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Virgin Money Home Loans

Virgin Money Home Loans

1.8 from 22 reviews

See the Best Home Loans in 2019 as rated by Australians on ProductReview.com.au.

Income protection money waste

Absolutely waste of time and money If you can choose someone else I would recommend that. They’re pretty good at customer service when you want to take on the new insurance

No reward for loyalty

Been with them almost a year and had a rate increase within the first few months of settlement even without RBA rate changes. Took weeks for them to pass on rate reductions post RBA announcements. Velocity miles not worth the extra cost compared to other lenders. Customer service is decent but customer retention is non existent. Will be refinancing elsewhere.

Customer Service
Application Process
Online Tools
Loan TypeVariable Rate
Loan used for:Refinancing

Free travel!

Im coming to the end of my two year fixed loan with virgin and couldnt be happier.
After some bad experiences with the big 4 I've loved the no wait customer service with voice recognition and the crazy amount of travel i have done on points in the last two years. They gave us velocity points on the value of our loan so partner and I have been to the US plus FNQ a few times without paying for flights! Still have points left! Credit card has been problem free also with a great response when i didnt recognise a charge. If you are thinking about using them i wouldn't hesitate.

Customer Service
Application Process
Loan TypeFixed Rate
Loan Start DateSeptember 2017
Loan used for:Investment Property

Just lifesavers! No complaints.

I am just so happy with this company!
I was approved for a home loan by them a few years ago - the only guys who would give me a chance.
Ever since then, I have received impeccable customer service and I am so thankful!
They make everything so simple and so easy!
I recommend them to everyone!

Customer Service
Application Process
Loan TypeFixed Rate
Loan used for:First Home

Interest Rate increased without notifying me. Interest rate cuts not passed on

I have my home loan with Virgin. I signed up at 3.69 and was not informed of a .2 rise in interest rates which effectively means I started my home loan (after the construction loan) on a rate that was higher than what I signed up for without even receiving a notification.

When I called the bank I was told that my rate was at 4. something which apparently was what it defaulted to after the construction loan. Nobody knew what was going on and I had to get my mortgage broker involved to get it sorted. The customer service just said that's what it is, nothing they can do about it, absolutely useless.

Now that the interest rates are being cut, ANZ is getting told off for only passing on 18/25 points, yet, Virgin Money hasn't said anything about it. This cut is mean to be passed on, if they don't, everybody will be better off moving to another bank as the saving will outweigh the exit fee by far!

Pick up your game. Can't recommend them.

Loan TypeVariable Rate

sub par

Just closed credit card account over the phone, due to little use. I then asked how my money in the account was going to be refunded to me. Virgin wants to wait 1 month then send a Cheque out..... I asked about just transferring to my savings account and they said its not possible.......

Be Careful Where You Work

wouldn’t proceed with our refinance loan because my husband works for one of the companies that their internal policies has black listed. If you work in the 2nd hand dealer sector, tattoo shop or something in the gaming world - don’t even waste your time because they won’t approve you.

Customer Service
Application Process
Loan used for:Refinancing

If I could give a zero I would

Unsurprisingly my original complaint from March 7th 2019 still hasn’t been resolved. I was contacted by Virgin Moneys call centre last Friday who promised to call me in 3 working days - no call. It has been over a month since my dispute over an unapproved transaction on my credit card - still not resolved. My new cards pin was locked (4th replacement in a month due to Virgin incompetence) which has cost me more points, and finally the 2 thousand points that were promised as inconvenience money still haven’t been transferred. #yousuckvirgin

Customer Service
Application Process


They took so long to give us an answer on if we were going to get the money for our home, they have exceeded the finance date, our application has been back to the assessor so many times its ridiculous. They've lied a couple of times saying that we will get an answer In "24 hours". They can only do one thing a day they cant do too much work. Have extended our finance date and still waiting on an answer....

Happy home loan owner ;)

The team made a complex process as easy as it can be, which is a challenge in itself. Well worth the effort once settlement hit, with timely full approval, documentation and time to spare before we did settle. Surprised about some of the reviews left by others, which could be influenced by the fact a home loan needs paperwork to get sorted. A little bit of work to get hundreds of thousands of dollars to help you buy a home is kind of expected. Good work overall Virgin Team!

Dont waste your time and energy

I wish I saw these reviews here before applying, they are extreme slow and demand every document under the sun. Been 3 weeks since start and still no reply what a waste of time. even 1 start is flattering


Made me "jump through hoops" for a re-finance application. Documents, more documents, value of my property. Under valued it. Waited 3 months and requested an update to get a "you do not meet our credit requirement" reply.

If I hadn't traced it up with them, would they have replied at all??

Dont go there.

I support all of the above reviews of the negative experiences as being ver factual, as we have been put through similar. May I also add the huge stress it created in our family and after 1 month we still havent had a response.


Need a - star option. Don't bother, only applied for a basic credit card. They wanted a ridiculous amount of documents, which i gave. I had to follow up regularly. With bad line connections and call centers in the back streets of India, it was hard to hear the operator. They are very slow and take forever to get back to you. 3 weeks of stuffing around for a credit card to only be rejected....when they could tell you in the initial stages. Don't waste your time.

Wish i could give no stars!!!!!

completely wasted our time, they are soooo slow at doing applications, request the most ridiculous pieces of information ... they must be as thick as their flight attendants
For someone who only needs to borrow 40% of the current value of the property and owns a company with a quarterly turn over of approx $100000.00 im really surprised , I wish i read these other reviews before i applied

Waste of time & effort - no star rated - only put 1 star as compulsory for review submission

Applied for a refinancing home loan through a mortgage broker, who had an initial conversation with Virgin Money about our situation. Been told they accepted our situation and proceeded with a house evaluation. Result came back and we agreed on the refinancing option as proposed by Virgin Money. We provided all supporting documents to VM and the process was very slow. The refinancing value is > $1M hence needs a level 2 credit officer review. They came back asking for more supporting documents, including credit cards that we closed off a while ago. We waited then been told that our application couldn't proceed. The reason was we both have very strong income however our credit card debts are too high. We advised VM about our situation from the beginning and VM team said they were ok to proceed with refinancing however turned around and said no after 2 months of asking for hundreds of supporting docs which we provided promptly and everything was accurate as what we said from the beginning.
Not a creditable lender. Do not waste your time with them.

no ownership, no responsibility, no accountability, no communication very slooooow

I failed to read the review from Smiles and Cook Kid.I missed 2 properties because the conditional approval took nearly 2 months. I should have known and stop there. Unfortunately, I continue with the loan application due to the relatively good rates (what you pay is what you get).

I forwarded my contract of sale on the day i signed, that's 6 weeks till settlement. No updates/communication for 3 weeks, every time I call to follow up, the answer is you still got time.

FOUR work days before my settlement, I got my loan documents at lunch time. Which I quickly post back next day because they need to ‘original’ to continue with the process, though I have forward a scanned copy via email. Apparently, it’s protocol not to do anything until the original is received. The express post notification that the loan documents has been delivery. I called but unfortunately it’s still in the mail room and not on the loan officer desk so he can’t do anything! He said it’s not his fault that the loan documents sent out late and that he still haven’t received the return post!!!

I question the business development manager and the loan officer who will be liable for the penalty of the delay in settlement and the respond is not Virgin!!

It’s two days till settlement, the loan documents are in the mail room and not on the loan officer desk and one stress customer. Way to do business.

The rates are relatively good but if I have to do it again. DEFINITELY not with Virgin.

Terribly slow and lack of response/update.

Waited for more than a month for approval and am still waiting. Demanding for daily update and receive a response every 2-3 days instead. Do not go with them unless you are happy to wait! They are awful!

Awful. So slow

Please don't go with virgin. Low rates but you will be waiting WEEKS for then to even look at your application


Good until we found out that they have changed the rules and say that the repayment holiday is no longer available to us - pretty shocking treatment of a customer. We are now looking for somewhere else who offers something better.
offset account, low rates
not passing on full rate cuts from RBA.
did not tell us that they have changed their rules for critical items like having 'repayment holidays' - we only found out about the change when we wanted to apply for the holiday!

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