Virgin Money Home Loan Fixed 5 Yrs Owner 2.49%, Investor 2.99%, Investor IO 3.19%

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AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 31/08/2020 - 14:22 virginmoney.com.au (73 clicks)
Last edited 05/02/2022 - 21:35 by 1 other user

Virgin Money will be decreasing 5 fixed rates for new lending, from 28th August 2020. This is a new offer.
If 5yrs is not for you, contact us for low 1-2 yr or variable rates from 2.19% with other lenders plus up to 0.4% broker rebate.

If you see other offers on Ozbargain eg Unibank, Teachers Mutual, Health Professionals, contact us to obtain a price beat guarantee on the same product. eg broker rebate up to 0.4%+. Ozbargain does not allow brokers to post duplicate offers if already posted on Ozbargain, but most brokers have access to all the same lenders and products.

5 year fixed OO P&I up to 80% LVR
2.49% p.a. CPR: 2.87% p.a.

5 year fixed INV P&I up to 90% LVR
2.99% p.a.CPR 3.36% p.a.

5 year fixed INV IO up to 90% LVR
3.19% p.a. CPR 3.41% p.a.

PLUS
$2500 refinance cashback to end by 29th November 2020, with loans now required to settle by 28th February 2021:
Offer applies to a minimum loan amount of $300,000 and up to 80% LVR
Offer applies to new borrowings only
Customers will need to open a companion account alongside their loan. The $2,500 cashback² payment will be credited to the companion account.

PLUS
Up to 0.4% Broker Rebate for purchase or refinance (available via Broker only, not via the bank).
In ADDITION to bank rebates, we have up to 0.4% rebate of loan size (net of offset ie balance owing) for ANY bank or product (Paid 50/50 at 2 and 24 months after settlement).

Len
Bundle Property Home Loans
T: (02) 9698 7186
M: 0422354868
E: [email protected]
ACL 445947

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• 

  LittleTicket on 31/08/2020 - 14:46

  +3

  2.49% over a 5 year period is probably the sweet spot (it’s hard to think rates will fluctuate too much over the next 5 years), but just to remember a few things:
  - break fees on the loan will be extremely expensive
  - if your circumstances change you’re in a bit of strife
  - if you’ve got a decent chunk of offset this probably isn’t for you

  • 

    MechEng on 31/08/2020 - 15:23

    +2

    I don't think that locking 5 years at this rate is good to be honest.
    The difference is only 0.15% p.a. with ING full offset. This is $750 in a year difference in interest on a $500,000 loan. So if you have $48K in your offset, you're better off with ING, and do not need to be locked in for 5 years.
    The above was just an exercise and you need to do your own due dilligence and look at other banks for a better rate.

    • 

      xiaozaocha on 31/08/2020 - 15:29

      agreed. Many banks offer switch cash rebate which is one major reason I consider my lender. 5 Years is too long.

    • 

      radissimo on 31/08/2020 - 15:42

      well, I agree , however your assumption is that withing 5 years the rates won't go UP….

      • 

        MechEng on 01/09/2020 - 08:41

        the contrary is also true. Given the current economic climate I don't see rates going up for a while.

        • 

          radissimo on 01/09/2020 - 18:50

          @MechEng: yeah, but 5 years? are you certain?