May I suggest that those points aren't with very much compared with getting the right loan.

For example, those points could be bought for $6,250 through the right Amex card (i.e. $25 per 1000 points).

There is no guarantee you'd be able to use the points exactly as you'd like to when the time comes.

Virgin is relatively good at offering award space for domestic flights, but the real value comes in using the points for business / first class seats or upgrades, not economy.

You can transfer the Virgin points to Singapore airlines at a 2/3 loss leaving you with nearly enough for one first class ticket from Australia to Europe return (again subject to availability). This provides a healthy rate of return by saving you around $12,000 to $15,000 worth of travel.

One transferred to Singapore Airlines the points can also be used on Star Alliance airlines by ringing singapore airlines to request award seats. Searching for seats can be done on various websites such as ANA, Aeroplan (air Canada) and United.

Similarly, you can do some trial searches on virgin website to get a feel for availability on Virgin and similarly on singapore airlines website.

Please consider other mortgage products (if you haven't already) and reckon that anything greater than a few thousand dollars saved on the loan during the likely term is actually providing better value than those velocity points.