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Buy a home and get a holiday thrown in for free

04 August 2023 5:30AM

Comparison site Canstar has launched an initiative that links home loan applications through its website with an offer of frequent flyer points. Canstar has partnered with Velocity Frequent Flyer to offer as many as 500,000 Velocity points when borrowers take out an eligible loan. Borrowers who access a participating lender through the Canstar site will earn 250,000 points if the loan value is between A$250,000 and $999,999, and 500,000 points if the loan value is over $1 million. Currently, participating lenders are bcu, loans.com.au, Queensland Country Bank, WLTH Financial Solutions, Mortgage House and Reduce Home Loans. If borrowers apply through Canstar’s partner broker Connect2Broker, they can earn 125,000 points. Canstar said its consumer research shows travel is the number one savings goal. It said 500,000 Velocity points would be enough for a family of four to fly to Los Angeles. It is the second time this year that a lender has linked a home loan offer to frequent flyer points. In February, Qantas Money launched a home loan backed by Bendigo and Adelaide Bank with an offer of 100,000 Qantas frequent flyer points each year for the life of the loan.

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