Canstar

Terms and Conditions

The Velocity Points offer is offered by Canstar Pty Ltd (Canstar), available at the Canstar Velocity Offer Webpage and subject to Terms and Conditions and Eligibility Requirements, (including qualifying loan approval, minimum drawdown requirements, and any other requirements related to any brokerage arrangement). Please read the applicable Terms and Conditions and Eligibility requirements for this offer before submitting your information to a lender or broker.

The offer remains current while it is made available on the Canstar Velocity Offer Webpage. The offer may be concluded or suspended at any time without notice. Individuals must be a Velocity member to be eligible to participate in the offer.

If you submit your details to a lender or broker via Canstar’s website, you agree that Canstar’s Privacy Policy and Terms of Use apply.

Detailed Disclosure & Comparison Rate Warning#

Applications for home loans are subject to your selected lender’s credit approval criteria. Terms and conditions and fees and charges apply. Refer to your selected lender’s website for details.  A range of credit products are available to help you earn Velocity Points. None of Velocity, Virgin Australia or Canstar is suggesting you should apply for a particular product with a particular provider. If you decide to apply for a loan, you will deal directly with the provider, not with Velocity, Virgin Australia or Canstar. It’s important you check rates and product information directly with the provider. Velocity, Virgin Australia and Canstar are not credit providers. You should consider if a home loan is suitable for you before applying. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD. Read Canstar’s Detailed Disclosure and FSCG. #Read the Comparison Rate Warning.

Eligibility Requirements, points offer

If you make the decision to apply for a home loan, to be eligible to earn Velocity Points, you must follow this process, and meet these eligibility requirements: (1) Visit the Canstar Velocity Offer Webpage; (2) Hold a current Velocity membership; (3) Select a home loan provider, or mortgage broker, via a link on the Canstar Velocity Offer Webpage, and enter the required information into the form (including your Velocity membership number) to submit your details to the selected home loan provider, or to Connect2Broker; (4) Complete a home loan application with the home loan provider, or via an eligible broker you contacted through the applicable link on the Canstar Velocity Offer Webpage while the offer remains open; (5) Be approved for the home loan as a result of your eligible home loan application and draw down at least the minimum amount, in both cases, while the offer is current on the Canstar website or within 90 days thereafter; (6) The minimum draw down amount of the home loan is $250,000 for home loans approved directly by a participating lender and $500,000 for home loans obtained via an eligible broker, as further detailed in the next paragraph; (7) The home loan must be in your name and must match the name on your Velocity account; (8) You must be a resident of Australia; (9) You must be an individual and not a business, company or trust; (10) You must be at least 18 years of age before you complete any steps in this process; (11) You must not enter a third party’s Velocity membership number on the Canstar Velocity Offer Webpage; (12) You are only entitled to earn Velocity Points under this offer once per residential address and you cannot earn Velocity Points through a participating lender and an eligible broker on the same loan amount.

^The number of Velocity Points you may be eligible for is as follows:

• 500,000 Velocity Points are available to existing Velocity Frequent Flyer members who draw down an amount of $1M or more from an approved eligible home loan offered by a participating lender via the Canstar Velocity Offer Webpage, other than Loans.com.au.
• 250,000 Velocity Points are available to existing Velocity Frequent Flyer members who draw down an amount between $250,000 and $999,999 from an approved eligible home loan offered by a participating lender via the Canstar Velocity Offer Webpage, other than Loans.com.au.
• 250,000 Velocity Points are available to existing Velocity Frequent Flyer members who draw down an amount of at least $250,000 from a home loan offered by Loans.com.au.
• 125,000 Velocity Points are available to existing Velocity Frequent Flyer members who draw down an amount of $500,000 or more, from a home loan sourced with the assistance of a broker in the Connect2Broker network via the Canstar Velocity Offer Webpage.

The Velocity Points offer for members who source their eligible home loan with the assistance of a broker is available via an arrangement between Canstar and Connect2Broker, not the lenders on Connect2Broker’s panel. If you are eligible to earn Velocity Points based on your involvement with an eligible broker, the Velocity Points are offered by Canstar and are not associated with the lender.

Multiple applications may be considered one application for the purpose of this offer, for example applications for more than one loan, or a loan split, are deemed one application. Eligible applications of more than one loan applicant must nominate the one Velocity account of the applicant that will receive the Velocity Points.

Please allow up to 70 days after the qualifying draw down of your eligible home loan for the Velocity Points to be credited to your account.

You acknowledge that Velocity, not Canstar, is responsible for running the Velocity Frequent Flyer Program.  For any questions regarding the Velocity program, please contact Velocity. Velocity Points and membership of Velocity are subject to the Velocity membership Terms and Conditions.

Participating lenders and home loan products

The initial participating lenders are Loans.com.au, Mortgage House, Queensland Country Bank, WLTH, Reduce and BCU and the initial approved broker network is Connect2Broker, whose network brokers are part of the Loan Market Group. Participating lenders and brokers are subject to change at any time.

The lenders displayed on this page, and Connect2Broker have a commercial relationship with Canstar. These are advertisements. The advertisements are for participating lenders, and for Connect2Broker, not for specific home loans. Not every provider in the market is included. There may be other home loan providers with products that would be better suited to you. Speak to a qualified adviser before making a decision to apply.

Not every product available via one of the participating lenders is eligible to earn Velocity Points. Before you apply for a home loan, you need to check with the lender to confirm whether the loan you want to apply for is part of this Velocity Points offer. You can only Earn Velocity Points if you submit your enquiry to a lender or broker via this webpage.

Applications for home loans are subject to your selected lender’s credit approval criteria. Terms and conditions and fees and charges apply.

Similar products might have different features and fees depending on the amount you borrow. Contact the lender for details.

Modifying existing arrangements 

Before you elect to terminate or modify existing lending arrangements, we recommend you consider (i) your personal circumstances, and (ii) any associated fees, exit costs and application costs that may be applicable as well as the impact these changes could have on you. We suggest you consider seeking independent advice from a qualified adviser.

Referral Fees for Home Loans

Canstar will earn a fee from its Online Partners for referrals from its website, and will earn another fee if you decide to draw down an eligible home loan. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more.

The “Talk to a mortgage broker” button will take you to a third-party mortgage broker. If you decide to find out more or apply for a home loan, your details will be sent to the broker and you’ll deal directly with the broker, not with Canstar. Canstar will earn a fee for referring you to the broker.

In recognition of marketing efforts, Velocity receives a fee from Canstar if you enter your Velocity Frequent Flyer member number on Canstar’s website in connection with this offer. 

Velocity membership Terms and Conditions apply.