Virgin Australia’s Velocity Frequent Flyer Points program has this week announces a new partnership with Westpac, aimed at giving new home owners in Australia access to potentially hundreds of thousands of points. The substantial bank of points being offered come with two options, both accessible to Westpac customers who apply for a new home loan from now on.
As an added incentive to take up a home loan with Westpac, the bank now offers two Velocity home loan packages based on a customer’s borrowing requirements when taken with a Premiere Advantage Package. Loans of $250,000 or more can accrue 200,000 Velocity points, while loans of $1,000,000 or more will net 500,000 points.
The partnership is a response to recent researching findings which show that 72% of Australians find it difficult to contemplate going on holiday after taking out a home loan, with more than half waiting for two years or longer before taking their next domestic holiday.
“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”, said Westpac General Manager for Home Ownership Will Ranken. “At Westpac we are always looking for ways to better support our customers and our new partnership with Velocity gives those signing up to a new packaged home loan a helping hand”.
To put things in perspective, 500,000 Velocity Points could be used with Virgin or their international partner airlines to help a couple get on their way to London, or a family on their way to Los Angeles.
The offer is available to new Westpac Premier Advantage Package home loan customers who apply between 11 June 2018 and 30 September 2018 and settle by 30 November 2018 to be eligible for the offer. More information can be found at westpac.com.au/velocity