product logo

Reward Me Investment Loan (Principal and Interest) ($75k-$500k, LVR < 80%)

For any query, Call: 1300 001 153
RewardsEarn 10,000 Velocity points for every $100k drawn at settlement. Earn a further 1,000 velocity points every month. Earn a further 30,000 velocity points every three years. 
Compare

Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • 100% full offset account
  • Extra repayments + redraw services
  • Free redraw facility
  • Repayments may decrease if RBA cuts rates
Cons:
  • Discharge fee at end of loan
  • Repayments may increase if RBA raises rates

Fees and Features

Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$75k - $500k
Total repayments
Total repayments
$559,500
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
100% offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForInvestors
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$150.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$150
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$10 monthly
Discharge fee
Discharge fee
$320
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$75k - $500k
Total repayments
Total repayments
$559,500
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
100% offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForInvestors
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$150.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$150
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$10 monthly
Discharge fee
Discharge fee
$320
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Other Benefits
Velocity Points - at settlement, monthly and every 3 years
Other Restrictions
PAYG only
  • Rewards Earn 10,000 Velocity points for every $100k drawn at settlement. Earn a further 1,000 velocity points every month. Earn a further 30,000 velocity points every three years.
    Customers who apply and are approved for a Virgin Money Reward Me Home Loan, with an LVR of 90% or under, will earn 10,000 Velocity Points for every $100,000 drawn at settlement. Receive 1,000 Velocity Points every month for each loan account and 30,000 Velocity Points every 3 year anniversary provided total borrowings are greater than $50,000.

Virgin Money is a financial services company that was founded in 2003 by the Virgin Group and Macquarie Bank. The company was bought by the Bank of Queensland in 2013.

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. 

FAQs

Lender’s Mortgage Insurance (LMI) is an insurance policy, which protects your bank if you default on the loan (i.e. stop paying your loan). While the bank takes out the policy, you pay the premium. Generally you can ‘capitalise’ the premium – meaning that instead of paying it upfront in one hit, you roll it into the total amount you owe, and it becomes part of your regular mortgage repayments.

This additional cost is typically required when you have less than 20 per cent savings, or a loan with an LVR of 80 per cent or higher, and it can run into thousands of dollars. The policy is not transferrable, so if you sell and buy a new house with less than 20 per cent equity, then you’ll be required to foot the bill again, even if you borrow with the same lender.

Some lenders, such as the Commonwealth Bank, charge customers with a small deposit a Low Deposit Premium or LDP instead of LMI. The cost of the premium is included in your loan so you pay it off over time.

Details  
Compare your product with the big 4 banks, or add more products to compare
As seen on