
Virgin Money helps first home buyers realise the possibility of owning their own home
With the increasing difficultly for Australians to jump onto the property ladder, Virgin Money today announced its special offer for first home buyers aimed at giving them a head start.
The offer is available for first home buyers who apply for a Virgin Money Reward Me Home Loan, between 4 March and 31 May 2019 and settle by 30 August 2019.
The details of the first home Buyer1 offer are:
- Special 2-year Fixed rate of 3.68% p.a. (comparison rate# 3.77% p.a.) on Owner Occupier Principal and Interest home loans with an LVR of up to 90%2
- $150 settlement fee is waived and there is no home loan package fee
- 20% discount on Lenders Mortgage Insurance3 on eligible loans with a base LVR between 80.01% - 90%
- Double Velocity Frequent Flyer Points4 - 20,000 Velocity Points for every $100,000 drawn at settlement, for loans up to 90% LVR5
- A $100 gift card6 and an additional 10,000 Velocity Points7 when they purchase a Virgin Money Home and/or Contents Insurance policy before settlement
Virgin Money’s Reward Me Home Loan is one of the only home loans in the market to offer ongoing rewards points for the life of the loan, an attractive offer for first home buyers who are worried that home ownership might mean the end of lifestyle benefits like travel and dining out.
In addition to double Velocity Points at settlement, customers will enjoy 1,000 Velocity Points every month for each loan split, plus 30,000 bonus Points every three years. By way of example, on a $500,000 mortgage, first home buyers could earn 304,000 Points over 6 years8 - enough Velocity Points for a yearly return trip to Fiji (from Brisbane) for the next 8 years.
Virgin Money’s General Manager, Lending, Cards & Deposits, Johnny Lockwood said
“We want to help as many first home buyers as possible to join the property ladder, which is why we’re offering them such an exciting offer. Buying a home is a huge financial commitment for most Australians and can be a daunting process, especially when it’s your first time. The dedicated first home buyer section on our website offers tools, calculators and tips to help make the whole process a little easier.”
Virgin Money’s home loans are currently offered by over 3,500 mortgage brokers in partnerships with PLAN, FAST, Connective, Aussie, Choice and AFG. Virgin Money also takes applications over the phone for borrowers who prefer to deal directly.
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