Westpac’s new home loan offer is set to send you sky high, literally

Fancy a holiday with your home loan? Well that’s the latest perk Westpac is offering, thanks to a new partnership between the big bank and Velocity Frequent Flyer.

Westpac customers applying for a new home loan, whether it be an investment, refinance or for their first home will be rewarded with hundreds of thousands of Frequent Flyer Points.

The partnership has come in response to new findings by Velocity, which found that 72% of Aussies find it difficult to go on holiday after taking out a home loan, while more than half sacrifice holidays in order to save for property.

“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,” said Westpac General Manager for Home Ownership, Will Ranken.

However, both offers are only available to customers who take out a home loan under the Premier Advantage Package.

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What are the offers?

Under the Premier Advantage Package, Westpac customers have two offers available which are based on a customer’s borrowing requirements. They include:

  • 200,000 Points on loans of $250,000 or more; which can help get a couple on their way to Hong Kong or a family on their way to Queensland.
  • 500,000 Points on loans of $1,000,000 or more; which can help get a couple on their way to London or a family on their way to Los Angeles.

 “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.

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Velocity Frequent Flyer CEO, Karl Schuster has also encouraged Aussies to take full advantage of the points system to give their holidays a personal touch. 

"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’d like to go on,” he said.

So if you’re an Aussie keen to score a sweet deal on their home and holiday, you’ll need to apply between 11 June and 30 September and settle by 30 November in order to be eligible for the offer. 

Want to compare more options? Check out our home loan comparison tool for some of the latest deals on home loans today.