Canstar partners with Velocity Frequent Flyer so you can now have your home loan and your holiday

The majority of Aussies saving money say the biggest expense they are working towards is a holiday, according to new research from Australia’s biggest financial comparison site, Canstar.

The Canstar survey of over 6,500 Australian adults saving for a major expense or purchase found 57% are putting money aside for travel and holidays.

To make more holidays happen, Canstar partnered with Velocity Frequent Flyer to bring Aussies the ability to earn up to 500,000^ Velocity Points when taking out an eligible residential home loan with a participating lender or mortgage broker. This Velocity Points offer ended on 9 November 2023.

500,000 Velocity Points could see a family of four fly economy return from Sydney to Los Angeles when booking Reward Seats. It may also see a family of four fly economy return between Sydney and Nadi, Fiji for 142,400 Points + $1,083.60 in taxes, fees and carrier charges or 324,000 Points. That’s up to 3 return fares if you book Reward Seats.

Domestically, a family could purchase return Economy fares between Sydney and Gold Coast for 49,600 Points + $255.92 in taxes, fees and carrier charges or 93,600 Points. That’s up to 10 return fares if you book Reward Seats.

Canstar Gold’s CEO Paul Duggan says, “The increasing cost of living, and 12 rate hikes in 16 months, has impacted the holiday hopes of many Australians, particularly those with a mortgage.”

“To help more Aussies take a well-deserved break, Canstar is proud to have teamed up with Velocity to give its members the opportunity to earn a stack of Velocity Frequent Flyer Points and potentially secure a lower interest rate on their home loan.”

Borrowers, who draw down an amount between $250,000 and $999,999 with one of the participating lenders, will earn 250,000 Velocity Points. If the amount draw down is over $1 million, they can earn 500,000 Velocity Points!

When borrowers draw down an amount of $500,000 or more with one of the participating lenders via Canstar’s broker partner, Connect2Broker, they can earn 125,000 Velocity Points.

The partnership between Canstar and Velocity gives borrowers plenty of options to access a home loan while snapping up the Velocity Points offer of a lifetime.

“This partnership between two of the country’s most well-known brands provides Velocity Frequent Flyer members with the chance to take out a loan via the Canstar website including through a mortgage broker and earn Velocity Points either way,” says Duggan.

“With more than two million Aussies visiting the Canstar websites each month, we know people are interested in checking their personal finances. Offering the ability to earn Velocity Frequent Flyer Points as a bonus is the cherry on top for mortgage holders.”

Velocity Frequent Flyer General Manager Member Engagement Emma King, says “We know that the high cost of living is continuing to impact Australians, so we are proud to be partnering with Canstar to help people get to their dream holiday faster.”

“Providing great value is at the core of what we do, having recently announced the lowest domestic Reward Seat pricing of any Australian airline (plus additional taxes, fees and carrier charges), allowing our 11.5 million members to fly for fewer Points.

“There are so many different ways for members to use Velocity Points, with the program connecting members to more than 500 destinations across Australia and around the world, as well as options to redeem with partners in homewares, technology, car hire and hotels.

“We look forward to seeing Australians dream big with the opportunity to redeem on their next holiday, household items or a trip to see family using Velocity Points.”

→ Compare Canstar home loan offers with the opportunity to earn Velocity Points

^ Terms and conditions apply.

Main image source: Yaroslav Astakhov/Shutterstock.com