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?
What does LVR mean?
What is Lenders Mortgage Insurance (LMI) and when would I need it?
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 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?
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?
How do I use my 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
All Categories > Frequently asked questions > Refinance > Can I use equity in my loan?
Can I use equity in my loan?
If you refinance to a Qantas Money Home Loan you are able to take advantage of an ‘equity release’ from your property (if your loan is below $2M). This means that if the balance of your loan is sufficiently below the value of your property (according to our valuation), you may be able to refinance with a higher loan amount. You can then use the excess money for other eligible purposes (e.g., home renovation, car purchase).
You may also use these extra funds to pay off other debts (e.g., personal loans or credit cards). If you choose to take advantage of this option, it is your responsibility to pay off and (if you choose to do so) close the other loans - this will not be done on your behalf.
Unlike a debt consolidation loan, we will take into account the outstanding value of the other loans when we calculate the total amount that we are willing to lend you. This means that the amount you can borrow from us is lower than if those loans did not exist.