Virgin Money has re-entered the Australian home loan market.
Virgin Money Australia is a financial services business that operates under the global Virgin brand.
Initially launching Virgin Money credit cards in 2003, the company added superannuation and home loans to its product suite in 2008.
Home loans offered by Virgin Money Australia
Virgin Money Australia offers fixed and variable rate home loans, both of which reward borrowers with Virgin Velocity Points.
Reward Me Variable Rate Home Loan
Virgin Money Australia's Reward Me Variable Rate Home Loan offers discounts for lower loan-to-value ratios (LVRs), and rewards borrowers with Virgin Velocity Points on settlement, monthly and every three years. It also allows unlimited additional repayments, and comes with a redraw facility and 100% offset account.
Reward Me Fixed Rate Home Loan
Virgin Money Australia's Reward Me Fixed Rate Home Loan is available for terms of one to five years. Like the Reward Me Variable Rate product, it rewards borrowers with Virgin Velocity Points on settlement, monthly and every three years. It also offers a rate lock for up to 100 days after application, the ability to make up to $10,000 per year in extra repayments and a 100% offset account on its one year fixed rate loan.
Why you might want to consider Virgin Money Australia
- Backed by a reputable local provider. Virgin Money offers mortgage products backed by Bank of Queensland. This means that Virgin Money Australia can access the resources and networks offered by BoQ.
- Diversity. Virgin Money Australia offers a range of financial products including home loans, insurance, superannuation and credit cards.
- Brand image. As part of the global Virgin network, Virgin Money Australia is a trusted and reputable brand.
How to apply for a Virgin Money Australia home loan
Virgin Money Australia's products are offered exclusively through mortgage brokers. Visit the Virgin Money Australia website to find the lender's panel of approved brokers.
Documents needed to apply for a Virgin Money Australia home loan
To apply for a Virgin Money Australia home loan you’ll need to supply the following information:
You’ll need to provide your personal details, including:
- Full name
- Contact information
- Proof of ID.
You may be required to supply information about the property you’re planning on purchasing with the home loan such as location and estimated value, as well as:
- Contract of sale
- Certificate of title
- Transfer of land documents
Virgin Money Australia may need information regarding your employment and income, including:
- Your credit history
- Your employment status
- Your income
- Any assets you own
- Any liabilities in your name and other ongoing expenses
Velocity membership details
If you are already a Virgin Velocity member, you'll need to provide Velocity Frequent Flyer Member Number.