 2015, 14:27.

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          #24
          got the mortgage offer

          03/03/2015 , got the mortgage offer! I am really happy that I listened to John and appointed FF as my broker! Very speedy service!

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