Virgin Money Mortgage app Timeline

readysteady123

Does anybody have some recent information on Virgin Money mortgage application timelines? 
We havee been given a wait time of around 2 weeks from submitting application (via broker).
Thank you. 

Welshspacechick

Following this with interest. My buyer is using Virgin money. Her valuation survey was today so hoping for some info on how long it will take for her mortgage offer to come through...

readysteady123

Goodluck @Welshspacechick
Since I posted this afternoon,  we have now booked a valuation survey too for this Friday 10th Sept. 

So in summary: 
We submitted our application on 7th Sept.
We received text notification today (8th Sept) that we could book our survey.
Survey now booked for Friday 10th Sept. 

Anybody further along the process? 

london21

They are good but I am awaiting their response after a structural engineer report was requested and submitted.

online says response 6 days so keeping my fingers crossed. 

Rates have dropped twice since my application so have an appointment tomorrow to get the lower rate also. 

landsbeyondthesea

readysteady123 said:

Does anybody have some recent information on Virgin Money mortgage application timelines? 
We havee been given a wait time of around 2 weeks from submitting application (via broker).
Thank you. 

Broker submitted our application 8 June, offer received 23 June. Our vendor subsequently decided she would prefer not to sell :-(

readysteady123

Oh no. Sorry to hear that @landsbeyondthesea. How difficult that must have been for you to go through the process and the property not be available at the end of it!

(Thanks re. timescales). 

TripleH

Our broker submitted the application on the 24th August, valuation on the 1st September and offer received yesterday.

There is about a 6 day period between valuation taking place and final decision being released.

We are a no chain purchase (renting to empty property) so that might have an impact?

london21

TripleH said:

Our broker submitted the application on the 24th August, valuation on the 1st September and offer received yesterday.

There is about a 6 day period between valuation taking place and final decision being released.

We are a no chain purchase (renting to empty property) so that might have an impact?

That's good timing, there is something on their website broker applications" In fact, we’ll issue an Offer to your customer within 10 working days of receiving a fully-packaged application, or we’ll give them £100. " 

readysteady123

I've found an update online for Virgin Money service levels. Its's currently 16 days on average between application and offer.
If you google VM mortgage service levels, you'll find the link. 
Fingers crossed its sooner for those of us waiting. 

readysteady123

london21 said:

TripleH said:

Our broker submitted the application on the 24th August, valuation on the 1st September and offer received yesterday.

There is about a 6 day period between valuation taking place and final decision being released.

We are a no chain purchase (renting to empty property) so that might have an impact?

That's good timing, there is something on their website broker applications" In fact, we’ll issue an Offer to your customer within 10 working days of receiving a fully-packaged application, or we’ll give them £100. " 

I saw this online too but couldn't open the link to T&Cs attached. 

arrows123

Mine took almost four weeks although it had to go to underwriters as I’m a sole applicant and self employed which my broker told me was pretty standard.