Powered by MOMENTUM MEDIA
subscribe to our newsletter
Virgin to relaunch home loans

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.

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

The chief lending officer of a credit provider has sought to refute the “myths” associated with non-bank lending amid concerns raised by...

A US-based fintech has announced its partnership with Mastercard ahead of its launch in Australia in 2019. ...

A loans and deposits marketplace has announced that it has secured capital investment from Lakeba Group. ...

FROM THE WEB
podcast

LATEST PODCAST: Changing faces and bank growth slowdown

Is enough being done to ensure responsible lending?