Virgin Money still yet to pass on Feb rate cut to customers

Analysis

A bank played the role of villain in February, when he refused to transmit a very necessary relief of rates to the client. Now it seems that Virgin Money is ready to double before a May -rhythm cut by the RBA.

If everything is not transmitted, or any of the 25 basic points by the Central Bank will leave the customers of Virgin Money and boqs that sprout 0.5 percent more money in interest for their bank than if those banks followed the leadership of the 110 in the other full Terders.

On the Australian loan of agrejeje or just above $ 600,000, a unique rates reduction or 0.25 percent will save around $ 1200 a year. A double rate cut will save $ 2400 a year.

Those savings increase significantly for the number of Australian fasting with higher mortgage balances than average.

Further:15 lenders reduce rates before the RBA meeting

Increased shock in mortgage loans

In February, the representatives of the Bank of Queensland, which Virgin Money and Boqs owns, told me that while Boq and Bank transmitted the rates in their entirety, the two subsidiary lenders would not be their offers.

That seemed to me that Virgin Money Virgin Money is found at 6.44 percent, which is higher than all the seven of the 111 lenders on the Finder’s radar.

I am not sure what the market referred to.

His clients agreed, carrying their social media pages to vent.

“Currently negotiating a new agreement with another bank. It will have lost mortgage loans and credit cards with us due to greed,” Kelly Schuppe published at that time.

I have approached them again this time to ask if they will approach. There is no answer so far, but it will be interesting to see how they justify it if they plan again not to cut.

Finder consumer’s chief of consumer, Graham Cooke, said there was the possibility that not so many lenders transmitted the following tariff cut in its entirety.

“Historically, Banks have transmitted the RBA rates cuts in its entirety, especially the periods of duration when their gain margins are squeezed,” Cooke said.

Further:The brutal truth about how Australian youth are buying houses

Suburbs where houses sell great discounts

“However, particularly with recent tariff cuts, there is a strong social pressure for the main banks to pass the complete 25 basic points to their variable mortgage loan client, driven by public pressure and competition.”

In fact, NAB did not waste time, announcing at 2.31 pm, the full cut of 0.25 percent would pass to customers from Friday, May 30.

“The competitive panorama among lenders plays an important role. If an important bank passes in the complete cut, others are or pressured to do the same to avoid losing customers,” Cooke said.

“Likewise, if the current lender does not pass the complete cut, the competitive environment means that there will probably be better offers available elsewhere. This makes the refinancing crucial for housing owners who seek to maximize their savings.

Further: What houses will they be worth in each suburb for 2030?

“A reduction or only half percent can be the difference of thousands of dollars a year.

“Buy around you to find a variable mortgage loan that sacrifices a lower interest rate than your current provider. The lowest rates now have a ‘5’ in front of them.”

With that in mind, here is the complete list of lenders in Finder’s books and their best variable rate.

We will update this every day with the new rates of the banks that pass the cuts.

Banks and their best variable rates (%)

ANZ: 5.84

Tilmank: 5.84

NAB: May 5.94-30, 2025

Westpac: 5.84

Adelaide Bank: 6.04

AMP: 5.89

Arab Bank Australia: 5.7

Athena: 5.99

AUSSIE: 5.89

Australian Military Bank: 5.89

Australian Mutual Bank: 5.44

Australian unit: 5.79

Auswide Bank: 5.84

Bank Australia: 5.88

First bank: 5.74

China Bank: 5.68

Melbourne Bank: 6.04

Sydney Bank: 5.79

Bank of us: 5.89

Bank orange: 5.69

Banksa: 6.04

Bankvic: 5.73

Bankwaw: 5.54

Bankwest: 5.94

BCU: 5.74

Bendondo Bank: 5.89

Beyond the bank: 5.89

Bluestone: 6.79

BOQ: 5.88

BANK BANK: 5.59

Broken Hill Bank: 6.64

Banco Cairns: 5.99

Central Murray Credit Union: 6.99

Central West Credit Union: 6.04

Coastline Credit Union: 6.69

Community First Bank: 5.74

Credit Union Sa: 5.74

Defense Bank: 5.84

Dnister: 5.79

Easy Street: 5.84

Family First Credit Union: 5.7

Credit Union Firefighters Service: 5.84

Firefighters Mutual Bank: 5.74

First option Bank: 5.74

Firstmac: 6.03

LENDS DE LA Forera: 5.9

G & C Mutual Bank: 5.74

Gateway Bank: 5.7

Geelong Bank: 5.89

Goulburn Murray Credit Union: 5.94

Great Southern Bank: 5.89

Banco Mayor: 5.74

Heritage Bank: 5.74

Homeloans: 6.14

Homestar finance: 5.74

Horizon Bank: 5.64

HSBC: 5.74

Hume Bank: 5.74

ILAWARRA CREDIT UNION: 5.74

IMB: 5.79

ING: 5.89

The Trobe: 6.54

Credit Union Laboratories: 5.95

Financial Liberty: 6.24

prolans.com.au: 5.74

Macquarie Bank: 5.89

Me: 5.88

Mortgage House: 5.64

Bank of Mouches: 5.69

Mystate Bank: 5.79

Permanent Newcastle: 5.74

Nicu: 5.74

Nrma Insurance Mortgage Loan: 5.78

P&N Bank: 5.88

Pacific Mortgage Group: 5.64

People’s Choice Credit Union: 5.64

Pepper Money: 6.29

Police Bank: 5.59

Police credit cooperative: 5.74

Qantas Money: 5.93

QBANK: 5.74

Qudos Bank: 5.69

Queensland Country Bank: 5.74

RACQ BANK: 5.64

Reduce: 5.74

Regional Bank of Australia: 5.69

Resi: 6.14

FINANCIAL SERIAL SERIAL: 6.14

South West Slopes Bank: 5.95

Southern Cross Credit Union: 5.98

St.george: 6.04

Sucasa: 6.05

Summand Bank: 5.59

Suncorp: 5.9

Mutual Bank teachers: 5.74

The Capricorn: 5.64

The Mac: 5.67

The Mutual Bank: 5.74

Tiimely Home: 5.79

Credit Union Mutual Transport: 6.69

UBANK: 5.84

Unibank: 5.74

Unity Bank: 5.74

UOONAN: 5.74

Mortgage loan: 5.75

Virgin Money: 6.44

Warwick Credit Union: 6.14

Well money: 5.81

Woolworths Team Bank: 6.34

Patio: 6.14

Yellow brick Road: 6.64

Further: The complete list of Finder lenders and their updated rates here