Virgin Money aims to help vulnerable clients

October 28, 2023 by Brendan O'Neill

Mortgage Advisors

Virgin Money has announced the launch of a brand-new service mortgage advisors can use to ensure that any of their clients that they consider to be vulnerable get the extra support they need.

This service will require advisors to fill out a basic form that is available via the Virgin Money website. After that has been submitted, a customer care specialist from the mortgage lender will get in touch with the individual in question to talk about any problems that he or she may be having.

The secured lending head for Virgin Money, Craig Calder, stated that the company had decided to introduce this service due to the increasing numbers of people in the UK who are showing signs of vulnerability. Research into the subject has suggested that the number may be as high as 25 million.

He went on to add that the idea behind it was to make it simpler for advisors who are connected to Virgin Money to collaborate with the lender on helping these people. Calder concluded by saying that it would mean that the best results could be achieved for vulnerable clients through assistance from people dedicated to supporting them.

Virgin Money is also arguing that it has a variety of options available to ensure that borrowers classed as vulnerable are able to get help in dealing with their problems.

Mortgage advisors with CeMAP training will welcome new initiatives to assist them in supporting vulnerable members of the public, as they cannot carry that burden entirely alone.