Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Lender to lift investor rates on Friday

virgin x virgin x
James Mitchell 4 minute read

A non-major lender has announced rate changes across its fixed and variable rate home loans for owner-occupiers and investors.

Virgin Money has announced that effective Friday 6 January it will make changes to the interest rate of its Reward Me Home Loan.

Its 1 year fixed rate for owner-occupiers will fall by 16 basis points from 4.40 per cent to 4.24 per cent while its 2 year fixed rate will fall by 26 basis points to 3.99 per cent.

However, Virgin Money’s 3, 4 and 5 year fixed rates for owner occupiers will all increase by 20 basis points.

Advertisement
Advertisement

For investors, 1 year fixed rates will fall by 21 basis points to 4.34 per cent while 2 year fixed rates will fall by 30 basis points from 4.35 per cent to 4.05 per cent.

There is no change to Virgin Money’s 3.99 per cent 3 year fixed rate for investors. However, 4 and 5 year fixed rates will increase by 24 and 19 basis points, respectively.

Variable rates for owner-occupiers will increase by 10 basis points to 4.64 per cent. Investors will also be hit with a 10-basis point rate hike, lifting the variable rate from 4.84 per cent to 4.94 per cent.

[Related: Brokers divided on rate outlook]

Lender to lift investor rates on Friday
virgin x
TheAdviser logo

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

PROMOTED CONTENT


virgin x
James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

 

more from the adviser
tech tools

Breaking News

FICO launches new loan-origination platform

The US analytics company has launched a new digital loan originat...

Liberty A League partnership ta

Breaking News

Liberty scores A-League Women’s football naming partnership

The non-bank lender has become the official naming partner of the...

house sold

Breaking News

Hot Property: The biggest property headlines from the week 29 November - 3 December

The weekly round-up of the biggest news stories from across Momen...