A lender has announced a special deal in preparation for the busy spring selling season.
The campaign from Virgin Money includes a number of reduced interest rates, including a three-year fixed interest rate of 2.99%, as well as other lifestyle benefits such as receiving Velocity Frequent Flyer Points upon taking out a new home loan.
To be eligible for the deal, applications must be received between 2 September and 29 November 2019 and settled by 28 February 2020.
New customers who borrow between $300,000 and $999,999 will receive 100,000 bonus Velocity Points after settlement. Those who borrow more than $1m will receive 200,000 bonus points after settlement.
These bonus points are in addition to the reward points accrued on settlement, monthly and at regular anniversaries throughout the life of a customer’s home loan.
If an owner occupier making P&I repayments took out a Reward Me Home Loan for $500,000 with an LVR of less than 90%, they could lock in a three-year fixed interest rate of 2.99%. Over that three-year period, they would receive 252,000 Velocity points, enough for two return tickets from Sydney to LA.
Virgin Money’s home loans are offered through a network of more than 3,500 mortgage brokers.
