Xplan mortgage4/28/2023 ![]() By checking eligibility at the beginning of the journey, potential customers can see which mortgages they are likely to be accepted for based on their financial circumstances, while at the same time avoiding damage to their credit score.” Lisa Fretwell, Managing Director of Data Services, at Experian UK&I, said: “Going through a lengthy mortgage application just to be turned down can be frustrating for everyone involved, not least the buyer who has found their dream home. This removes the need to negotiate the numerous touchpoints for criteria, credit reports and affordability calculators, often saving hours per application. If accepted, the application will be supported with details of the maximum amount they can borrow.Įxperian’s pre-qualification platform, which now includes Virgin Money’s standard residential and Help to Buy ranges, helps set clear expectations around people’s borrowing power and the options available to them.īrokers can also benefit by using the results to swiftly navigate the initial stages of the mortgage process by narrowing down the most suitable lenders for their clients in seconds. It helps to match prospective customers to the mortgage deals they are eligible for and provides a far more accurate decision earlier in the application process.Ĭombining Virgin Money’s mortgage affordability requirements with Experian’s soft search capabilities, the solution provides customers with an automated decision based on their credit history to determine whether they match the mortgage lending criteria. The partnership sees Virgin Money become the latest brand to join Experian’s panel of lenders that appear on pre-qualification websites and adviser platforms. UK, 21 September 2020: Virgin Money will put mortgage eligibility in the hands of homebuyers and intermediaries after joining Experian’s pre-qualification platform, helping to widen its reach in the digital marketplace.
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