BOQ Home Loans
Read on to learn more about BOQ's key home loan interest rates and features.
Compare BOQ home loan rates
The table below contains a selection of BOQ's latest home loan offers.
Summary:
- About BOQ
- BOQ home loans
- BOQ mortgage features
- How to apply for a home loan with BOQ
- FAQs: BOQ home loan application
About BOQ
BOQ, known as the Bank of Queensland, is one of the oldest banks in Australia, having formed as the Brisbane Permanent Benefit Building and Investment Society in 1874 - the first permanent building society in Queensland. It became known as Bank of Queensland in 1970, and now has over 250 branches and 3,000 ATMs across Australia, with almost $60 million in total assets, placing it among the largest financial institutions in the country.
Whether you're a first home buyer, a refinancer or a property investor, BOQ has plenty of home loan products to suit a variety of borrowers' needs.
Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:
Lender | Advertised rate | Comparison rate* | Monthly repayment | Rate Type | Offset | Redraw | Ongoing Fee | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Pre-approval | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Variable | More details | ||||||||||||
| FEATUREDLIMITED TIME OFFER | Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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| Variable | More details | ||||||||||||
| FEATURED100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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| Variable | More details | ||||||||||||
| FEATUREDZERO APPLICATION FEES | Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of January 17, 2022. View disclaimer.
What home loans does BOQ offer?
BOQ offers home loans to owner-occupiers and investors, including:
- The Intro Rate Home Loan: A home loan with a lower introductory rate for two years, no valuation or application fees, and a number of useful features
- The Economy Variable Home Loan: A simple, no-frills home loan that also has a free unlimited redraw facility and allows for flexible repayments
- The Clear Path Home Loan: A fully featured home loan with a higher interest rate than BOQ’s other loans.
- Fixed Home Loans: BOQ offers numerous fixed-rate home loans with set repayments for between one and five years.
BOQ also offers other types of loans, such as line of credit loans for things like renovations and construction loans for building a home. It also offers different types of repayments, like interest-only or principal and interest.
Lender | Advertised rate | Comparison rate* | Monthly repayment | Rate Type | Offset | Redraw | Ongoing Fee | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Pre-approval | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Variable | More details | ||||||||||||
Economy Home Loan (Principal and Interest) (LVR < 80) | |||||||||||||
| Fixed | More details | ||||||||||||
Standard Fixed Rate Home Loan (Principal and Interest) (New Customer) 2 Years ($150k+, LVR < 80%) | |||||||||||||
| Variable | More details | ||||||||||||
Economy Investment Loan (Principal and Interest) (LVR < 70) | |||||||||||||
| Fixed | More details | ||||||||||||
Standard Fixed Rate Home Loan (Principal and Interest) (New Customer) 1 Year ($150k+, LVR < 80%) | |||||||||||||
| Variable | More details | ||||||||||||
Economy Investment Loan (Principal and Interest) (LVR < 80) | |||||||||||||
Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of January 17, 2022. View disclaimer.
BOQ mortgage features
Accompanying BOQ's home loan products are the following features:
- Fee-free: Some of BOQ’s home loans come without certain fees, such as application fees, ongoing fees, redraw fees, settlement fees and valuation fees.
- Split loans: With BOQ, you can split your loan into different repayment types, such as 50:50 fixed and variable, depending on your preferences.
- Offset account: Offset accounts up to 100% are available for certain home loans.
- Redraw facility: Some home loans also come with a redraw facility, allowing you to withdraw extra repayments you’ve made. Certain loans allow fee-free redraws.
- Additional repayments: Some BOQ home loans allow you to make unrestricted additional repayments into your home loan, allowing you pay it off faster. Others have restricted extra repayments.
- More frequent repayments: You can choose to make repayments weekly, fortnightly or monthly.
Not all BOQ home loan products will have all of these features. Be sure to consult your broker or a mortgage specialist from BOQ for more details, and remember to check the Ts and Cs for more info on a loan’s fees, charges, interest rates and features.
You can also get up to $2,500 cashback when you refinance to a BOQ home loan (terms and conditions apply).
How to apply for a BOQ home loan
Eligibility criteria
To be eligible to apply for a BOQ mortgage you generally need to:
- Be 18 years old or over
- Be an Australian citizen or permanent resident
- Have a regular source of income
- Demonstrate your ability to service the loan
- Have never been bankrupt (for certain loans)
You can apply for a BOQ home loan online and then following the prompts or by phone on 1300 79 56 12.
Documents and information needed
To ensure a straightforward application with BOQ you should have the following documents handy:
- A form of identification document (e.g., driver's license, birth certificate, passport)
- Your annual income and estimated assets
- Your estimated expenses and liabilities
- A current email address and mobile phone number
BOQ has a home loan application form here, which contains all the relevant information you’ll need to fill out.
BOQ Frequently asked questions
1. How long does it take for BOQ to process my home loan application?
The time it takes for an application to be processed can vary, but generally, it can take several weeks at least to be fully processed and approved, as BOQ needs to verify your identity, assess your application in terms of your finances and transfer security of the property.
Pre-approval generally takes less time than an unconditional approval, and you should receive a pre-approval within one business day of completing your application. A BOQ home loan expert can help tell you more.
2. How does BOQ verify my identity?
Lenders such as BOQ will verify your identity electronically or over the phone, using the personal details you provided during your application.
3. Why was my BOQ home loan application unsuccessful?
Your home loan application can be unsuccessful if you don't meet the eligibility criteria or haven't supplied all the documentation required for the process to move forward.
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