Earn double Velocity Points with Virgin Money’s new home loan offer for first home buyers
04 Mar 2019
Virgin Money has announced a new offer which gives Aussie first home buyers the chance to earn double Velocity Frequent Flyer Points on their home loans.
With its hot new First Home Buyer Special offer, Virgin Money is giving first home buyers a leg up into the competitive Australian property market, offering 20,000 Velocity Points for every $100,000 drawn at settlement for loans with an LVR up to 90% and waiving the $150 settlement fee and home loan package fee.
The offer also features a special 2-year fixed rate of 3.68% p.a. (3.77% p.a. comparison rate) on owner-occupier, principal and interest home loans with an LVR of up to 90%, and a competitive revert rate of 3.69% p.a.
First home buyers can also receive a 20% discount on Lenders Mortgage Insurance on eligible loans with a minimum LVR between 80.01% to 90%
Plus, those borrowers who need an insurance policy to protect their new home can score a $100 gift card and an additional 10,000 Velocity Points when they purchase a Virgin Money (home, contents or home and contents) Insurance policy before settlement.
Related Article: Guide for first home buyers: What you need to know
After the fallout from the Royal Banking Commission, lenders have been tightening lending criteria, but according to Virgin Money, this loan aims to take the heat off of first home buyers by offering ongoing rewards points, so they can buy their first home without having to sacrifice it all.
“We want to help as many first home buyers as possible to join the property ladder, which is why we’re offering them such an exciting offer. Buying a home is a huge financial commitment for most Australians and can be a daunting process, especially when it’s your first time,” said Virgin Money’s General Manager, Lending, Cards & Deposits, Johnny Lockwood.
Related Article: 8 ways to boost your chances of loan approval
To cash in on this special offer you must be a first home buyer who is “eligible for the government First Home Owner Grant and/or First Home Buyer government stamp duty concessions.”
Be sure to get in quick though, as this is offer is only available for first home buyers who apply for a Virgin Money Reward Me Home Loan between the 4 March 2019 and 31 May 2019, and settle by 30 August 2019.
Check out the Virgin Money First Home Buyer Special offer, or take a look at some other first home buyer home loan offers in the table below.
First home buyer offers
Rates updated daily. Advertiser disclosure.
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Mozo experts choice awards won:
- Offset Home Loan - 2021
2.52% p.a. variable
2.55% p.a.
$1234
Product details Close details
Mozo experts choice awards won:
- Offset Home Loan - 2021
Well Balanced
Owner Occupier, Principal & Interest, LVR <90%
2.52% p.a. variable
2.55% p.a.
A great value low rate home loan for variable owner occupiers. Free extra repayments and free redraw facility. No ongoing fees. Option for a split account available. Up to 90% LVR. Winner of the Offset Home Loan Expert's Choice Award for 2021.
Well Balanced
A great value low rate home loan for variable owner occupiers. Free extra repayments and free redraw facility. No ongoing fees. Option for a split account available. Up to 90% LVR. Winner of the Offset Home Loan Expert's Choice Award for 2021.
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2.52% p.a. variable
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2.55% p.a.
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$785
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$0.00
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$300.00
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yes - free
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yes - free
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Optional - $10 per month
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$785
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90.00%
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$200,000
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$2,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Well Balanced
Details Close
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Mozo experts choice awards won:
- Offset Home Loan - 2021
2.87% p.a. variable
2.90% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Offset Home Loan - 2021
Well Balanced
Investor, Principal & Interest, LVR <90%
2.87% p.a. variable
2.90% p.a.
Low variable rate home loan for Investors up to 90% LVR with no ongoing fees, free extra repayments and redraw facilities. Winner of the Offset Home Loan Expert's Choice Award for 2021.
Well Balanced
Low variable rate home loan for Investors up to 90% LVR with no ongoing fees, free extra repayments and redraw facilities. Winner of the Offset Home Loan Expert's Choice Award for 2021.
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2.87% p.a. variable
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2.90% p.a.
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$785
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$0.00
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$300.00
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yes - free
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yes - free
-
Optional - $10 per month
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$785
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90.00%
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$200,000
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$2,000,000
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Variable
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Principal & Interest
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Investor
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Well Balanced
Details Close
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1.98% p.a. variable
2.15% p.a.
$1234
Product details Close detailsEconomy Variable Home Loan
Owner Occupier, Principal & Interest, <70% LVR, Debt to Income ratio <6
1.98% p.a. variable
2.15% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%. Refinance to BOQ by 31 January 2022 and get $3,000 cashback (T&Cs apply).
Economy Variable Home Loan
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%. Refinance to BOQ by 31 January 2022 and get $3,000 cashback (T&Cs apply).
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1.98% p.a. variable
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2.15% p.a.
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$450
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$10.00 monthly
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$350.00
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yes - free
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yes - free
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no
-
$450
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70.00%
-
-
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 January 2022, settle by 29 April 2022.
Read our Mozo Review to learn more about the Economy Variable Home Loan
Details Close
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-
Mozo experts choice awards won:
- Fixed Rate Home Loan - 2021
2.59% p.a.
fixed 2 years3.17% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Fixed Rate Home Loan - 2021
Discount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
2.59% p.a.
fixed 2 years3.17% p.a.
Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 31 January 2022 and get $3,000 cashback (T&Cs apply).
Discount Fixed Rate
Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 31 January 2022 and get $3,000 cashback (T&Cs apply).
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2.59% p.a.
fixed 2 years -
3.17% p.a.
-
$450
-
$10.00 monthly
-
$350.00
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yes - free up to $5,000 p.a
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no
-
no
-
$450
-
80.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 January 2022, settle by 29 April 2022.
Read our Mozo Review to learn more about the Discount Fixed Rate
Details Close
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Mozo experts choice awards won:
- Low Cost Home Loan - 2021
1.99% p.a. variable
2.02% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Low Cost Home Loan - 2021
Variable Home Loan Special
Owner Occupier, Principal & Interest, LVR <80%
1.99% p.a. variable
2.02% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 31st January 2022. Low Cost Home Loan winner in the Mozo's Experts Choice award 2021.
Variable Home Loan Special
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 31st January 2022. Low Cost Home Loan winner in the Mozo's Experts Choice award 2021.
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1.99% p.a. variable
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2.02% p.a.
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$530
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$0.00
-
$500.00
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yes - free
-
yes - free
-
Optional - $10 per month
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$530
-
80.00%
-
$150,000
-
$5,000,000
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Variable
-
Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
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Special rate applies to home loan applications submitted by 31 January 2022.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
^See information about the Mozo Experts Choice Home loans Awards
