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- Reward Me Variable Rate Home Loan
Reward Me Variable Rate Home Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
6.44%
Comparison rate* p.a.
6.58%
Reward Me Variable Rate Home Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
6.44%
Comparison rate* p.a.
6.58%
Virgin Money Variable Rate Home Loan overview
For Reward Me Home Loan (Principal and Interest) ($750k+, LVR < 60%)
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
60%
Total repayments
Interest rate type
Variable
Borrowing range
$750k - $100m
Suitable for
Owner Occupiers
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
Unlimited
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Velocity Points at Settlement, Monthly and 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 customers only
Pros and Cons
For Reward Me Variable Rate Home Loan
Benefits
- Interest rates ranked in the best 20%
- 100% full offset account
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- 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
