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- Reward Me Fixed Rate Investment Loan
Reward Me Fixed Rate Investment Loan
- Investor
- Fixed 3 years
- 40% min deposit
- P&I
Interest rate p.a.
6.59%
Comparison rate* p.a.
6.73%
Reward Me Fixed Rate Investment Loan
- Investor
- Fixed 3 years
- 40% min deposit
- P&I
Interest rate p.a.
6.59%
Comparison rate* p.a.
6.73%
Virgin Money Fixed - 3 years Rate Home Loan overview
For Reward Me Investment Loan Fixed (Principal and Interest) 3 Years (LVR < 60%) (New Customer)
No owner occupier products available
Details
Maximum LVR
60%
Total repayments
Interest rate type
Fixed - 3 years
Borrowing range
$300k - $100m
Suitable for
Investors
Loan term range
1 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Virgin Money (Australia) Pty Limited to view Target Market Determination.
Features
Extra repayments
Allowed with restrictions
Redraw facility
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Velocity Points on settlement, monthly, every 3 years
Fees
Total estimated upfront fees
$450
Application fee
$300
Legal fee
$0
Valuation fee
$0
Settlement fee
$150
Other upfront fee
$0
Ongoing fee
$10
Discharge fee
$350
Other Restrictions
PAYG only, new loans of $300,000 or more
Pros and Cons
For Reward Me Fixed Rate Investment Loan
Benefits
- Interest rates ranked in the best 20%
- Split account option
Drawbacks
- Limited extra repayments
- No redraw and no offset
- Loan reverts to higher rate after fixed period
- Ongoing fee
- Higher than average upfront fee
- Discharge fee at end of loan
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
