Powered by MOMENTUM MEDIA
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.

Virgin Money raises IO rates for new loans

virgin money loan

virgin money loan
staff reporter 1 minute read

The challenger brand has announced that it has increased the variable interest rates for owner-occupiers and investors taking out a new Reward Me Home Loan with interest-only repayments.

Advertisement
Advertisement

PROMOTED FEATURES


>Effective from today (16 June), owner-occupiers borrowing between $75,000 and $499,999, with a loan-to-value ratio (LVR) of less or equal to 70 per cent, and making interest-only (IO) repayments on a new Reward Me Home Loan will pay 4.14 per cent per annum. This constitutes a 25 basis point increase.

A 25-basis point increase also applies to owner-occupier IO loans with the same LVRs for borrowings of between $500,000 and $749,000 (to 4.09 per cent), and for those borrowing more than $750,000 (to 4.04 per cent).

Investors taking out IO Reward Me Home Loans will, from today, be subject to the same level of rate hike.

Those borrowing between $75,000 and $499,999, with an LVR of less or equal to 80 per cent, will pay 4.44 per cent per annum, while investors with the same LVRs but paying between $500,000 and $749,999 will have repayments set at 4.39 per cent.

Investors borrowing more than $750,000 with an LVR of less or equal to 80 per cent will from today have repayments of 4.34 per cent per annum.

[Related: Lender launches frequent flyer offer for home loan customers]

Virgin Money raises IO rates for new loans
virgin money loan
TheAdviser logo
virgin money loan

 

more from the adviser
parliament Responsible lending laws to be scrapped

The federal government has revealed that it will move to overhaul...

Plenti team ta Plenti lists on the ASX

The non-bank lender has commenced trading on the ASX after succes...

fight boxing gloves Brokers maintain low level of AFCA complaints

Over 7,000 complaints relating to home loans were lodged with AFC...

FROM THE WEB