Virgin Money Home Loan - 1.79% Fixed 2 Years (80% LVR), $0 Upfront / $10/Month Ongoing + $3000 Lender Cashback


As of 15 September 2021, Virgin Money has confirmed that they are now approving discretionary pricing for rates as low as 1.79% pa (2.62% comp), fixed for 2 years all the way up to 80% loan-to-value ratio (LVR).

They also currently have a 1 day SLA for PAYG and sole trader applications, and offer sharp discretionary variable rates and relatively high borrowing power for most customers (higher than most of the major banks).

Finally, they are offering a full $300 application fee waiver and $150 settlement fee waiver for applications through brokers who aggregate through Finsure / Loankit (which includes Loan Base), and their ongoing fees are only $10 per month.

Virgin Money's most competitive Special Offers:

Owner Occupied P&I:

  • Reward Me 2-year Fixed, <80% LVR = 1.79% pa (2.62% CPR)
  • Reward Me Variable Bundle (with 100% offset), <60% LVR, >$500k lend = 2.19% pa (2.36% CPR)
  • Reward Me Variable (with 100% offset), <60% LVR, >$500k lend = 2.39% pa (2.56% CPR)

Investment P&I:

  • Reward Me 2-year Fixed, <80% LVR = 2.39% pa (2.85% CPR)
  • Reward Me Variable Bundle (with 100% offset), <60% LVR, >$750k lend = 2.39% pa (2.56% CPR)
  • Reward Me Variable (with 100% offset), <60% LVR, >$750k lend = 2.59% pa (2.76% CPR)

Investment IO:

  • Reward Me 2-year Fixed, <80% LVR = 2.59% pa (2.96% CPR)
  • Reward Me Variable Bundle (with 100% offset), <60% LVR, >$500k lend = 2.74% pa (2.79% CPR)
  • Reward Me Variable (with 100% offset), <60% LVR, >$500k lend = 2.94% pa (2.99% CPR)

Promotional Rate Requirements:

  • Debt to Income ratio (DTI) must be less than 6.
  • New to bank lending only, with minimum $300k of total new lending.
  • Not available for refinance or restructure of existing BOQ Group lending.
  • Split lending available.
Virgin Money Variable Bundle Rates:
  • 0.20% reduction in the carded special variable rates for OO P&I, INV P&I and INV IO.
  • Available for customers who apply for and settle a combination of OO and INV lending.
  • Minimum lending of $500k.
  • For new lending only that is submitted until 30 November 2021.
  • <60 % LVR required.
  • <6 DTI required.
Virgin Money Home Loan Fees:
  • Upfront = $450 / $0 for Virgin Money applications submitted through a Finsure broker, including Loan Base!
  • Ongoing = $10 pm per split
Virgin Money $3,000 Refinance Cashback Offer Eligibility:
  • Personal customers taking out a new "Reward Me" Home Loan with Virgin Money.
  • Applications need to be received on or before 30 November 2021.
  • Loans must settle on or prior to Friday, 28 February 2022.
  • Minimum new lending of at least $300,000 with maximum LVR of 80%.
  • Not available to the refinance or restructure of existing Virgin Money home loans.
  • Customers will automatically be paid the cashback into their Reward Me Home Loan Companion account, provided the eligibility criteria outlined above has been met, within 60 days of settlement

Up to $1,000 Loan Base Broker Cashback Offer Terms:
  • Additional Broker Cashback available on refinance or purchase loan applications submitted through Loan Base until 30 September 2021.
  • New lending must include a component that will be fixed for at least 2 years
  • Not available for applications refinancing existing Loan Base lending that is still within the current lender's clawback period (generally 2 years)
  • $500 cashback available for settled utilised lending (net of offset and redraw) of $500k +
  • $1,000 cashback available for settled utilised lending (net of offset and redraw) of $1m +
  • Subject to meeting the above criteria, just mention this Loan Base Ozbargain cashback offer to your broker during your initial conversation (prior to your proposal presentation).

Whilst these offers are very compelling, they will not suit everyone and not everyone will qualify for them - please therefore contact us to confirm the best deals you could qualify for from our panel of over 50 lenders before applying

Other related special offers:

  • Up to $5k lender cashback on purchases and refinances with BCU, with very sharp fixed rates.
  • 3 year fixed rates of 1.85% pa (2.54% CPR) on owner occupied or investment^ purpose lending, with $2k lender cashback through 86 400.
    ^ Note that an owner-occupied security property is required to access this rate on investment purpose lending.


You can apply through directly through the lender, or through an accredited broker, of which we have several across our team of specialists.

Our team is here to help, and will work to ensure we obtain the best pricing and offers possible for you. You can lodge an enquiry via our award winning tech platform here -, or contact one of our brokers directly with their details below.

Leo Gonzales, Email: [email protected], Calendar link:
Eric Cheng, Email: [email protected], Calendar link:
Andrew Loucas, Email: [email protected], Calendar link:

Loan Base Pty Ltd (ABN 95 162 141 915) ยท Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.

Referral Links

Referral: random (114)

When the referee takes out a Go Account using a referral code and makes a purchase, that is settled (not pending), direct debit or BPAY payment within the first 30 days, both parties receive 5000 bonus points.

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  • For the investment IO variable, should one of the rates say <$500k?

    • Hi shifty909, the rates in the description are the most competitive for each option they have available. The bundle rate requires you to submit OO & INV securities, whilst the non-bundle rate can be obtained with stand-alone security.

      Best <$500k Investment Variable IO rates are 2.79% (2.84% comp) pa when bundled with OO & Investment security, or 2.99% (3.04% comp) when standalone.

  • nb question… what does it mean "1.79% Fixed 2 Years"? What happens after you have the loan for 2 years?

    • +1

      HI bp1984, after the fixed term the rate would revert to an ongoing variable rate which is currently 2.59% pa (at this time, we could also help you look at submitting a discretionary pricing request, re-fixing, or refinancing).

  • I applied for a credit card with Virgin once and got knocked back on serviceability (I think that is the only time that has ever happened to me). Discussions here at the time suggested that Virgin were harsher than banks when assessing applications. Does anyone know if this the case now?

    • Hi Ozimodo, that may have been the case with credit cards, but we've actually found BoQ and Virgin (Virgin is part of the BoQ group) to be quite generous with serviceability; generally offering a higher maximum loan amount than any of the major banks for most customers. Let us know if you'd like us to check your borrowing power for you.

  • Whats the best variable rate on owner occupied these days

    • Best variable we are seeing from a bank lender with cashback lately is BoQ - they are offering 1.98% pa with a $3k refinance cashback for <70% LVR Owner Occ loans (2.03% pa for <80% LVR). $450 upfront and $10 pm ongoing fees.

      • What about

        • They don't use brokers, they also have a reputation for rate creep

  • Any advice on getting a loan for a tenant to buy my house (which is only $130k), so real house prices, not eastern states prices.

    I have had tenants in the past wanting to buy, but they all say "they can't get a loan" due to needing a too large deposit, poor savings record etc.

    However, the repayments on such a small loan would be less than the rent they pay currently. So they have a perfect rental payment record for a few years, which shows they could service the loan.

    Love to get them off the rental roundabout, and do me a favour at the same time.

    Can anyone point me in the direction of loans for people with small deposits etc, or products where someone can gift a deposit or something like that.

    • Hi tunzafun001, several lenders will accept rental ledger in lieu of genuine savings for higher LVR loans with LMI (eg Nab, CBA, Bank Australia, Beyond Bank, My State); but some of the majors tend to maintain strict credit scoring for higher LVR loans).

      Before looking at LMI, I would recommend first looking at the First Home Loan Deposit Scheme, where eligible first home buyers can borrow up to 95% of a property's purchase price without needing to pay LMI via a Government Incentive.
      - CBA, Nab, Mystate, Auswide Bank all offer these loans but there are limited spaces that become available every 6 months to 1 year.

      Alternatively, if they have parents with a property they could look at borrowing through any of the big 4 banks with a family pledge / security guarantee to avoid LMI.

      Finally, there are a number of lenders offering 85% LVR lending with no LMI (eg 86 400, St George for First Home Buyers, BoQ, Citibank) and Bluestone goes all the way to 90% LVR lending with no LMI.

      • Any deals on 10% deposit?

        • Hi bennybaubles; yep Bluestone will do 90% LVR, no LMI lending, so you just have to pay deposit plus closing costs (eg stamp duty on purchase) - however I believe the rate is around 3% pa for owner occ.

          Several lenders will also do 90% LVR, no LMI lending for medical professionals, accountants, solicitors, engineers.

      • Cheers. So in summary, the very minimum would be a 5% deposit / collateral?

        • Unless they have relatives to provide additional security, yes. If they can get a family pledge/security guarantee, they potentially wouldn't need any deposit.

  • Do you do construction loans for 3 townhouses on a single property?

    • Hy jerryd, yes - we actually have several lenders who can look at this; please reach out if you'd like to speak to a broker to find the best option for what you are looking to do.

  • Is the 3K cashback also available for new purchases?

  • I had applied directly through virgin money a couple of weeks ago and have been unconditionally approved already. Is that a special rate of 1.79%? Because the best I can get is 1.98% 2 year fixed… so how can I get that?! Thanks

  • Hi OP, is there any split option available with cashbask option?