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Westpac and St.George offer home loan incentives

Westpac and St.George offer home loan incentives

Australians looking for new home loans or considering refinancing their existing mortgages may be eligible to receive frequent flyer points or cashback on their loans, thanks to new and extended offers from Westpac and St.George.

Buy a home, get a holiday

As part of a new partnership with Virgin Australia’s frequent flyer service, Velocity, borrowers who apply for new Westpac Premier Advantage package home loans before 30 September 2018 (settlement by 30 November 2018) may be eligible to receive:

  • 200,000 Velocity Frequent Flyer Points for home loans $250k and over
  • 500,000 Velocity Frequent Flyer Points for home loans $1m and over

According to Westpac, 200,000 points is enough to fly a family of four to Queensland and back from any Australian capital city, or two people to Hong Kong and back. Meanwhile, 500,000 points is described as enough to fly a family of four to Los Angeles and back, or two people to London and back.

Refinance for cash back

Meanwhile St.George has extended its offer to reward Australians looking to refinance their home loans.

Borrowers applying to refinance to a St.George Advantage package home loan (owner occupier or investment) before 31 August 2018 (settlement by 31 October 2018), may be eligible to receive $1500 cash back.

Terms and conditions apply to both the Westpac and St.George offers.

Remember that the home loan with the lowest interest rate or the highest incentives may not be the best option for you. Compare the available home loan options and consider seeking professional advice before making any financial decisions.

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This article was reviewed by Property & Personal Finance Writer Nick Bendel before it was published as part of RateCity's Fact Check process.

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