A national franchise brokerage has entered a deal that will see borrowers earn frequent flyer points on home and personal loans.
Velocity Frequent Flyer, the loyalty program of Virgin Australia has partnered with Aussie Mortgage Brokers.
Velocity Frequent Flyer Chief Executive Officer, Neil Thompson said the initiative is a first for the company, and will be one of the largest opportunities to earn points outside of flying.
“We are continually looking at ways to enhance the program and our portfolio of partners. Finding new opportunities to reward our members on their everyday spending is a priority and today marks the next chapter for Velocity in extending Velocity Points earn to new home loans and personal loans,” he said.
The partnership will see home loans between $200,000 - $499,999 earn 50,000 points, and loans of $500,000 plus earn 75,000 frequent flyer points. To put this into perspective, a flight from Sydney to Fiji will cost you from 16,900 points
plus taxes and fees, while a flight from Melbourne to London clocks in at 62,500 points
plus taxes and fees.
Aussie founder and executive Chairman John Symond
said the company is always looking for ways to innovate and attract customers.
“There are many synergies between the Aussie and Virgin Australia brands so we’re thrilled to be partnering to make getting a home loan or personal loan through Aussie an even better deal,” he said.