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Qantas Money Home Loan: 100,000 Qantas Points Per Year for up to 30 Years - Current Rate 4.67% (4.73% Comparison)

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Qantas Money Home Loan: 100,000 Qantas Points Per Year for up to 30 Years - Current Rate 4.67% (4.73% Comparison)
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Dyl on 06/02/2023 - 07:49 qantasmoney.com (982 clicks)
Last edited 06/02/2023 - 14:41 by 1 other user

Qantas Money now does homeloans, 100k Qantas points every year of the loan.

First is at settlement, next is 3 months after settlement anniversary and yearly thereafter up to 30 years.

Qantas Frequent Flyer members will earn 100,000 Qantas Points upon settlement of their Qantas Money Home Loan. Qantas Frequent Flyer members will also earn an annual bonus of 100,000 Qantas Points which accrues three months after the settlement anniversary of their Qantas Money Home Loan up to 30 years, provided the loan is in compliance with the Qantas Money Home Loans Points Eligibility Policy, not in arrears or default and the loan is not the subject of hardship relief or assistance. In the instance of joint applicants, the Qantas Points by default will be awarded to the primary applicant annually unless you opt to either split the points between the secondary or primary applicant or award the points in full to the secondary applicant. Qantas Points will be credited to the member’s Qantas Frequent Flyer account within 8 weeks.

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closed Comments

  • sixthirty on 06/02/2023 - 07:54
    +2

    If you're not someone who wants to keep refinancing for cash bonuses this isn't actually a bad deal. Works out to around a Return Business Flight anywhere in the world every 4.5 years (for a couple)

      • sixthirty on 06/02/2023 - 08:03
        +12

        Did you read my post? I said it's a Return Business Flight for a couple every 4.5 years.

          • Papa Huggies on 06/02/2023 - 09:57
            +1

            @CptnObvious: Look I'm not big on having to fly business (I just sneak in some edibles before/ through security check and then sleep through any 8-12hr flight, so as long as economy is reasonably comfortable it's OK) but it's petty and sad to try and shame other people for having a good time.

            • CptnObvious on 06/02/2023 - 10:57
              -4

              @Papa Huggies: We need more judgemental people to help steer this society right. It's so decadent these days - but I guess that's what fuels the economy.

              • Papa Huggies on 06/02/2023 - 11:05

                @CptnObvious: Should've known better by your username. You do you my guy

              • sixthirty on 06/02/2023 - 11:16
                -1

                @CptnObvious: Spoken like someone who hasnt flown business.

                • CptnObvious on 06/02/2023 - 11:26
                  -1

                  @sixthirty: Twice only paid for by corporate. Did not enjoy it one bit as it only provides 50% better sleep - not justifiable valuewise if I had to pay out of my own pockets. Long hauls I tire myself out before the trip and have plenty of booze at the lounge - gets me through the flight quite well. The same money/points can be spent on future trips, or donated to charities if you have a kind heart. Do you have a kind heart?

              • tm001 on 06/02/2023 - 17:30

                @CptnObvious: And YOU are the one who sets the rules what is "Right" and what is not.
                You remind me of The ONE and ONLY Party back in the communist's dictatorship.
                I feel physical sickness when meeting people like you.
                If someone makes legal money they should be able to spent them (legally) as they wish.

          • tm001 on 06/02/2023 - 17:35
            +2

            @CptnObvious: You are on OzBargain site. What is better use (= better $$$ value) of QFF points?
            If you don't know then you are really just trolling.

            • CptnObvious on 06/02/2023 - 20:26
              +1

              @tm001: Spending on less decadent economy flights. Also, shop smartly and be picky about when you do choose to go with the business class flights if you insist on going or otherwise when they are on classic rewards points only. Use points to bid for upgrades and not simply pay outright when your brain feel like it. How's that?

          • Dyl on 06/02/2023 - 20:32

            @CptnObvious: It's quite an efficient use, 450k pts instead of potentially $10-15k+

            • CptnObvious on 06/02/2023 - 20:32
              +1

              @Dyl: Spending $10-15k on flights is decadent. You could go on a nice cruise with that money, or donate the excess to charity.

              • Dyl on 06/02/2023 - 20:36

                @CptnObvious: Personally I use the points for economy so I don't disagree, but for others who value business class the $ per pt ratio is insanely high

                I'd rather ~2.3x the economy flights or whatever the ratio is

        • Dyl on 06/02/2023 - 20:25

          Business class for a couple would be closer to 6 years, 144k each way per person. Around 6.5 you can do 2x round the world OneWorld flights.

          Not sure if you edited post but could've sworn it said yearly at first lol

    • pepto on 06/02/2023 - 10:50

      The issue with Qantas is that you have to pay taxes on top. Probably about $1200 total for two people return to the UK for example.

      Last year I flew Brisbane to London and it cost 560k points and over $2000 in taxes for a family of 4 economy.

      • Lunarboogie on 06/02/2023 - 10:56

        Yikes. That's poor use of your points. You can get so much better if you're prepared to be flexible. In this case, I would have just used cash for the fares and saved or sold the points.

        • Thor Bargain God on 06/02/2023 - 12:22

          The Qantas website states that it is not possible or even possibly illegal to attempt to sell points (given that the transfer would not be acknowledged or affected in their system). It says you can only transfer them to direct family members.

          • Lunarboogie on 06/02/2023 - 12:59

            @Thor Bargain God: There are plenty of easy ways to sell points, if you're prepared to take a risk. In this case, your 560k could have easily converted to $5600 which would have paid for the fares outright and saving you $2000 in taxes.

          • strayan on 06/02/2023 - 13:05

            @Thor Bargain God: Illegal? That’s just absurd.

            The cops don’t kick down your door because you sold qantas points.

            • Thor Bargain God on 06/02/2023 - 13:26

              @strayan: There are plenty of illegal things the cops don't enforce - especially stuff of this nature. Selling something you don't have the right to sell and does not confer ownership in the purchaser is fraud. Singing a lewd song in public is a criminal offense in most states, but it happens every week at the soccer, right in front of the face of the police. There are so many examples.

      • Thor Bargain God on 06/02/2023 - 13:38

        Points are currently valued at 1.8c per pointhacks. I believe some choices for use of points are of greater value than others when flying in terms of upgrades etc. But just based on this alone, I work out the total cost to be 560k x 1.8c + $2,000 = $12,080. Per person, that's $3,020 return, or $1,510 one way. I haven't checked lately, but isn't this sort of standard price, or at least ball-park, for a flight to the UK from Australia?

        • Nom on 06/02/2023 - 17:41

          Points are currently valued at 1.8c per pointhacks.

          These valuations are made based on the cost of business class upgrades etc. - if you have 100,000 points and you use them to fly business class to Singapore at a cost of $1800, then you arrive at a value of 1.8c

          … But I would just go to Singapore for less than a third of that price in economy with a ghetto airline, so to me those points are worth nowhere near 1.8c 🤷🏼‍♂️

          In the past I've swapped large numbers of Qantas points for gift cards, because I get much more value for that than for a business class flight that I would never have chosen otherwise 🤷🏼‍♂️

          • pepto on 06/02/2023 - 18:52

            @Nom: You probably still have to pay 3-400 dollars in taxes for that flight to Singapore so not quite 1.8c, likely more like 1.2-1.4c.

          • Thor Bargain God on 07/02/2023 - 00:28

            @Nom: Fair enough, but I really hate the cramped conditions in economy, even on shorter domestic flights. Anything to brighten the experience would be more than welcome on a very long flight. I get jealous when watching movies from the 50's and 60's with the massive, comfortable seats and leg room, when flying used to be viewed as glamorous. I could do without people kneeing me in the back etc. I've predominantly flown economy till now, but I must admit that my tolerance for it is waning each year I get older.

        • pepto on 06/02/2023 - 18:49

          Yep, the ultra long haul Perth to London direct flights were super expensive at the time, over $3k per person plus when I booked (December 2021) Covid was still a big issue and booking with points guaranteed free cancellation right up to flight time which was great insurance in case something went wrong.

          Still hated paying all the tax but at the time it was a good use of points for us.

      • Dyl on 06/02/2023 - 20:27

        US is good for this, AA has no carrier fees and the taxes are as low as $6/flight

        Can fly to the US return and have multiple domestic flights for around $200 total if you find an AA international flight

        Almost all others have either carrier fees (Qantas, Emirates, etc) or insane landing fees (UK). UK you can get around by adding a Europe leg first then the UK stop.

  • Shoocat on 06/02/2023 - 07:54
    +1

    You'd have to compare the value of points to the sign up bonus many places offer. On balance, assuming all other variables are equal I'd much rather $3k cash and then refinance in a few years to someone else.

    • Dyl on 06/02/2023 - 07:58

      It's better for set and forget, if you're rotating loans a lot 100k pts (~$1k value) is a crappy sign up bonus

      • Tiggrrrrr on 06/02/2023 - 13:12

        Or ~3k over 3 years?

        How often are people swapping loans?

        • El-Rhi on 18/02/2023 - 14:16
          -1

          Every 3 months

        • a1234my on 19/02/2023 - 15:36

          How often can switch loan? Will it raise red flag of hurting credit score or success rate ?

  • guidedlight on 06/02/2023 - 07:55
    +4

    It looks like the actual mortgage is provided by Bendigo & Adelaide Bank.

  • Danstar on 06/02/2023 - 07:55
    +1

    minimum loan amount is $300,000.

  • tooten69 on 06/02/2023 - 08:11
    • 300k - 3M
    • 10% deposit
    • Only established properties
    • 100% offset an extra $10 a month

    First 100k paid on settlement

    Rates and fees: https://www.qantasmoney.com/home-loans/rates-and-fees

  • dtingy on 06/02/2023 - 08:18

    i believe this is valid for refinancing loan as well. need to take into consideration of discharge fee from current bank and establishment fee/setting up fee to new bank. each side may incur $350 so total of approx. $700 required to pay.

  • DingoBilly on 06/02/2023 - 10:54
    +2

    So it's basically $1000 a year. Not good if you refinance regularly. But if you tend to set/forget it's pretty good.

    • b0b0 on 12/02/2023 - 20:43

      If on average you refinance every 3 years or so then this works out roughly similar to those $3k sign up bonus

  • CheapBrah on 06/02/2023 - 11:26

    Curious, can you refinance a variable portion of a mortgage when it's split between fixed and variable? I'm guessing the answer is no.

    My bank is taking the piss on my variable loan because the vast majority of my loan is fixed at 1.9% and hence they know I won't leave over the high variable rate

    • ozbargainerlife1 on 06/02/2023 - 11:42
      +1

      No

    • megadeth on 09/02/2023 - 08:29

      Could worth checking if variable and fixed splits are on different properties. But definitely no if it's all on one property.

  • amorn on 06/02/2023 - 11:53

    homeloan includes investment property as well?

    • Tiggrrrrr on 06/02/2023 - 14:15

      At a higher rate

  • MrThing on 15/02/2023 - 15:36
    -1

    I wish qantas would focus on flying planes and customer service

    not all this extra crap (insurance, loans, car hire, hotels, green tier, online shop, yada yada)

    they cant even get their bread and butter right……flying planes and good customer service

    gunna be a neg from me

    • Danstar on 16/02/2023 - 09:04

      They would have different divisions. It's not like the pilots or flight attendants will be processing home loan applications

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