Bank of Queensland subsidiary Virgin Money will launch its long-awaited home loan product next month, hoping to attract borrowers with a rewards program.Virgin Money's Reward Me Home Loan will offer frequent flyer points and other benefits.Borrowers will receive Virgin Frequent Flyer points on settlement, with loan repayments each month and at certain anniversaries. For example, a A$100,000 loan would attract 10,000 points on settlement, 1000 points a month and 30,000 bonus points every three years.The lender is also offering deals on other Virgin Money products and offers on Virgin Australia, Virgin Mobile, Virgin Wines and Virgin Active sales.The loan, which will be funded by BOQ, will have a tiered rate structure, with discounted rates based on the size of the loan and loan-to-valuation ratio. Rates are yet to be set.Distribution will be through mortgage brokers. Aggregator Plan Australia announced yesterday that it would be selling the loan.BOQ bought Virgin Money in 2013, aiming to use it as an online distribution channel that would reach a different target market from the bank's usual customer base.Product development has been slower than expected. A couple of years ago the bank acknowledged that it had remedial work to do on its mortgage origination system before developing Virgin Money products.Virgin Money personal loans and transaction accounts are still in the pipeline.