Virgin Money Virgin 3 or 5 Year Fixed Low Doc
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Moneybuddy says
The Virgin Fixed Rate Low Doc is the loan which helps self employed people more often than not, if you don't have the kind of paperwork the banks normally demand. The interest rate is higher initially, but drops over time to meet the standard variable. Enjoy a repayment holiday and no ongoing monthly fees. A rewards program and split the loan for the best of both worlds, and take your loan with you when you buy another property.
The Basics
Interest type -
Headline interest rate p.a. -
Max LVR -
Annual fee -
The cool stuff: features
Draw down loan progressively No
Insurance details -
Loan is Transferable Yes
Line of credit available No
Product suits -
The Facts & Figures
Introductory rate p.a. -
Introductory term -
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Interest rate (p.a.) 2 years -
Interest rate (p.a.) 3 years -
Interest rate (p.a.) 4 years -
Interest rate (p.a.) 5 years -
Interest rate (p.a.) 7 years -
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Interest rate (p.a.) 15 years -
Comparison rate (p.a.) 1 year -
Comparison rate (p.a.) 2 years -
Comparison rate (p.a.) 3 years -
Comparison rate (p.a.) 4 years -
Comparison rate (p.a.) 5 years -
Comparison rate (p.a.) 7 years -
Comparison rate (p.a.) 10 years -
Comparison rate (p.a.) 15 years -
Comparison rate p.a. -
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Early repayments No
Redraw facility Yes
Repayment holiday Yes
Ability to split loan Yes
Extra repayments Yes
Offset account available Yes
Interest only payments Yes
The ugly stuff: fees
Application fee -
Valuation fee -
Subsequent valuation fee -
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* Important note: All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing.
Pros
- Rewards program
- Low Doc
- No monthly fees
- Redraw facility
Cons
- No progressive drawdown
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