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 do I redraw on my loan?
Your Qantas Money Home Loan comes with a redraw facility, which means you can access any extra payments you’ve made on your loan - free - using online banking.
Redrawing on your Qantas Money Home Loan is easy. Simply select your home loan as the ‘From account’ when performing a funds transfer. Then, if you have an offset account, transfer the cash there and use your Qantas Money Home Loans Visa Debit card to immediately access the funds. Alternatively, you can transfer the cash to another account and withdraw it in up to two business days.
Home loan redraw pros and cons
A redraw facility can be useful if you ever need cash at short notice to cover unexpected costs. Making extra payments also reduces the interest you pay on your home loan, and could earn you more than a savings account, as well as potentially save on tax.
Some lenders limit the number of extra payments you can make on your home loan in a certain period, or how much you can redraw at any one time. With Qantas Money however, you can make unlimited repayments on a variable rate and repayments up to $20,000 per annum on fixed rates. What’s more, unlike many other lenders, Qantas Money offers redraw on both fixed and variable rate loans.
About the Qantas Money redraw facility
Redrawing on your loan won’t increase your repayments or extend the term of your home loan, as you’re simply withdrawing the extra payments you’ve made.
You need to be at least one month ahead (you can redraw any additional funds paid beyond the current month); and the minimum redraw amount is $1 per transaction.
When accessing a redraw where there is more than one person on a loan, both you and the other applicant need to authorise the transaction. If however, you both would rather transact independently, you can advise us by calling 1300 992 700.