A home loan and a trip away? Virgin Money are offering both with new 200,000 Velocity Points offer

Spring has finally arrived and with it, the 2019 spring property season! And if the latest sentiment is anything to go by, home hunters are hitting the market again - especially in Sydney and Melbourne. 

It’s not just home buyers gearing up for the Spring property season though, as lenders tweak home loan rates and launch new offers to entice borrowers in a mortgage market which has become increasingly competitive for borrowers thanks to consecutive RBA rate cuts.  

To mark the start of spring, Virgin Money have already hit the ground running with a brand new bonus Velocity Frequent Flyer Points offer for borrowers. 

RELATED: Record low rates fuel bank comparison boom

New customers who apply for a Virgin Money Reward Me Home Loan before November 29, 2019 may be eligible to receive hundreds of thousands of bonus Velocity Points - enough for an international flight for two. 

The number of points on offer is dependent on the amount borrowers take out though with: 

- 100,000 bonus Velocity Points on offer to new customers who take out a loan between  $300,000 and $999,999

- and 200,000 bonus Velocity Points on offer to new customers who take out a loan over  $1,000,000

The extra sweetener comes on top of Virgin Money’s existing offer which allows eligible borrowers with a Reward Me Home Loan to earn Velocity Points at settlement, on a monthly basis and at regular anniversaries throughout the life of their loan.        

So just how far could these bonus velocity points take you?       

According to Virgin an owner occupier borrower taking out a $500,000 Reward Me Home Loan - which has a 2.99% fixed rate (3.42% comparison rate*) for three years with an LVR below 90% -  could accrue 252,000 Velocity Points over that three year period. 

That would be enough points for two return tickets from Sydney to Los Angeles flying on an economy rewards seat, without taxes and other fees.   

RELATED: Auction clearances on the rise: what it means for Aussie home buyers

Virgin Money aren’t alone in offering some seriously competitive rates for borrowers this spring though. Check out the red hot deals on offer below, or read our full review of the Reward Me Home Loan for even more information about Virgin’s loan. 

Hot variable rate home loan offers - last updated 26 May 2024

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 2 years
    6.14% p.a.

    Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee.

    Compare
    Details
  • Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    6.25% p.a.
    fixed 3 years
    6.20% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    Compare
    Details
  • Mozo Expert Choice Badge
    Fixed Express Home Loan

    Owner Occupier, Interest Only

    interest rate
    comparison rate
    Initial monthly repayment
    6.49% p.a.
    fixed 2 years
    6.39% p.a.

    Compare
    Details
  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.41% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 20% deposit required.

    Compare
    Details

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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