Home Loan Application

How do I apply for a home loan?

We will accept your application by telephone, online or in person at one of our branches. Our Home Loan Application Checklist and Guide can help you through every step of the process.

For more information view our Home Loan Application Process Page.

How long will it take for my home loan application to be approved?

Once you've submitted your application and supporting information, conditional approval is usually obtained within 48 hours, subject to satisfactory credit checks and verification of financial and property information.

Your Home Loan Specialist can provide more information about approving your loan.

Will someone need to inspect my property to establish its value?

Perhaps. Depending on the specific attributes of your loan application, Qudos Banks may need to have your home valued before loan approval.

For more information regarding our home loan application process, visit our Home Loan Application Process page.

Home Loan Features

Rate locks

What is a rate lock?

A rate lock for a fixed rate home loan enables fixed rate home loan applicants to hold the current fixed rate for their chosen term for a 90 day period starting from when the application is applied.

The fee associated with a rate lock is $649, and this fee must be paid up front. The rate will be locked in once the form is received and the fee is paid in full. If you are switching from another product to a fixed rate loan and require rate lock, the fee will be deducted from your nominated Qudos account or you can pay by credit/debit cards. For new loans, If the loan is not funded prior to the rate lock expiry, the rate lock fee is still payable. If the fixed rate changes within the 90 day period, the rate lock will guarantee you the lower of the current rate or rate locked in at the time the rate lock application is applied. Please call us for more information or to apply for a rate lock please complete the rate lock form.

How do I apply for a rate lock?

Once you've decided to take up the lock in feature, simply complete and sign our Lock In Request form. Once completed, e-mail it to your Lending Specialist who will arrange to lock in the rate for you. Alternatively our branch or contact centre teams can provide this form at any time during the application process.

If you have an existing fixed rate home loan that is about to end or you wish to switch to a fixed rate loan, you can also lock in the rate. Give us a call to discuss your rate lock options.

What rate is locked in for 90 days?

The fixed rate which is current on the day of lock in, is the rate which is guaranteed for a period of 90 days from the time the rate lock fee is paid.

What is the rate lock fee amount?

The rate lock fee amount is $649.00

Under what circumstances could the fee be refunded?

The rate lock fee will only be refunded if the application is declined. No refunds apply if you choose not to proceed with your application

Can the 90 days be extended?

If the 90 days has expired and you're interested in locking in for a further 90 days, you will need to pay a further fee. The rate applicable will be the rate at time the second fee is paid.

What happens if interest rates decrease?

At settlement, if the usual fixed rate is lower than the locked in rate, you'll receive the lower rate. For example, a rate locked at 3.99% on the 5 October, settlement occurs 12 November and the usual rate on the 12th is 3.69%, you'll receive the 3.69%.

What if I wish to have a number of fixed rate splits, are there additional fees?

Yes. A fee is payable on every fixed rate split that is subject to a rate lock in.

Package loans

What is a package home loan?

A package home loan is a home loan that combines your home loan with a host of other products and features into one bundle. This package combines our Low Cost Home Loan with a range of financial benefits and discounts so you can enjoy benefits such as a Personal Loan application fee waiver, Overdraft application fee waiver and a Platinum credit card annual waiver fee.

Qantas Points

How soon after my loan starts will I receive my Qantas Points?

Once your loan is funded, your points are calculated at the end of each month and are generally credited to your Qantas Frequent Flyer account within 4 weeks.

What are some of the rewards I can get with the Qantas Points earned?

Qantas points can be redeemed on a huge range of items. Spend your Qantas Points on flights and hotels to enjoy more travel for you and your family or be rewarded with a range of products available in the Qantas Store.

Construction Loans

What is a construction loan?

A construction loan is a loan that allows you to build or renovate your home with progress payments provided to your builder once each stage of the project is completed.

How does a construction loan differ a home loan?

Unlike home loans, which you typically receive the whole loan amount at settlement, construction loans allows funds to be drawn in stages, as you receive progress payment requests from your builder and tradespeople.

Do you have to put a deposit on a building contract?

Builders will often require a deposit before plans are drawn up and/or building work commences. Please speak to your builder as these requirements vary from builder to builder.

How long do you have to build with a construction loan?

The loan will allow up to 12 months to complete construction.

Fixed Rate Home Loans

What is a fixed rate home loan?

A fixed-rate home loan locks in a specific interest rate for your home loan for a specified amount of time.

What is the maximum term I can fix my rate for?

The maximum term that Qudos Bank offers for fixed rate home loans is 5 years. We offer fixed rate home loans between 1-5 years.

Can I re-fix my loan at the end of a fixed rate term?

Potentially yes. Prior to the expiry of your loan we will write to you to get in contact with us to discuss your options.

Are offset accounts available on fixed rate loans?

No, unfortunately offset accounts are not available on fixed rate loans. However, we offer 100% multiple offset accounts on many of our other competitive home loans.

Variable Home Loans

What is a variable rate home loan?

Unlike a fixed-rate home loan which locks in a certain interest rate, a variable home loan is a home loan on which the interest can vary and fluctuate up and down.

Can I split my home loan between variable rate products? 

Yes, we offer the option for you to divide your home loan into multiple accounts across different variable rate products so you can access the different loan features in the way that suits you.

Can I switch to a fixed rate home loan from a variable loan?

Yes. You can switch from a variable rate loan to a fixed rate loan at any time so long as the loan amount and structure of your loan does not change.


On this page >

Home Loan Application FAQs
Home Loan Features FAQs
Qantas Points FAQs
Construction Loan FAQs
Fixed Rate Home Loan FAQs
Variable Rate Home Loan FAQs