Virgin Money unveils new home loan promotion

by Miklos Bolza20 Mar 2017
Virgin Money has announced a new home loan promotion offering new customers double frequent flyer points on settlement.

Those who apply for a Virgin Money Reward Me Home Loan between 14 March and 14 June and settle by 15 September will earn 20,000 Velocity Points for each $100,000 drawn on settlement.

“The inclusion of Velocity Points as a core component of our value proposition is an Australian market first and provides mortgage brokers with an exciting option for customers who want to balance their home ownership goals with other aspects of their lifestyle,” said Johnny Lockwood, general manager of lending, cards & deposits.

The Reward Me Home Loan also offers 1,000 Velocity Points each month for each loan account plus 30,000 bonus points every three years. The mortgage also comes with a variety of Virgin family perks, including a range of offers through other Virgin businesses in Australia.

“The mortgage market is becoming increasingly competitive and we know borrowers are seeking value for money,” Lockwood said.

“That’s why Virgin Money continues to offer some of the most competitive interest rates and fees in the market – to help our customers pay down their home loan faster while also rewarding them with Velocity Points throughout the life of their loan.”

Virgin Money is offering standard variable rates for owner-occupiers from 3.79% p.a. (at a comparison rate of 3.92% p.a.)

The Reward Me Loan is offered exclusively through the mortgage broking channel thanks to Virgin Money’s established partnerships with Plan, FAST, Connective and Aussie.

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Virgin Money doubles frequent flyer points for new home loans