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Major bank offering broker clients $50k

by Reporter4 minute read
Money, cash, Australian dollars

One of the big four banks is offering mortgage broker clients a year’s worth of mortgage payments if they buy insurance by the end of next month.

In a message to aggregators, Westpac said that it is “passionate about helping Australians into their homes as well as ensuring the things they love are protected”.

“That’s why Westpac is giving you or your clients the chance to win a years mortgage or rent paid up to the value of $50,000,” the bank said.

“For a chance to win, the entrant must successfully purchase one or more of the policies below — online, in-branch or over the phone — between Monday, 7 May 2018 (12am AEST) and Sunday, 24 June 2018 (11:59pm AEST).”


The policies include:

  • Westpac Home and Contents Insurance; or
  • Westpac Contents Insurance; or
  • Westpac Landlord Insurance; or
  • Westpac Car Insurance.

The prize consists of a choice of one of the following options:

Option A:
A cash prize equivalent to 12 months of the winner’s home loan repayments for their existing mortgage only if on a single residential property with an Australian bank or Australian credit union, valued at up to a maximum value of $50,000; or

Option B:
A cash prize equivalent to 12 months of the winner’s rent payments up to a maximum value of $50,000; or

Option C:
A cash prize of $25,000 if a winner does not have a home loan or pay rent, or the winner is unable to provide the mandatory documentation required.

Entrants must be Australian residents aged 18 years or over. Multiple entries are permitted, with one eligible entry per policy allowed.

An eligible entry is comprised of: full payment of the annual Eligible Policy premium or, if paying by the month, the entrant’s nominated bank details to enable monthly instalments of the Eligible Policy premium to be deducted.

money dollars ta min

James Mitchell

James Mitchell


James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.


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