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How long does it take for a home loan to be approved?

Because our application process is entirely online, you may be approved instantly. Our online process is designed to make the process more efficient and easier to understand. Keep in mind though, that we may need to have a Qantas Money Home Loan expert review certain aspects of your application before we can make a decision. The time it takes for us to get to your application can change depending on how many applications we’re currently receiving and the complexity of your application.

After you apply, we’ll let you know if we’re experiencing any delays. Once we pick up your application for assessment and we start working towards approval, things will move quickly. Remember, if you’re prepared and can respond quickly to requests from our team, your application will be fully assessed sooner.

Once you’ve completed the application process (and real-time assessment), you will be notified if you are approved, declined, or if we need more information. 

If you're approved, you will receive an email from us with next steps, along with your home loan contract. This will include a settlement pack which will outline further steps such as getting an ID check.

What may delay my home loan approval?

If we need more information. Choosing manual financial validation instead of securely linking your accounts, submitting an incomplete application, or providing inaccurate estimates of your income, expenses and debts may require manual work for you and our team. These slow down the process significantly.

We receive large volumes of applications during specific periods. During these times, it can take more time to assess and approve your home loan application. While we’ll always do our best to keep up with demand, if wait times are a little longer, we’ll be sure to notify you.

If your application is time-sensitive or if there is a deadline you’re trying to meet, please speak with our team to get an understanding of our current turnaround times. You can give us a call on 1300 992 700.

What happens if my application needs to be reviewed by a Credit Assessor?

If we need more information, we’ll refer your application to one of our Qantas Money Home Loan experts. They’ll help to finalise the assessment of your application. It may be that they only need one or two documents, such as updated payslips or a bank account statement. If your situation is more complex however, they might ask you to provide more detail. If you’ve chosen to validate your financials manually, they’ll typically need to request more information from you and it will take longer to assess your application. 

If you’re proactive in responding to requests for more information, your application can still be completed quite quickly.

Are you ready to apply for a home loan that comes with a holiday every year? Start the application process for your Qantas Money Home Loan here.

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