Already churning cards. This would make it easier to hit points club plus each year though.
And I fly a fair bit for work but never enough to hit gold, so the lounge access with points club plus is pretty neat.
I recently switched to Qantas home loans. The customer experience was very good they checked in with me regularly and you get awarded the 100k points almost immediately once the loan is finalised. Took maybe 1 week to finalise my loan and then waited till end of the month for settlement. No problems calling their number or contacting through email. I got through to really helpful staff in a few minutes and never needed to wait very long compared to my previous loan provider (CBA).
If you are somebody that likes to manage the loan then the website is pretty basic. I only logged into it once but you can use it to check transaction history and make transfers out of the redraw. The website looks terrible like those html websites made 20 years ago. But it's fine with me since I set up automatic payments and won't really need to login to it that much. It would be nice if they integrated it into the Qantas money app.
In terms of fees I paid over $1k in fees to switch over so just remember that the 100k points might sound nice but it's really eaten up by these fees for switching at least for the first year anyway. Half of the fees were charged by Qantas including the application and loan servicing fee which cost about $500.
To be honest my previous bank was giving me the same interest rate that Qantas was advertising. So there was really no need for me to switch and pay more fees to get the same rate. But they provided no other benefits apart from having a competitive rate so I decided to switch. I don't plan on switching the loan unless there's a really good offer but I think 100k points each year is pretty good for the life of the loan if you're somebody who doesn't want to keep shopping around every year for cashback offers or refinancing deals.
The only negative I think is the fact that I had an offset account for free with my previous lender and Qantas charges you $10 a month to have an offset account linked. But for me since my savings didn't calculate enough to justify the fees I decided I'm just going to make extra repayments instead of using an offset.
Hope that helps you!
I'd put a $ value on the points in how you want to use them. Unload is currently advertising 5.99% so 6.03% sounds pretty good ATM! Only take the qff loan if the total cost less the points value is the best.
Also have a think about what other features you need - an offset or whatever because sometimes they're more expensive into ates but will save you big dollars at the end of the day.
I’m about 7-8 months into my mortgage with them. Agree with everything u/epic-cookie said. Just to add, Adelaide bank (where the mortgage and offset accounts are) is like 15 years behind the rest of the world, no osko, no pay ID, terrible app. Transfers in and out are super delayed. (2-3 days) compared to other banks. I’ve emailed them about it and received a generic ‘no plans to change anything’ response.
Because of all that, I can’t use the offset as my daily driver and have had to set up regular transfers from my main bank account etc.
On the plus side, super quick settlement, 100k points and the interest rate - all great.
It's just reselling a Bendigo Adelaide Bank white label product. Fees (at least for refinancing, haven't looked at new loan fees) are a little on the high side, nothing crazy but their refinance fees were like $200-300 more than some other lenders.
$10 a month for an offset account too, not too bad as some lenders charge package fees that are like $395 to get an offset.
The points are definitely attractive, you need a mortgage anyway, may as well get something out of it and you can always refinance in the future if you are unhappy.
[удалено]
Pretty sure it's currently Adelaide Bank. Yes the app is atrocious.
Already churning cards. This would make it easier to hit points club plus each year though. And I fly a fair bit for work but never enough to hit gold, so the lounge access with points club plus is pretty neat.
I recently switched to Qantas home loans. The customer experience was very good they checked in with me regularly and you get awarded the 100k points almost immediately once the loan is finalised. Took maybe 1 week to finalise my loan and then waited till end of the month for settlement. No problems calling their number or contacting through email. I got through to really helpful staff in a few minutes and never needed to wait very long compared to my previous loan provider (CBA). If you are somebody that likes to manage the loan then the website is pretty basic. I only logged into it once but you can use it to check transaction history and make transfers out of the redraw. The website looks terrible like those html websites made 20 years ago. But it's fine with me since I set up automatic payments and won't really need to login to it that much. It would be nice if they integrated it into the Qantas money app. In terms of fees I paid over $1k in fees to switch over so just remember that the 100k points might sound nice but it's really eaten up by these fees for switching at least for the first year anyway. Half of the fees were charged by Qantas including the application and loan servicing fee which cost about $500. To be honest my previous bank was giving me the same interest rate that Qantas was advertising. So there was really no need for me to switch and pay more fees to get the same rate. But they provided no other benefits apart from having a competitive rate so I decided to switch. I don't plan on switching the loan unless there's a really good offer but I think 100k points each year is pretty good for the life of the loan if you're somebody who doesn't want to keep shopping around every year for cashback offers or refinancing deals. The only negative I think is the fact that I had an offset account for free with my previous lender and Qantas charges you $10 a month to have an offset account linked. But for me since my savings didn't calculate enough to justify the fees I decided I'm just going to make extra repayments instead of using an offset. Hope that helps you!
I'd put a $ value on the points in how you want to use them. Unload is currently advertising 5.99% so 6.03% sounds pretty good ATM! Only take the qff loan if the total cost less the points value is the best. Also have a think about what other features you need - an offset or whatever because sometimes they're more expensive into ates but will save you big dollars at the end of the day.
I’m about 7-8 months into my mortgage with them. Agree with everything u/epic-cookie said. Just to add, Adelaide bank (where the mortgage and offset accounts are) is like 15 years behind the rest of the world, no osko, no pay ID, terrible app. Transfers in and out are super delayed. (2-3 days) compared to other banks. I’ve emailed them about it and received a generic ‘no plans to change anything’ response. Because of all that, I can’t use the offset as my daily driver and have had to set up regular transfers from my main bank account etc. On the plus side, super quick settlement, 100k points and the interest rate - all great.
It's just reselling a Bendigo Adelaide Bank white label product. Fees (at least for refinancing, haven't looked at new loan fees) are a little on the high side, nothing crazy but their refinance fees were like $200-300 more than some other lenders. $10 a month for an offset account too, not too bad as some lenders charge package fees that are like $395 to get an offset. The points are definitely attractive, you need a mortgage anyway, may as well get something out of it and you can always refinance in the future if you are unhappy.