Tourism

Home loan or holiday? Here’s how you can have both

Laine Fullerton

Westpac and Velocity Frequent Flyer Points have teamed up to help give those applying for a new home loan more opportunities to travel.

And if that doesn’t brighten up this rainy Tuesday than we don’t know what will.

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From this week, Westpac customers applying for a new home loan will also benefit from hundreds of thousands of Velocity Frequent Flyer Points, giving Australians the ability to celebrate the milestone of owning their own home, investing or refinancing, with the added bonus of Velocity points to help them travel sooner.

The partnership came about after research findings released by Velocity revealed more than half of Australians are sacrificing travel and holidays while saving for a home.

In fact, 72 per cent of Australians find it difficult to contemplate going on holiday after taking out a home loan, with more than half of Australians waiting for two years or longer before taking their next domestic holiday.

To assist home buyers who are eager to travel, Westpac has two new Velocity home loan offers based on a customer’s borrowing requirements, when taken with a Premier Advantage Package.

The first offer provides 200,000 Velocity points on loans over $250,000 and the second offer gives 500,000 points on loans above $1,000,000.

Velocity points can be used to purchase flights with Virgin Australia and its international partners, book hotel stays and purchase fuel.

Westpac general manager for home ownership Will Ranken said the offer is the first of its kind for Westpac, offering outstanding new benefits for new packaged home loan customers.

“As part of this offer, new Westpac Premier Advantage Package home loan customers will be able to use their Velocity points to book a holiday, assisting the one in five Australians who are waiting more than five years before taking their next major holiday,” he said.

“Westpac is proud to celebrate the great Australian dream of home ownership and this new partnership will give our customers a range of Velocity benefits to mark the milestone of obtaining a new packaged home loan.”

Velocity Frequent Flyer CEO Karl Schuster said that it was a wonderful opportunity for families and individuals to celebrate.

“Customers can use Velocity points to fund their holidays in any number of ways, from flights through to activities and accommodation, so they can really custom-make the trip they would like to go on.”

The offer is available now to new Westpac Premier Advantage Package home loan customers who apply before 30 September 2018 and settle by 30 November 2018.



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