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Can I use equity in my loan?

If you refinance to a Qantas Money Home Loan, you may be able to take advantage of an ‘equity release’ from your property depending on how much you are looking to borrow. 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. non-structural home renovation, car purchase).

With Qantas Money Basic and Offset Home Loans, equity release is available on loans under $2M. For our Atlas Home Loan, equity release is available for loans under 90% LVR (limited to 20% of the security value if the LVR is over 80%). Find out more.

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.

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Can I use equity in my loan?

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