5.6 / 10

based on 274 reviews as rated by Mozo community

Virgin Money home loans

Virgin Money is an Australian financial services business, which operates under the well-known Virgin brand. Virgin Money is taking a stand against banking jargon and tricky contracts, by bringing customers transparent, easy to understand home loan offers

Virgin Money is even an award winner, having taken out a 2019 Mozo Experts Choice Award for best Investor Fixed Home Loan. 

Check out their range of home loans for both investors and owner occupiers in the tables below.

What home loans do Virgin Money offer?

Rates and fees verified as correct at 24 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

When you take out a fixed rate home loan from Virgin Money, there are a number of different rate tiers, depending on both your LVR and how much you want to borrow. LVRs range up to 95%. You’ll also be able to make fee free extra repayments up to $10,000 p.a., and if you choose a 1 year fixed term, you’ll have the use of an offset account. Remember that there are both upfront and monthly fees to consider - but the good news is, you can also earn velocity points on your home loan.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.89% p.a.

3.85% p.a.

$10.00 monthly

$450

3.89% p.a.

3.81% p.a.

$10.00 monthly

$450

3.89% p.a.

3.78% p.a.

$10.00 monthly

$450

3.09% p.a.

3.46% p.a.

$10.00 monthly

$450

3.09% p.a.

3.42% p.a.

$10.00 monthly

$450

3.09% p.a.

3.39% p.a.

$10.00 monthly

$450

2.79% p.a.

4.29% p.a.

$10.00 monthly

$450

2.79% p.a.

4.29% p.a.

$10.00 monthly

$450

2.79% p.a.

4.29% p.a.

$10.00 monthly

$450

3.09% p.a.

3.03% p.a.

$10.00 monthly

$450

3.09% p.a.

2.96% p.a.

$10.00 monthly

$450

3.09% p.a.

2.96% p.a.

$10.00 monthly

$450

2.29% p.a.

2.83% p.a.

$10.00 monthly

$450

3.49% p.a.

3.65% p.a.

$10.00 monthly

$450

3.49% p.a.

3.61% p.a.

$10.00 monthly

$450

3.49% p.a.

3.61% p.a.

$10.00 monthly

$450

3.49% p.a.

3.87% p.a.

$10.00 monthly

$450

3.49% p.a.

3.83% p.a.

$10.00 monthly

$450

3.49% p.a.

3.80% p.a.

$10.00 monthly

$450

3.14% p.a.

3.53% p.a.

$10.00 monthly

$450

3.14% p.a.

3.53% p.a.

$10.00 monthly

$450

3.14% p.a.

3.45% p.a.

$10.00 monthly

$450

3.14% p.a.

3.45% p.a.

$10.00 monthly

$450

3.14% p.a.

3.38% p.a.

$10.00 monthly

$450

3.14% p.a.

3.34% p.a.

$10.00 monthly

$450

2.99% p.a.

3.38% p.a.

$10.00 monthly

$450

2.69% p.a.

3.34% p.a.

$10.00 monthly

$450

Variable Rate Home Loans

Like the fixed rate alternative, different loan amounts and LVRs will attract different interest rates on your variable rate Virgin Money home loan. You’ll be able to borrow up to 95% of the property’s value, depending on which offer you choose. In terms of features, you can make unlimited fee-free extra repayments and free redraws (minimum applies) as well as use an offset account to keep costs low. And remember with this home loan you also have the chance to cash in on velocity points. Just keep in mind there are monthly and upfront fees to budget for.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.62% p.a.

3.78% p.a.

$10.00 monthly

$450

3.57% p.a.

3.73% p.a.

$10.00 monthly

$450

3.52% p.a.

3.68% p.a.

$10.00 monthly

$450

2.79% p.a.

2.96% p.a.

$10.00 monthly

$450

2.69% p.a.

2.86% p.a.

$10.00 monthly

$450

2.69% p.a.

2.86% p.a.

$10.00 monthly

$450

3.37% p.a.

3.53% p.a.

$10.00 monthly

$450

3.32% p.a.

3.48% p.a.

$10.00 monthly

$450

3.27% p.a.

3.43% p.a.

$10.00 monthly

$450

4.62% p.a.

4.77% p.a.

$10.00 monthly

$450

4.62% p.a.

4.77% p.a.

$10.00 monthly

$450

4.62% p.a.

4.77% p.a.

$10.00 monthly

$450

2.64% p.a.

2.81% p.a.

$10.00 monthly

$450

2.55% p.a.

2.72% p.a.

$10.00 monthly

$450

2.55% p.a.

2.72% p.a.

$10.00 monthly

$450

3.49% p.a.

3.65% p.a.

$10.00 monthly

$450

3.44% p.a.

3.60% p.a.

$10.00 monthly

$450

3.44% p.a.

3.60% p.a.

$10.00 monthly

$450

3.79% p.a.

3.95% p.a.

$10.00 monthly

$450

3.74% p.a.

3.90% p.a.

$10.00 monthly

$450

3.69% p.a.

3.85% p.a.

$10.00 monthly

$450

3.44% p.a.

3.60% p.a.

$10.00 monthly

$450

3.44% p.a.

3.60% p.a.

$10.00 monthly

$450

3.34% p.a.

3.50% p.a.

$10.00 monthly

$450

3.34% p.a.

3.50% p.a.

$10.00 monthly

$450

3.24% p.a.

3.40% p.a.

$10.00 monthly

$450

3.19% p.a.

3.35% p.a.

$10.00 monthly

$450

*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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Virgin Money home loan features in a glance

Free icon

Free extra repayments

Pay off your home loan quicker by making fee-free extra repayments. Just remember, that while these are unlimited on variable rate options, additional repayments are capped at a value of $10,000 p.a. on fixed rate options.

Image of coins

Velocity points

Love your rewards points? With a home loan from Virgin Money you can earn 10,000 Velocity Points for every $100,000 drawn at settlement, 1,000 points every month and 30,000 every 3 years for long as your loan balance remains above $50,000.

Repayment Icon

Flexible repayment schedule

Your repayments can be monthly, fortnightly or weekly - whatever suits your budget.

How are Virgin Money home loans rated?

Mozo users have rated Virgin Money home loan on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Virgin Money home loans
Overall
6.7/10
Price
Features
Customer service
Convenience
Trust
10 reviews

Recent Virgin Money home loan reviews

Virgin Money Reward Me Variable Rate Home Loan review
Overall 4/10
Interest rates good but response is slow.

When contacting about home loan they are slow to respond. Online access does not show interest rate and when contacting them by phone it takes weeks to get a response via email. Virgin has not been able to provide a debit card to access our savings. Instead if we need cash we have to transfer to an account we have with another bank and then withdraw from that bank. Credit card transactions are slow. They show as pending for days before appearing properly, only primary card holder can see all credit transactions. With online access other card holders can only see their own transactions and not all.

Read full review

When contacting about home loan they are slow to respond. Online access does not show interest rate and when contacting them by phone it takes weeks to get a response via email. Virgin has not been able to provide a debit card to access our savings. Instead if we need cash we have to transfer to an account we have with another bank and then withdraw from that bank. Credit card transactions are slow. They show as pending for days before appearing properly, only primary card holder can see all credit transactions. With online access other card holders can only see their own transactions and not all.

Price
5/10
Features
6/10
Customer service
6/10
Convenience
3/10
Trust
6/10
Less
Michelle, Queensland reviewed about 1 month ago
Virgin Money Reward Me Variable Rate Home Loan review
Overall 4/10
Not competitive enough.

Rates aren't competitive enough, I need to change providers soon.

Read full review

Rates aren't competitive enough, I need to change providers soon.

Price
4/10
Features
4/10
Customer service
4/10
Convenience
4/10
Trust
4/10
Less
Hoi, Queensland reviewed 4 months ago
Virgin Money Reward Me Fixed Rate Home Loan review
Overall 9/10
Great customer service.

I received an excellent rate however had to push to get it. Customer service is excellent however the online banking system could be improved as I can’t change things without having to call and speak to someone for example.

Read full review

I received an excellent rate however had to push to get it. Customer service is excellent however the online banking system could be improved as I can’t change things without having to call and speak to someone for example.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
8/10
Trust
9/10
Less
Jess, Victoria reviewed 12 months ago
Virgin Money Home Loan review
Overall 9/10
Pretty stoked

Can't go wrong with Richard looking after my investments.

Read full review

Can't go wrong with Richard looking after my investments.

Price
9/10
Features
9/10
Customer service
9/10
Convenience
5/10
Trust
10/10
Less
Karen, reviewed almost 6 years ago
Virgin Money Home Loan review
Overall 9/10
Competitive rates; easy to use online access

They offer very competitive interest rates and fees; easy to use online systems; better than other banks with information and over the phone assistance. Have never had anything that I can complain about with Virgin Money in over seven years of being with them.

Read full review

They offer very competitive interest rates and fees; easy to use online systems; better than other banks with information and over the phone assistance. Have never had anything that I can complain about with Virgin Money in over seven years of being with them.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Debbie, Queensland reviewed over 7 years ago

What do you need to apply for a Virgin Money home loan?

You can apply for a Virgin Money home loan via a broker on their website. For this, you’ll just need your personal contact details, but when you actually fill out the loan application, here are a few things you might need:

  • I.D. - your passport or driver's licence is a good bet
  • Employment details, including proof of salary
  • Living expense details
  • Details of your assets including, savings shares or property
  • Details of debts, including other loans, overdrafts, or credit cards

Home loan quick links