Virgin Money has announced that they will be offering the same Investment Variable rates regardless of repayment type, meaning some very sharp interest only rates as low as 2.44%!
They are also currently offering a $3,000 Refinance Cashback until 31 January, & if you apply through Loan Base, you can qualify for up to a $1,000 Loan Base Cashback as well.
This means that you could move to a 2.44% pa variable rate, with interest only repayments, a 100% offset account, and a $4,000 total cashback - one of the best interest only deals on the market!
Headline Variable IO rates (OO or Investment):
- 2.44% (CPR 2.61%) up to 60% LVR
2.49% (CPR 2.66%) up to 80% LVR
For OOPI, Virgin's lowest rate currently 2.09% Variable (CPR 2.26%) for lending above $500k up to 80% LVR.
Other key details:
- 100% offset available
- $450 standard upfront fee
- $10 per month standard ongoing fee
- 4 business day SLA for PAYG or self-employed applicants (longer for other self-employed applicants)
$3,000 Virgin Money Refinance Cashback Requirements:
- Available for refinance applications only (no pre-approvals or purchases).
- Minimum loan amount of $300,000.
- Maximum LVR of 80%.
- Must apply by 31 January 2022.
- Must settle by 29 April 2022.
- New lending only (not available for internal refinances within the BOQ group, which includes Virgin Money).
Up to $1,000 Loan Base Additional Cashback Requirements:
- Additional Broker Cashback available on any refinance or purchase loan applications submitted through Loan Base until 31 January 2022.
- $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 +.
- Cashback will be paid over 2 years; with 50% paid at the 12 month settlement anniversary and 50% paid at the 24 month anniversary.
- Payment will not be made if the loan has been fully discharged before the respective anniversary date.
- Not available for applications refinancing existing Loan Base lending that is still within the current lender's clawback period (generally 2 years).
- 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).
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.
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.
Even the variable is going up now!