Virgin Money has announced a raft of interest rate changes on its fixed and variable rate mortgage products.
Effective from today (7 July), Special Offer 2 year fixed and 3 year fixed rates will be available for new principal and interest, owner occupied and investment loans of more than $300,000 with LVRs of less than or equal to 90%.
For all Special Offer fixed rate loans, the interest rates are as follows:
Virgin Money will also be increasing its variable and fixed rates for new owner occupied loans for LVRs of over 90%. This change will also come into effect today (7 July) and will not affect applications with completed supported documents received prior to today.
Finally, Virgin Money will also be increasing its standard variable rates for owner occupied and investment interest online loans by 25 basis points, effective from 8 August.
The Virgin Money Interest Only Rate (Owner Occupied) will change to 4.89% p.a. while the Virgin Money Variable Investment Interest Only Rate (Investment) will become 5.19% p.a.
For new interest only customers, Virgin Money will be changing its rates as follows:
