Frequently asked questions
About Qantas Money Home Loans
How does Qantas Money lend for a home loan?
Do Qantas Money Home Loans offer introductory (honeymoon) home loan rates?
How can Qantas Money Home Loans offer such competitive home loan rates?
Why choose a Qantas Money Home Loan?
Are Qantas Money Home Loans available through brokers?
What's the difference between a bank and non-bank lender?
Considering a Qantas Money 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 is a Lender Protection Fee (LPF) 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 and features
Does a fixed or variable rate better suit your needs?
What is a Key Facts Sheet?
What is the difference between an offset sub-account and an offset account?
What is a variable rate home loan?
Is an offset sub-account a separate bank account?
Can I switch products between the different Qantas Money Home Loan funders?
Can I change from an investment loan to an owner-occupied loan?
What types of home loans does Qantas Money Home Loans offer?
Are there tax considerations for offset accounts and sub-accounts?
What is a fixed rate home loan?
Does the offset balance change my minimum monthly repayments?
What is an offset sub-account and how does it work?
I’m not sure which type of loan or features will best suit my needs. What do I need to know before I apply online?
How do I choose the repayment type for my home loan?
What is an investment loan?
Principal and interest or interest only?
What is a roll-to rate?
Which loans are suitable for an investment property?
What is a home loan interest rate?
What is an offset facility and how does it work?
Applying for pre-approval
What is pre-approval?
When should you get pre-approval for a home loan?
How long does pre-approval take?
How long will my pre-approval last?
How does the pre-approval application process work?
I’ve got pre-approval. What's next?
Will my credit history be affected when I apply for pre-approval?
Can I bid at auction with pre-approval?
Applying for a Qantas Money 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 Home Loans 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 Home Loans assess the value of my property?
What is a published interest rate and 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?
Where can I get help to complete my application?
What documentation will I need to provide?
How does Qantas Money Home Loans assess my household expenditure?
After approval
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 the funder?
Managing your home loan
How often will I receive information on my account?
Can I make changes to my home loan?
How can I make repayments?
How do I redraw on my loan?
Why does my bank account show "Hay", "Hay Limited" or "Cuscal" instead of ColCap Financial?
What are the features of an offset 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 manage my home loan?
Refinance
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?
Financial Difficulty
Security and Privacy
Is it safe to get a home loan online?
How can I tell which emails are genuine?
Is entering my banking details safe?
What is Qantas Money’s Privacy Policy?
How does Qantas Money Home Loans manage data security, to protect my financial information?
What do I do if I receive a suspicious phone call?
Customer support and complaints
Can I speak with someone about my loan options?
Accessibility and disability support
How do I lodge a complaint relating to my Qantas Money Home Loan?
Getting started with the Qantas Money Home Loans app
How do I start using the Qantas Money Home Loans app?
What happens if I’ve deleted the Qantas Money Home Loans app activation code?
Is there a website I can use instead of the Qantas Money Home Loans app?
Can I use the Qantas Money Home Loans app on my tablet?
Can I request mobile app login details for someone who is helping with my banking?
What happens if I can’t access my Qantas Money Home Loans app account?
How do I change my passcode in the Qantas Money Home Loans app?
Getting started with the Qantas Money Atlas Home Loan online portal
How do I start using the Qantas Money Atlas Home Loan online portal?
What if I can’t remember or find my password or User ID?
Is there an app I can use instead of the Qantas Money Atlas Home Loan online portal?
Can I have multiple sessions open at the same time?
Do I get logged out of the Qantas Money Atlas Home Loan online portal when I close the browser?
Is the Qantas Money Atlas Home Loan online portal secure?
Accessing offset account and debit cards using the app
How do I change my PIN in the Qantas Money Home Loans app?
How can I access my card information and options in the Qantas Money Home Loans app?
Can I restrict my card from being used overseas?
Can I open an additional offset account with the Qantas Money Home Loans app?
Can I set up my digital wallet within the Qantas Money Home Loans app?
How do I report a lost/stolen/damaged card in the Qantas Money Home Loans app?
What happens to my offset account if my Qantas Money Home Loan does not settle?
Can I access my offset account with the Qantas Money Home Loans app prior to my loan settling?
How do I activate my Qantas Money Home Loans Debit Card using the Qantas Money Home Loans app?
General app settings and accessibility
How do I make accessing my Qantas Money Home Loans app secure?
Are there any features available for a vision-impaired person?
Can I get app notifications when money moves from my accounts?
Where can I find my statements in the Qantas Money Home Loans app?
Can I change my details in the Qantas Money Home Loans app?
Are there limitations to using the Qantas Money Home Loans app overseas?
Managing payments using the app
Will I be notified in the Qantas Money Home Loans app if I go into arrears?
Can I perform an international payment in the Qantas Money Home Loans app?
What security checks are in place for external payments in the Qantas Money Home Loans app?
Can I set up an internal transfer with a future or recurring scheduled date in the Qantas Money Home Loans app?
How can I make my Qantas Money Home Loan account more secure?
Can I perform an internal transfer between my accounts in the Qantas Money Home Loans app?
Can I set up PayID?
What payment methods are available in the Qantas Money Home Loans app?
Can I manage my home loan repayments in the Qantas Money Home Loans app?
Can I perform a telegraphic transfer in the Qantas Money Home Loans app?
Can I send a receipt of payment in the Qantas Money Home Loans app?
Can I set up an external transfer with a future or recurring scheduled date using the Qantas Money Home Loans app?
How can I see upcoming payments out of my account in the Qantas Money Home Loans app?
Can I set up a periodical payment in the Qantas Money Home Loans app?
All Categories > Frequently asked questions > Types of home loans and features > Principal and interest or interest only?
Principal and interest or interest only?
Principal and interest is the most common type of home loan. This involves making repayments that pay down some of the principal balance plus the interest accrued.
Some people opt for an interest only loan period, which means only the interest accrued is paid, and none of the principal. This involves making repayments for a set time (usually 1-5 years), which are lower than principal and interest repayments.
