Virgin would like to tell you about some business-boosting changes coming your way, thanks to improvements we’ve made to our lending criteria.
Here are the highlights
Below is a summary of the changes made:
- A first for second incomes – we can now use 100% of income from second jobs, where it has been received for at least 12 months. (Until now, we used 50% and needed two years of employment history.)
- Contractors’ contracts easier – we now only need to see a contractor’s contract renewal if there’s less than one month left on it. (This used to be three months.)
- Probation celebration – we’ve made it easier for people in probation because we now only need a copy of their contract, plus a payslip, to prove it’s permanent. (We used to require either proof of two-years’ employment, or an employer letter.)
Any questions?
If you’ve got questions about the updates to our lending criteria, your BDM is the best person to answer them.