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

Tom Watson

03 Sep 2019

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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

Rates updated daily. Advertiser disclosure.

  • Macquarie

    2.09% p.a.
    fixed 3 years

    2.32% p.a.

    $1234

    Product details Close details
    Basic Home Loan

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

    2.09% p.a.
    fixed 3 years

    2.32% 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.

    Basic Home Loan

    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.

    • 2.09% p.a.
      fixed 3 years

    • 2.32% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • $0

    • 70.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Basic Home Loan

    Details Close

  • Athena

    2.29% p.a.
    fixed 2 years

    2.04% p.a.

    $1234

    Product details Close details
    Fixed Home loan

    <60% LVR, Owner Occupier, Principal and Interest

    2.29% p.a.
    fixed 2 years

    2.04% p.a.

    No application, ongoing fees or exit fees. Free extra repayments. The higher your deposit, the lower your rate. Flexible repayment options. For loans up to $2,000,000.

    Fixed Home loan

    No application, ongoing fees or exit fees. Free extra repayments. The higher your deposit, the lower your rate. Flexible repayment options. For loans up to $2,000,000.

    • 2.29% p.a.
      fixed 2 years

    • 2.04% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 60.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Home loan

    Details Close

  • HSBC

    2.09% p.a.
    fixed 3 years

    2.87% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Home Loan Package

    Owner Occupier, Principal & Interest, LVR <80%

    2.09% p.a.
    fixed 3 years

    2.87% p.a.

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    Fixed Rate Home Loan Home Loan Package

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    • 2.09% p.a.
      fixed 3 years

    • 2.87% p.a.

    • $270

    • $390.00 yearly

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $270

    • 80.00%

    • $500,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Receive $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 31 December 2021 and settle by 28 February 2022.

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

    Details Close

  • Newcastle Permanent

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    $1234

    Product details Close details
    Special Fixed Rate Home Loan Premium Plus Package

    Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.

    Special Fixed Rate Home Loan Premium Plus Package

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.

    • 1.89% p.a.
      fixed 2 years

    • 3.67% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • $0

    • 80.00%

    • -

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback when you refinance your home loan from another financial institution when you apply by 17 December 2021 and are funded by 28 February 2022, min $250k, LVR <80%

    Read our Mozo Review to learn more about the Special Fixed Rate Home Loan

    Details Close

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