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?
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 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 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?
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 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?
Where can I get help to complete my application?
What documentation will I need to provide?
How does Qantas Money 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 can I make repayments and redraw on my home loan?
How do I redraw on my loan?
What are the features of an offset account 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?
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 online banking details safe?
What is Qantas Money’s privacy policy?
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 > Applying for a home loan > How does the application process work?
How does the application process work?
With our easy online application process, you can apply anywhere and on any device. It’s quick too, as long as you have all the information on hand, your application will only take about 30 minutes to complete. Keep reading for an overview of what you will need.
Our online process is a formal application
Which means we’ll run a credit check which will appear as a credit enquiry on your credit file, so please consider whether you’re ready to formally apply.
Beginning the application
After first checking your eligibility, we'll ask some basic questions about the property you'd like to purchase. We’ll run a check on the property to make sure we can lend against it, then find out what you’re looking for in a home loan. We’ll then recommend a loan product for you (for example, a Variable Live-In Principal and Interest home loan or a 2-year Fixed Live-In Principal and Interest home loan).
The next step is to confirm your identification (your name and date of birth), then digitally verify a form of your ID. You can use your Driver Licence, a passport, your Medicare card or a foreign passport with an Australian Visa.
We’ll then run a credit check.
About your financials
When applying for a Qantas Money Home Loan, we’ll need information from you about your current financial situation. This will include an estimate of your income and expenses, as well as information about your current commitments (such as any existing home or car loans).
After you submit your financials, we also need to verify your Qantas Frequent Flyer membership number. If you’re not a member at the time you apply, you’ll have the option to join instantly - and for free - at this stage of the application, based on the information you’ve already entered into the form. Alternatively, you can join free here before starting your application. if you’re not a Qantas Frequent Flyer member, you can? Join free here before commencing your application.
The final step of the process is to verify your information - which is easy and secure. Simply link your bank account(s) and the bank-grade technology we use can fetch read-only copies of your transaction statements. Rest assured that no one at Qantas will see your login details.
If you’re not comfortable with digital validation, you can manually upload copies of your transaction statements. These will be reviewed by a Qantas Money Home Loan expert. Please note that this means your application will take longer to process.
Once this is complete, you’ll be notified of the outcome of your application. If you're approved, you can progress to the settlement process. If there's something we need to look into further, we'll let you know and one of our team members will be in touch shortly.