Frequently asked questions
About Qantas Money Home Loans
How does Qantas Money lend for a home loan?
Does Qantas Money offer introductory (honeymoon) home loan rates?
How can Qantas Money offer such low home loan rates?
Why choose a Qantas Money Home Loan?
Considering a home loan
Am I eligible for a Qantas Money Home Loan?
I'm self-employed, can I apply for a Qantas Money Home Loan?
How quickly can I get a home loan?
Can I submit an application for multiple properties?
What is a Comparison Rate?
Mortgage versus home loan - do they mean the same thing?
What are the fees associated with a Qantas Money Home Loan?
Saving for a home loan
What is equity?
How to increase borrowing power?
What does LVR mean?
What is Lenders Mortgage Insurance (LMI) and when would I need it?
How much does HECS affect borrowing power for a home loan?
What other upfront costs are involved in buying a home?
Can I use the equity in my current home as a deposit?
How much deposit do I need for a home loan?
Types of home loans & features
Is fixed or variable rate better?
What is a Key Fact Sheet?
What type of home loan is best if I’m a first home buyer?
What is a variable rate home loan?
What types of home loans does Qantas Money offer?
What is a fixed rate home loan?
I’m not sure which type of loan or features will be best for me. Do I need to know before I apply online?
How do I choose a home loan?
Principal and interest or interest only?
What is a roll-to rate?
What is a home loan interest rate?
What is an offset account and how does it work?
Applying for a home loan
What happens after I have applied?
How do I submit a joint application?
How does the application process work?
I am not an Australian resident, can I still apply for a Qantas Money Home Loan?
Can I apply for any type of Qantas Money Home Loan online?
How does full approval with Qantas Money work?
What is a Foreign Tax Form and why would I need one?
How can I check the status of my application?
How does Qantas Money assess the value of my property?
Will I always get your published interest rate?
How does making an application affect my credit score?
How long does it take for a home loan to be approved?
Does Qantas Money offer pre-approval?
Where can I get help to complete my application?
What documentation will I need to provide?
How does Qantas Money assess my household expenditure?
I’ve completed the application process. What happens next?
When will Qantas Points land in my account?
What is Stamp Duty?
How will Qantas Points be allocated for a joint application?
How does the settlement process work?
How long does it take to receive my home loan funds?
Who can act as a witness when I sign the loan documents?
After settlement do we deal with Qantas Money or Bendigo and Adelaide Bank?
Managing your home loan
How often will I receive information on my account?
Can I make changes to my loan?
How can I make repayments and redraw on my home loan?
How do I redraw on my loan?
What are the features of an offset account debit card?
Can I pay extra into my home loan each month?
How can I check what my current home loan repayments are?
How do I log in to online banking for my home loan?
How much difference does 0.5% make on a home loan?
How much can I borrow when refinancing?
How do I refinance my home loan?
How can I calculate my savings from refinancing?
Can I use equity in my loan?
What are the benefits of refinancing your home loan?
Security & Privacy
Is it safe to get a home loan online?
How can I tell which emails are genuine?
Is entering my online banking details safe?
How does Qantas Money manage data security, to protect my financial information?
What do I do if I receive a suspicious phone call?
Customer support and complaints
How does full approval with Qantas Money work?
To give our full approval for a property, we need to confirm its value by one of the following methods:
- Use an automated valuation model (AVM): For many properties, we can conduct a satisfactory valuation using an automated model, which occurs instantly when you input the address as part of our application.
- Complete a desktop or full valuation: There are a few scenarios where we won’t be able to run an AVM valuation: if you require Lenders Mortgage Insurance, if you are purchasing a high density property. In this case, we conduct a desktop or full valuation. It takes slightly longer, so we will try to conduct an AVM valuation first where possible.
If you made a bid based on pre-approval from another lender, or without any financing arranged, and you’ve already got a signed purchase contract, we can usually skip the valuation step (unless you require Lenders Mortgage Insurance or your property is classed as ‘high density’).
Whichever valuation type you need, it’s at no cost to you.
You’ll need to provide the exact address of the property you want to buy and complete the rest of the application. Find out more about what happens once an application is submitted here.
How do I bid at auction?
It’s common for buyers to bid with only pre-approval, which can be quite risky. Since auction sales are typically unconditional and final, you are required to pay your deposit immediately after the hammer falls.
With Qantas Money, we only offer full approval, which requires you to provide the exact address for the property. You are only able to go to auction with full approval if we’re able to run an AVM. If we can't run the AVM, we’ll need more time to order a full or desktop valuation before we can fully approve you.
If you intend on using full approval to bid at an auction, please call one of our Qantas Money Home Loan experts on 1300 992 700. They’ll be happy to help you through the process.
What if I don’t get the property?
Please give us a call on 1300 992 700 if you don’t end up purchasing the property you applied for, or if you had full approval and your settlement fell through. There’s no need to submit a new application, as we can change the property on your existing application and hopefully offer full approval on the new property as well.
Read more about applying for a Qantas Money Home Loan in our FAQ.