Story by: David Pawsey, Mortgage Adviser
Virgin Money confirmed plans to become a "fully fledged bank" as the Treasury stated its bid for Northern Rock was rejected because it would have cost tax payers £2bn.
There are 87 per cent less exclusive mortgage products available to intermediaries than a year ago, according to Abbey.
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In the financial services industry, reputation is everything. If you cannot get people to believe you are providing a high standard of service, you will not succeed.
Virgin Money's bid for Northern Rock was rejected because it would have cost tax payers £2bn.
The future of exclusive intermediary mortgage deals looks grim with many mortgage lenders contacted by Mortgage Adviser revealing no immediate plans to bring such offerings back.
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