Virgin Money 2-5 Years Fixed Rates: 4.79% Owner Occupied P&I (CR 4.11%), 4.99% Investment P&I or I/O (CR 4.37%) + $2500 Cashback

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AssociatedMortgage Broker @ Lending Clinic on 08/08/2022 - 16:26 virginmoney.com.au (96 clicks)
Last edited 08/08/2022 - 21:42 by 1 other user

We have access to market leading fixed rates from Virgin Money, where you can lock in sub-5% rate for up to 5 years, it can even be Interest Only for investment property.

• 4.79% Owner Occupied (P&I), 2-5 years fixed rate (revert variable rate 3.54%)
• 4.99% Investment (either P&I or I/O), 2-5 years fixed rate (revert variable P&I rate 3.84%)

With variable rates currently starting from 3.14%, these fixed rates are not for everyone, but can suit if you want peace of mind for the next 5 years, or if you believe variable interest rates will keep rising.

Main criteria:

• Min $300k new loan
• Max 80% LVR
• Sub 6x Debt to Income ratio

Virgin Money also offers $2500 refinance cashback for applications submitted by 31 August 2022 and completed/settled by 30 November 2022.

Virgin Money fees:

• $300 application fee
• $150 settlement fee
• $0 annual fee
• $10 monthly fee for each loan account
• 0.15% rate lock fee if you elect to lock in your interest rate on a fixed rate loan (recommended to ensure you get this rate) (valid for settlement within 100 days)

Third party refinance costs (applicable with all banks):

• Discharge fee for your current bank (usually $350)
• Land title office costs (usually $250-$400)

Contact me for a no-obligation chat 😀
I'm a mortgage broker in Sydney, but I've got OzBargain clients Australia-wide.

We're also giving you $600 extra broker cashback for every $250k net loan.

Arman Soetanto
M: 0431 825 128
E: [email protected]
W: www.lendingclinic.com.au
Lending Clinic Pty Ltd (Credit Representative Number 511270) is authorised under Australian Credit Licence Number 384704

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• 

  TooSerious2 on 08/08/2022 - 18:31

  How can the comparison rate be less than the advertised rate as per the title? Is the cashback included in the calculations? Is this legit?

  • 

    Ckanna on 08/08/2022 - 19:26

    I think comparison rate is taken over the life of the loan. In this case, it’s taking into consideration the lower variable rate post expiry of fixed term.

    Happy to be corrected by the OzB experts

    • 

      AssociatedMortgage Broker @ Lending Clinic on 08/08/2022 - 20:47

      Yup exactly, the revert variable rate is lower than the fixed rate :)

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  Tleyx on 08/08/2022 - 23:35

  $300 application fee and sign up bonus, give with the left take with the right. What BS dishonesty

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  UncleRico on 16/08/2022 - 20:25

  Split loans, offset and redraw available?

  Is 3.54% the baseline variable rate for anyone splitting?

  5 years at 4.79% is best in market at present. Interested if the other items tick the box…

  • 

    AssociatedMortgage Broker @ Lending Clinic on 17/08/2022 - 09:14

    Yes can split the loan, variable rates are listed on their website https://virginmoney.com.au/home-loans/compare-our-home-loans…, it depends on LVR & loan amount, and can potentially get slightly lower if your total debt is less than 6 times your income.
    The variable rate loan will have offset and redraw.
    The fixed rate loan won't.