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Virgin One campaign bids to double sales via intermediaries

Current account mortgage provider Virgin One is setting up a dedicated sales and marketing support service for mortgage brokers in a bid to double its intermediary sales.
Virgin is sending marketing packs to 10,000 mortgage brokers and IFAs in a move it hopes will help increase its proportion of sales through intermediaries to 25 per cent from the current level of 12 per cent.
The pack offers intermediaries the choice of three levels of support to cater to the different needs of brokers – from those who concentrate their core business on mortgage sales to those who only give advice for one or two loans each month.
IFAs writing occasional mortgage business can opt
for the basic package, which provides them with tailored
Virgin One-branded posters, marketing literature and membership of its reward programme.
Dedicated mortgage intermediaries have the choice of Virgin&#39s gold or platinum support service, which offers face-to-face training, investment in direct-mail campaigns and exclusive
literature for borrowers.
Brokers choosing the platinum option can get a local partnership manager to visit companies and advise them on the best ways to maximise sales of Virgin One. Platinum also offers joint local advertising, priority for applications and access to Virgin&#39s underwriters.
Marketing manager Scott Mowbray says: “We think this will be a very successful approach to developing our current intermediary relationships and encouraging many others to come on board.”


Portman adds £1bn to loan book with Sun Bank deal

Portman Building Society has completed the £95m acquisition of specialist lender Sun Bank from Sun Bank of Canada in a deal which adds almost £1bn to the society&#39s mortgage book.Sun Bank, with 75,000 customers and total assets of £1.2bn, will become the intermediary lending arm of Portman over the next few years as the society […]

&#39Shun FSA&#39s half-baked fund tables&#39

Consumers should shun the FSA&#39s “half-baked” comparative tables and use websites that contain full fund information, says Autif director of communications Anne McMeehan.Speaking at the Money Marketing IFA UK conference in London last week, McMeehan said: “Go to the FT website and you will see ratings, past performance, risk and cost-based statistics. Go there for […]

Whitechurch bids to aid IFAs switching networks

Whitechurch Network is calling on the industry to set up a clearing house to handle commission payments owed to IFAs when they move networks.The network is calling on rivals and providers to collaborate in a thinktank to tackle delays faced by IFAs in getting commission paid through their old network when they move.Whitechurch points to […]

Merricks tells Govt to get its act together on reviews

The chief ombudsman has called on the Government to “get its act together” and align what the Treasury and the FSA are doing with the Sandler and polarisation reviews.Walter Merricks was critical of the number of reviews of the financial services sector.He told the conference: “The industry is suffering with the number of reviews and […]


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