Online Home Loans: What to know when applying for a home loan online

In today's digital age, we conduct many activities online, such as banking, shopping, and even dating. However, when it comes to home loans, applying online may not be the first option that comes to mind. Nonetheless, there are a number of benefits to obtaining a home loan online, and with proper research, applying for a home loan on the internet is a safe and secure process. 

With online home loans, all application information is stored digitally, making it more secure than traditional home loan applications. Unlike paperwork sitting on a desk, everything is encrypted and securely stored online. Only authorised personnel, such as credit assessors, can access your information. Additionally, more of the application process online is automated, reducing the risk of human error. 

Qantas Money Online Home Loans and security

When it comes to applying for a home loan online, you want to ensure your information is safe. At Qantas - safety is in our DNA and with Qantas Money Home Loans it's no different, we pride ourselves on our security and our customer service. We want to make the online home loan process as quick, easy - and secure - as possible. Here’s how: 

Your details are secure

To validate your financial information, we request that you enter your online banking details. We use a secure method to verify your transaction history. As soon as your details are entered and validated during the approval stage of your home loan application, they are encrypted, separated and securely stored. Once your financial validation is complete, they are permanently deleted and cannot be accessed again.  

We really care about security. That’s why we use secure financial validation software provided by a third party. You can find out more about their general security statement here. This is the same standard used by major Australian banks and finance organisations, so you can be sure your data is safe with us. Your data is protected with:  

• Data and Password Encryption 

• Network Intrusion Detection Systems 

• Physical Security Measures 

• Rigorous Audits and Inspections 

Your information is encrypted

When you apply for a Qantas Money Home Loan, we encrypt your information according to the industry standard Transport Layer Security (TLS) 1.2. This standard is currently used by most banks in Australia, so you can trust that it’s secure. 

Dedicated security team

Our dedicated security operations centre is responsible for securing our system, identifying vulnerabilities and responding to security events. They make sure our security is always up-to-date and state of the art. 

Customer service team

Our dedicated customer service team is available by phone or email  7 days a week from 8am to 6:30pm (AEST) weekdays, and 9am to 5pm (AEST) weekends. They are standing by, ready to help to answer all your questions and help you through the application process. 

What to check before you apply for a home loan online

First and foremost, when looking at online home loans, you do need to make sure you apply with a reputable lender that is offering a true online home loan - and isn’t just collecting your information online and then requiring you to complete additional paperwork or visit a physical location to complete the loan process.  

Things you should know before applying for a home loan on the Internet include:  

1. Upfront costs for quotes or pre-approval

It’s important to note that when applying for a home loan online, it shouldn’t cost you anything. Beware if a lender is trying to get you to pay money before you’ve been approved.  

2. Information gathering

If you’re looking for an online home loan, make sure to read the fine print and understand the lender’s process. This will help you avoid any surprises and ensure that you're choosing a lender that meets your needs. Ultimately, it's important to choose a lender that you're comfortable with and that offers the level of support and convenience that you need. 

3. How does Qantas Money Home Loans operate online?

As you enter your information, our system digitally validates it by conducting valuations on the property, recommending products based on your preferences, verifying your identity, and validating your income and expenses against your bank account details (which are encrypted for security). Our team of home loan specialists is also available to provide assistance when needed, ensuring the perfect balance of technology and human touch. Experience the convenience and efficiency of a truly online home loan with Qantas Money Home Loans. 

4. Customer service

Online home loans should still offer excellent customer service - a home loan application can be complicated and human help is often needed. But if it’s too hard to get in contact with someone, or they take a long time to respond to you, be wary. It’s a good indication that if you have questions or problems with your loan, you may find it difficult to resolve them later in your home loan application.  

Benefits of online home loans

There are lots of benefits to getting a home loan online that you may not have realised. Online home loans can offer things such as: 

1. Lower rates

Online home loan providers often offer lower interest rates for their home loans. They can do this because online lenders have fewer overhead costs compared to traditional banks and lenders. 

2. Easier application

Online home loans also make the application process easier. There is often little paperwork to complete.

3. Apply any time

When applying for a home loan online, you aren't restricted by business hours. You can apply at whatever time suits you.

4. Faster processing

True online home loans are able to assess your application as you complete it. Which means you’ll get an answer quicker

Apply for an online Home Loan today

As long as you do your research and apply with a reputable lender, you’ve nothing to worry about when it comes to getting a home loan online. 

If you want even more information, you can read more about Qantas Money Home Loans security here and you can read our privacy policy here.

Thinking of applying for a Qantas Money Home Loan? Apply online here.   

^* You have to be a Qantas Frequent Flyer member to apply for the Qantas Home Loan. This information has been prepared without considering your objectives, financial situation or needs. You should consider your circumstances before acting on this information.