Bank of Queensland Home Loan Review

Bank of Queensland Home Loan Review

Read our Bank of Queensland Home Loan Review Here:

For home buyers, the Bank of Queensland offers a fixed rate home loan featuring 80% LVR, a discount rate of $150,000, and a 2-year fixed rate of 2.09% p.a. interest.

For property investors, the Bank of Queensland offers a fixed rate home loan featuring 80% LVR, a discount rate of $150,000, and a 3-year fixed rate of 2.59% p.a. interest.

Home Loan Comparison

About Bank of Queensland

The rich history of the Bank of Queensland spans 146 years. Established as a permanent building society in 1874, it was converted into a bank in 1887. It became a publicly-traded company on ASX in 1971.

Fast forward to the new millennium, the Bank of Queensland purchased St. Andrews Insurance in 2010. It then acquired Virgin Money Australia three years later.

Today, the Bank of Queensland has more than 160 branches across Australia – becoming one of the leading independent regional banks offering a range of personal banking products and services.

Benefits of Bank of Queensland home loans

If you are buying your first home or your next house, you will be able to:

  • Speak to the same person every step of the way
  • Access competitive home loan rates
  • Borrow up to 95% LVR

If you are planning to refinance your home loan from another bank, you will be able to:

  • Refinance new loans to BOQ amounting to $250,000 or more
  • Enjoy a loan-to-value ratio of 80% or less
  • Borrow up to 90% LVR
  • Receive a $3,000 cashback when you refinance an existing home loan between October 12, 2020 and December 19, 2020 (settled by February 28, 2021)

If you are buying an investment property, you will be able to:

  • Speak to the same person every step of the way
  • Access competitive home loan rates
  • Borrow up to 90% LVR

Bank of Queensland mortgage features

Bank of Queensland offers fixed and variable rates for owner-occupiers and investors. BOQ mortgage features include:

  • Borrow up to 95% LVR
  • Combine a mortgage with an offset account, credit card, transaction account, and other BOQ products
  • Some mortgages come with a 100% offset account (depending on the loan product and your borrowing situation)
  • Some home loans come with a redraw facility

BOQ Home Loans for Medical Professionals

Whether you are buying your first home, renovating your property, or refinancing an existing mortgage, BOQ loan specialists can help you find the right product that best meets your needs.

BOQ offers two types of loans for medical professionals: banking package and basic home loan.

The Banking Package gives you the ability to combine five separate loan accounts for one annual package fee.

Features and benefits:

  • Choose between variable or fixed rate
  • Borrow up to 90% LVR
  • Annual fee of $495
  • Option to combine a variable rate home loan with an offset account to reduce interest payments
  • Comes with a platinum credit card with premium rewards
  • One Account banking with a favourable interest rate and optional overdraft

The Basic Home Loan offers a low interest rate, optional One Account, and redraw facility for managing surplus funds.

Features and benefits:

  • Choose between variable or fixed rate
  • Borrow up to 90% LVR
  • $10 monthly fee waived when the transactional account is used for repayment debit
  • One Account banking with a favourable interest rate and optional overdraft

Who Can Apply for a Bank of Queensland Mortgage?

To be eligible for a Bank of Queensland mortgage, you must be:

  • 18 years old or above
  • A permanent resident of Australia
  • A resident with a regular source of income

If you have met these requirements, you must then prepare the following documents before you apply:

  • Proof of identity, such as passport, driver’s license, or birth certificate
  • Proof of income, such as your most recent payslip
  • Proof of assets and liabilities such as savings accounts, stocks, and debt

To compare Bank of Queensland home loans with offerings from other lenders, read through our mortgage reviews. Makes Cents makes comparing featuring of home loans heaps easier. Start comparing today!

Our Bank of Queensland Home Loan Review is just one of many.

Home Loan Comparison



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