Virgin Money doubles frequent flyer points for new home loans

by Julia Corderoy17 Aug 2016
Virgin Money Australia has doubled the number of Velocity frequent flyer points earned on all new home loan settlements.

All customers who apply for Virgin Money Reward Me Home Loans between 15 August 2016 and 21 October 2016, and settle by 28 February 2017, will earn 20,000 Velocity points for every $100,000 borrowed at settlement.

Virgin Money general manager of lending, cards and deposits, Johnny Lockwood said: “When we launched our Reward Me Home Loans, it was with a strong commitment to ensuring our customers feel valued and rewarded for choosing us.”

Virgin Money also recently decreased interest rates following the Reserve Bank’s cash rate cut. It’s lowest variable rate is now 3.69% for owner-occupiers, after it passed on the 0.25% rate cut in full.

“Having a home loan doesn’t mean that holiday dreams go on hold. Our competitive interest rates could mean out Reward Me customers pay down their home loans faster, while also allowing them to benefit by earning Velocity points that can be turned into flights, accommodation and more.” 

Virgin Money Australia has also announced the signing of a new partnership with FAST, after launching through PLAN brokers in May.

“Since our inception, we have worked hard to build strong relationships with multiple lenders to deliver a strong and diverse lending panel,” FAST CEO Brendan Wright said of the addition of Virgin Money to its panel of lenders.

"Well-known across the world for its novel approach and popular customer rewards program, we are excited to bring Virgin Money to our brokers.” 

Virgin Money accreditation sessions for FAST brokers are taking place this month.