Powered by MOMENTUM MEDIA
subscribe to our newsletter

Virgin to relaunch home loans

The owner of Virgin Money Australia has announced that the group will relaunch mortgages within 12 months.

Bank of Queensland managing director and chief executive Jon Sutton today announced the group’s half-yearly profit results in which he outlined the regional bank’s plans for its subsidiary businesses.

“We can continue to drive growth through our existing strategy especially when you consider we’re still below our peers’ market share in the broker channel and we have further upside through BOQ Specialist, as well as Virgin Money Australia where we expect to launch mortgages within 12 months,” Mr Sutton said.

Virgin Money was active in the Australian mortgage space and broker channel for a number of years. The group first announced its plans to enter the mortgage market in 2011 after forming a successful partnership with Citibank in 2009.

BOQ acquired Virgin Money in April 2013.

Advertisement
Advertisement

PROMOTED CONTENT


The regional paid approximately $40 million for the exclusive Australian rights to the retail arm of Virgin Group and its brand.

More to come.

Virgin to relaunch home loans
mortgagebusiness

Latest News

Politicians have traded blows while debating the repeal of responsible lending laws in the lower house, ahead of today’s Senate hearings. ...

The non-bank lender reported an 88 per cent rise in profit and a 14 per cent increase in its loan book over 1H21, despite a drop in the volu...

There was a 26 per cent rise in loans originated through the broker channel at the non-major bank as at 31 December 2020, according to its r...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: BOQ’s acquisition of ME Bank

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.