Qantas has today announced ColCap Financial as a second lender for Qantas Money Home Loans, giving members a greater choice of rates and features as the demand for points-earning home loans continues to grow.
Since launching in February 2023, Qantas Money Home Loans has surpassed $3 billion in total settlements, with members earning more than 1.2 billion Qantas Points. New loans issued have grown 30 per cent year on year, driven by strong demand from borrowers and property investors on the eastern seaboard refinancing away from the major banks.
The ColCap Financial Group, one of Australia's largest non-bank lenders, will fund Atlas, a new range of Qantas Money Home Loans. The Atlas range will sit alongside existing loans funded by Bendigo and Adelaide Bank, offering members a wider choice of competitive rates and features, including a streamlined Easy Refinance pathway that allows eligible borrowers to apply in minutes.
Qantas Loyalty and Customer CEO Andrew Glance said: "When we launched Qantas Money Home Loans, we knew members liked the idea of earning points on what is for many their largest monthly expense. Delivering more than a billion points back to members shows just how popular earning points on home loans has been.
"The number of members taking out Qantas Money Home Loans is up 30 per cent year on year, and bringing ColCap Financial on board means we can say yes to more members and support further growth."
From December, Qantas Frequent Flyers will also be able to earn up to 140 Status Credits each membership year across ten everyday categories, including banking and home loans for the first time.
"Home loans have quickly become a major driver of how our members earn on the ground, sitting alongside credit cards, everyday shopping, and insurance," added Mr Glance. "The ability to earn Status Credits from December makes the Qantas Money proposition even more compelling, giving members more ways to earn and retain their status tier alongside flying."
ColCap Financial Chief Executive Officer and co-founder Andrew Chepul said: "We are pleased to partner with Qantas to offer its members fully featured and competitively priced home loans.
"Qantas members will benefit from the borrowing capacity and flexibility of our funding, which leverages our 20-year track record and portfolio of $25 billion in home loan assets under management."
Atlas is available from today for members refinancing an existing home loan, with products for new property purchases to follow in the coming months.
Qantas Money Home Loans provide 100,000 Qantas Points upon settlement and an additional 100,000 points every year for the life of the loan. A member who has held their loan for five years earns 600,000 points, enough to book two return Business Classic Flight Reward seats from Sydney to Los Angeles.
Members with more than one eligible loan, including an owner-occupied home and an investment property, earn points across both.
