Virgin Money Home Loans interest rate announcement

Virgin Money cuts 2 and 3 year fixed rates to all-time low

Virgin Money today announced a range of fixed interest rate reductions, including an all-time low 2 and 3 year fixed rate of 2.04 per cent, per annum.

Effective Friday, 13 November 2020:

  • 2 year and 3 year fixed rates will be reduced to:
  • 2.04 per cent, per annum, for new owner occupied principal and interest lending;
  • 2.39 per cent, per annum, for new investor principal and interest lending; and
  • 2.59 per cent, per annum, for new investor interest only lending.
  • 4 year and 5 year fixed rates will be reduced to 2.29 per cent, per annum, for new owner occupied principal and interest lending.

Virgin Money’s CEO, Mr Greg Boyle, said: “We’re focused on helping more Australians take advantage of today’s record low interest rate environment to achieve their home buying or property investment goals sooner.

We know this is an uncertain time, so we want to give our customers the option of locking in a competitive fixed rate that will enable them to plan their budget with confidence, understanding what their repayments will be for at least the first few years of their loan.”

As well as great rates, eligible customers who apply for a new owner occupied Virgin Money Reward Me Home Loan with principal and interest repayments before Sunday, 29 November 2020 can knock thousands of dollars off the total cost of their loan, thanks to Virgin Money’s $0 Lenders Mortgage Insurance offer.

And for customers looking to refinance, Virgin Money is offering $3000 cash back on eligible applications submitted by Sunday, 29 November 2020.

“When Australians choose to partner with Virgin Money on their home buying journey, we take that seriously and want to ensure they’re rewarded right from the start of their relationship with us. It’s all part of our commitment to creating bigger possibilities for our customers,” Mr Boyle said.

Virgin Money will also reduce variable rates for new owner occupied and investor lending, effective Friday, 13 November 2020. Visit our rates & fees page for all the latest rates.