A new partnership has been signed between Velocity Frequent Flyer, and Westpac – Australia’s oldest bank and company – whereby Westpac customers applying for a new home loan will build up Velocity Points on various packages that can be used to purchase flights with Virgin Australia and its international partners, book hotel stays and purchase fuel.

Velocity has released research findings that show that 72% of Australians find it difficult to contemplate going on holiday, either locally or internationally, after taking out a home loan, with more than half waiting for two years or more before taking their next domestic holiday.

Will Ranken, Westpac’s General Manager for Home Ownership, says this first-of-a-kind offering for Westpac will enable one in five of its Premier Advantage Package home loan customers – who may wait more than five years before booking a major holiday – to achieve that holiday earlier.

Velocity Frequent Flyer CEO, Karl Schuster adds: “We are proud to be able to offer Australians the opportunity to go on holiday sooner after taking out a new packaged home loan than they would otherwise consider doing. 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.”

Caroline Stanley, Public Affairs Specialist of Virgin Australia, told Tourism Update that “Velocity Points that can be earned through this offer can be used for both domestic and international holidays, including the destinations that we fly to in Africa”. Southern and East African countries that the airline currently flies to are Cape Town and Johannesburg in South Africa, Dar es Salaam in Tanzania, and Nairobi in Kenya.