Virgin Money Reward Me Fixed Rate Home Loan

Rates and Fees verified correct on December 11th, 2016

Get a competitive fixed rate from one to five years, and be rewarded with Virgin Velocity points with the Virgin Money Reward Me Fixed Rate Home Loan

The Virgin Money Reward Me Fixed Rate Home Loan gives borrowers the peace of mind of stable repayments, with fixed rates available from one to five years. It also offers borrowers the opportunity to lock in a competitive fixed rate for up to 100 days from the date of their application.

Interest Rate Max Insured LVR Max LVR
1 Year (Investor)
4.55% p.a.
Comparison Rate
4.27% p.a.
90% 80%
1 Year (Owner Occupier)
4.4% p.a.
Comparison Rate
3.98% p.a.
95% 80%
2 Years (Owner Occupier)
4.25% p.a.
Comparison Rate
4.01% p.a.
95% 80%
2 Years (Investor)
4.35% p.a.
Comparison Rate
4.27% p.a.
90% 80%
3 Years (Owner Occupier)
3.79% p.a.
Comparison Rate
3.92% p.a.
95% 80%
3 Years (Investor)
3.99% p.a.
Comparison Rate
4.20% p.a.
90% 80%
4 Years (Investor)
4.2% p.a.
Comparison Rate
4.26% p.a.
90% 80%
4 Years (Owner Occupier)
4.14% p.a.
Comparison Rate
4.04% p.a.
95% 80%
5 Years (Owner Occupier)
4.29% p.a.
Comparison Rate
4.13% p.a.
95% 80%
5 Years (Investor)
4.4% p.a.
Comparison Rate
4.35% p.a.
90% 80%
Product NameVirgin Reward Me Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Maximum LVR80%
Maximum Insured LVR90%
Loan Redraw FacilityYes
Split Loan FacilityYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$150

Pros

  • Earn Velocity Points
  • Lock in an interest rate and know your repayments won't change
  • No application fees
  • Offset account available

Cons

  • Monthly fee of $10
  • Settlement fee of $150

Things to consider about the Virgin Money Reward Me Fixed Rate Home Loan

The Virgin Money Reward Me Fixed Rate Home Loan is available to both owner-occupiers and investors, and offers one, two, three, four and five year fixed rate terms. At the end of the fixed rate period, the loan reverts to the current variable rate, minus a discount based on the overall amount borrowed and the loan-to-value ratio (LVR) at the time of approval.

The loan also rewards borrowers with Virgin Velocity points at settlement, monthly and every three years.

Features of the Virgin Money Reward Me Fixed Rate Home Loan

  • Additional repayments. The Virgin Money Reward Me Fixed Rate Home Loan allows borrowers to make up to $10,000 in extra repayments per year.
  • Offset account. The Virgin Money Reward Me Fixed Rate Home Loan comes with a Home Loan Companion Account that can be used as an offset account on the product’s one year fixed rate, and when the product reverts to a variable rate.
  • Rate lock. The Virgin Money Reward Me Fixed Rate Home Loan offers the option to lock in a rate at the time of application for up to 100 days.
  • Velocity points. The Virgin Money Reward Me Fixed Rate Home Loan rewards borrowers with Virgin Velocity Points on settlement, monthly and every three years.
  • No application fees. The Virgin Money Reward Me Fixed Rate Home Loan carries no application fees.
  • Split facility. The Virgin Money Reward Me Fixed Rate Home Loan enables borrowers to split their home loan into variable and fixed rate portions.

Fees

  • Settlement fee: $150. This fee is payable at settlement of the loan.
  • Monthly fee: $10. This monthly administrative fee is charged on each loan account on every repayment.
  • Rate lock fee: 0.15% of the fixed loan amount. This fee is payable if you elect to lock the interest rate on a fixed rate loan.

How to apply for the Virgin Money Reward Me Fixed Rate Home Loan

The Virgin Money Reward Me Fixed Rate Home Loan is only available through mortgage brokers. Contact your broker to apply. You’ll want to have your documents in order to make the application process smoother, so make sure you have:

  • Personal details. Your name, contact details and proof of ID will all be required.
  • Loan purpose. You’ll need to specify the amount you wish to borrow and how you will use the money.
  • Details of your income and assets. You will need to supply details about your employment, your earning capacity and any assets you own.
  • Details of your expenses. If you have outstanding debt, for example credit card debt or money you owe on a car loan, the lender will assess these factors when determining your repayment capability.
  • Property details. Virgin Money will also require information about the property you plan to buy.

The Virgin Money Reward Me Fixed Rate Home Loan offers a competitive fixed rate from one to five years, and rewards its customers with Virgin Velocity points. Compare it with other loans on finder.com.au to find out whether it’s the right option for you.

Virgin Money Reward Me Fixed Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 11 November 2016 at 13:16.

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Virgin Reward Me Fixed Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $10

  • Max LVR

    80%

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