Virgin Money has announced changes for two of its principal and interest loan products, effective from 27 November. Of course, Virgin Money (Australia) Pty Limited promotes and distributes the companion account and the home loans as the authorised representative and credit representative of the issuer and credit provider, Bank of Queensland Limited.
More evidence of mortgage margin pressure.
Australian Broker says This will increase the rates of the lender’s special offer 3 year fixed rate loans for owner occupiers and special offer 2 year fixed rate loans for investors.
The changes below apply to new applications with LVR 90% or under received in Apply Online from 27 November for loans of $300,000 or more.
These changes will not affect loans in the pipeline if they were applied prior to 27 November. All these should have all supporting documentation within 24 hours of prior application to be eligible for these prior rates.
