Virgin Money offers extended $3,000 refinancing cashback for both owner-occupied and investments.
OWNER OCCUPIED
Variable P&I - 2.64% p.a. comp rate 2.81% p.a.
Minimum loan balance $500k
2 years P&I - 1.94% p.a. comp rate 2.77% p.a.
3 years P&I - 1.98% p.a. comp rate 2.72% p.a.
4 years P&I - 2.29% p.a. comp rate 2.76% p.a.
5 years P&I - 2.29% p.a. comp rate 2.73% p.a.
Minimum loan balance $300k and for LVR 60.01% to 80%
INVESTMENT - Principal and Interest
Variable P&I - 2.74% p.a. comp rate 2.91% p.a.
Minimum loan balance $500k and for LVR 60.01% to 80%
2 years P&I - 2.39% p.a. comp rate 2.93% p.a.
3 years P&I - 2.39% p.a. comp rate 2.89% p.a.
4 years P&I - 2.69% p.a. comp rate 2.96% p.a.
5 years P&I - 2.69% p.a. comp rate 2.95% p.a.
Minimum loan balance $300k and for LVR 60.01% to 80%
INVESTMENT - Interest Only
Variable P&I - 2.99% p.a. comp rate 3.13% p.a.
Minimum loan balance $500k and for LVR 60.01% to 80%
2 years P&I - 2.59% p.a. comp rate 3.09% p.a.
3 years P&I - 2.59% p.a. comp rate 3.06% p.a.
4 years P&I - 2.69% p.a. comp rate 3.06% p.a.
5 years P&I - 2.69% p.a. comp rate 3.04% p.a.
Minimum loan balance $500k and for LVR 60.01% to 80%
Rates vary based on loan amount and LVR. Please let us know if you need more information.
Option to Split loan.
Virgin’s split home loan provides the best of both worlds of variable and fixed homeloans where you can:
1. Lock in some certainty: Know what your interest rate and repayments will be on your fixed loan for the full
1–5 year term.
2. Make additional repayments: Get ahead on your variable rate home loan with no cap on extra repayments
and no associated break costs.
3. Save interest with an offset: Keep funds in an offset facility to reduce the amount of interest you pay on your variable home loan balance.
Rate Lock
Please note that the advertised fixed home loan is not guaranteed until it is settled.
Virgin offers their customers to lock in a fixed rate for 0.15% of the loan amount. For example, it will cost $150 to lock in a fixed rate loan of $100,000. This fee is usually paid at time of T&C sign-up, as fee cannot be paid from loan proceeds. The fixed rate is locked in for a period of 100 days on all applicable single drawdown loans.
Business notes
Virgin's turnaround time for a new application is generally 1-2 weeks once an application is submitted. Urgent deal wouldn't be suitable and we can access other banks with similar features that have better turnaround time.
Virgin's Cashback Requirement
For all new refinance applications received between 29 May 2021 and 29 August 2021 (inclusive) and have their loan settled by 26 November 2021. Minimum loan amount $300,000 and up to 80% loan-to-value ratio.
You will need to open a Reward Me Home Loan Companion account alongside your loan, where the $3,000 cashback payment will be credited within 60 days of settlement.
Broker Rebate Terms and Conditions
We are offering a $500 upfront cashback for loan greater than $500k (excluding offset and redraw) for any fixed term loan of 2 years or more. $1,000 upfront cashback for loans $1M and above (excluding offset and redraw) for any fixed term loan of 2 years or more.
Maximum of 1 cashback per household (e.g. per couple).
Comparison Rates
Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $350,000 over a loan term of 30 years.
Other refinancing rebates available:
CBA - Get $2,000 cashback when you refinance until June 30, 2021 T&Cs apply.
St. George - Receive up to $4,000 cashback when you refinance until June 30, 2021. T&Cs apply.
ANZ - Get $3,000 cashback when you refinance your home loan until July 30, 2021 T&Cs apply.
Citibank - Get up to $4,000 cashback when you refinance your home loan until June 30, 2021 T&Cs apply.
How to Apply
Any advice is tailored to your financial situation. Our platform would simplify the lending process and our team will ensure that you are updated throughout the whole process.
For further details about this deal or other 35 lenders we work with, please contact directly via email or phone.
Other Important Information: Applications are subject to credit approval of the respective lender applied to. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change.
Contact me for a no obligation appointment.
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected] or [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/ or http://jamessimbroker.com.au
Australian Credit Licence number 387856
What loan amount for 3k?