Virgin Money has announced a new partnership with Choice Aggregation Services, continuing its broker-centric approach to home loans.
“One hundred per cent of our home loans are sold through mortgage brokers, so our strategy is very much to continue working closely with our broking partners. We’re excited to be partnering with Choice Aggregation in the next phase of Virgin Money’s expansion,” said Virgin Money CEO Greg Boyle.
Choice Aggregation CEO
Stephen Moore said the aggregator was pleased to be adding Virgin Money to its panel.
“Following our evaluation, we were impressed with the quality of this business. The Virgin Money brand resonates strongly with Australians and we have had significant interest from Choice members.”
Since its launch in May 2016, Virgin Money has accredited more than 3,000 mortgage brokers and has a team of six business development managers nationally. Boyle said the business will recruit a further two BDMs to coincide with the addition of Choice to its aggregation panel.
The Reward Me Home Loan features both fixed and variable rate loans with a price point starting at 3.79% p.a. (3.92% p.a. comparison rate). The home loan also offers 10,000 Velocity Frequent Flyer Points for every $100,000 borrowed at settlement, plus 1,000 Points every month for each loan split and 30,000 bonus Points every three years.
Boyle said Virgin Money has received positive feedback from mortgage brokers nationwide.
“The feedback we’re getting from brokers around the country has been valuable and is very consistent. There is clearly a strong brand awareness and a great deal of interest from borrowers who are open to our challenger brand and unique proposition, so that’s fantastic. As well as some important views on how we can improve and better support mortgage brokers and their customers going forward.”
With the Reward Me Home Loan currently offered to PAYG borrowers, Virgin Money is working on a series of product enhancements that include lending for construction, guarantors and some self-employed.
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