Frequently asked questions
About Qantas Money Home Loans
How does Qantas Money lend for a home loan?
Does 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?
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 Home Loans 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 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 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 do I redraw on my loan?
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 e-banking for 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 & 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
All Categories > Frequently asked questions > Types of home loans & features > What is a variable rate home loan?
What is a variable rate home loan?
A variable rate home loan is one where the interest rate goes up and down with market fluctuations, which are influenced in part by the official cash rate set by the Reserve Bank of Australia (RBA). There are other factors that can also contribute to interest rate movements over the life of a home loan.
The two main types of variable rate home loans are:
- Standard variable rate home loans - these often include features such as redraw facilities, and an offset account(s) , where you can use your savings to pay less interest on your loan; and
- Basic variable rate home loans - these can offer lower interest rates, but typically have fewer, if any, of the features of a standard variable rate home loan.
Variable rate home loans are the most popular type of home loan, as they provide more features and flexibility than fixed rate home loans and usually give you the option to pay your loan off earlier.
