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Virgin Money cuts variable home loan rates

Virgin Money today announced it is cutting its variable home loan interest rates, effective Friday, 3 April 2020:

  • The Standard Variable Rate for Investor (Principal & Interest) and Investor (Interest Only) loans will decrease by 0.25 per cent, per annum.
  • The Standard Variable Rate for Owner Occupier (Principal & Interest) and Owner Occupier (Interest Only) loans will decrease by 0.17 per cent, per annum; and

Virgin Money’s CEO, Greg Boyle said: “This is a difficult time for many Australians. We want to help by supporting our home lending customers to pay down their debt, while taking into account the challenges depositors are facing in today’s low interest rate environment.”

“We’re committed to ensuring Virgin Money’s Reward Me Home Loans continue to offer customers great value and provide them with the opportunity to earn Velocity Frequent Flyer Points upfront, every month and on anniversaries,” said Mr Boyle.