A non-bank lender has announced that its new partnership with a mortgage aggregator went live last month, bringing its home loan offerings to a network with an even wider reach.
Virgin Money joined the panel of 30 lenders at National Mortgage Brokers (nMB).
Gerald Foley, nMB managing director, said: “Virgin Money brings us not only a well-known and respected brand, but the strength of its products and service offering. It’s great that our broker network can now access these.”
In recent months, Virgin Money has expanded its BDM team, launched a sales support team, and introduced digital acceptance for home loan documents to improve turnaround times.
Chief executive at Virgin Money, Greg Boyle, expressed excitement at the new arrangement, saying that the brand “remains committed to supporting choice for home buyers through a competitive and sustainable mortgage broking industry in Australia.”
In order to help first home buyers (FHBs) facing decreasing affordability and tightened lending conditions, Virgin Money is offering a 2-year fixed rate of 3.68% p.a. on owner occupier P&I home loans with an LVR up to 90%. Eligible FHBs will also be given a 20% discount on lenders mortgage insurance and the $150 settlement fee will be waived.
“We are committed to helping FHBs achieve their home ownership dreams sooner. We will continue to listen to the feedback from our broker partners and enhance our offering for our customers,” said Christian York, head of distribution at Virgin Money.
The lender also has an offer which grants customers with eligible home loans with an LVR of 90% and below 20,000 Velocity Frequent Flyer Points for every $100,0000 drawn at settlement.
Since its launch three years ago, Virgin Money’s home loan portfolio has grown to more than $2bn and is distributed nationally through over 3,500 accredited mortgage brokers. Virgin Money is also partnered with Aussie Home Loans, Connective, Choice Aggregation and AFG, among others.