Reward Me Home Loan Fixed ($300k+) (Principal and Interest) 1 Year (LVR 90%-95%)
Cashback$2500 cashback when you refinance. Minimum loan size $300k, LVR up to 80%
- Last updated on 02 Jun 2020
Smart Home Loan
specialGet one of the lowest variable interest rates on the market and pay no application or ongoing fees
Get one of the lowest variable interest rates on the market
Smart Home Loan
Fixed - 1 year
based on $300,000 loan amount for 25 years
- 100% full offset account
- Suitable for low deposits
- Repayments will not change during fixed period
- Limited extra repayments
- Discharge fee at end of loan
- Repayments won't decrease if RBA cuts rates
Interest rate structure
Fixed - 1 year
$300k - $100m
Principal & interest
Loan term range
1 - 30 years
100% offset account
Allowed with restrictions
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
- Cashback $2500 cashback when you refinance. Minimum loan size $300k, LVR up to 80%For all new refinance applications received between 18 May 2020 and 28 August 2020, and have their loan settled by 30 October 2020.Minimum loan amount $300,000 and up to 80% loan-to-value ratio. You will need to open a Reward Me Home Loan Companion account alongside your loan, where the $2,500 cashback payment will be credited within 60 days of settlement.
Velocity Points on settlement, monthly, every 3 years
Compare and review home loans with similar features
Virgin Money has a head office in Sydney and offers a range of financial products and services, including credit cards, superannuation, home loans, insurance and savings account.
Virgin Money Home Loan Calculator
Interested in an Virgin Money home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Virgin Money compares to its competitors. Simply plug in your borrowing amount below.
If we can’t beat your current home loan rate, you can claim your $100 gift card by confirming your home loan details with us.*
To do this, on your results page you’ll need to securely upload a home loan document or statement from your lender that can be used to confirm the home loan details you provided. This should outline the following information:
- Loan term
- Loan type (fixed / variable)
- Payment type (principal and interest / interest only)
- Loan purpose (owner / investor)
- Property value
- Date of loan commencement
- Any special conditions
We’ll keep your information private and confidential and only use your document to confirm your entry.
A loan-to-value ratio (otherwise known as a Loan to Valuation Ratio or LVR), is a calculation lenders make to work out the value of your loan versus the value of your property, expressed as a percentage. Lenders use this calculation to help assess your suitability for a home loan, and whether you need to pay lender’s mortgage insurance (LMI). As a general rule, most banks will require you to pay LMI if your loan-to-value ratio is 80 per cent or more. LVR is worked out by dividing the loan amount by the value of the property. If you are looking for a quick ball-park estimate of LVR, the size of your deposit is a good indicator as it is directly proportionate to your LVR. For instance, a loan with an LVR of 80 per cent requires a deposit of 20 per cent, while a 90 per cent LVR requires 10 per cent down payment.
LOAN AMOUNT / PROPERTY VALUE = LVR%
While this all sounds simple enough, it is worth doing a more accurate calculation of LVR before you commit to buying a place as there are some traps to be aware of. Firstly, the ‘loan amount’ is the price you paid for the property plus additional costs such as stamp duty and legal fees, minus your deposit amount. Secondly, the ‘property value’ is determined by your lender’s valuation of the property, not the price you paid for it, and sometimes these can differ so where possible, try and get your bank to evaluate the property before you put in an offer.