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)
- 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)
- 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.
HOW TO APPLY
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 - https://loanbase.com.au/compare-home-loans-fva, or contact one of our brokers directly with their details below.
Leo Gonzales, Email: [email protected], Calendar link: https://calendly.com/loanbase-leo/initial
Eric Cheng, Email: [email protected], Calendar link: https://calendly.com/loanbase-eric/quickchat
Andrew Loucas, Email: [email protected], Calendar link: https://calendly.com/loanbase-andrew/quickchat
Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.