BOQ home loans
Bank of Queensland is one of Australia’s leading regional banks. Established in 1874 as the Brisbane Permanent Benefit Building and Investment Society, the institution became a trading bank in 1942 and adopted the Bank of Queensland name in 1970.
Bank of Queensland offers a wide range of mortgages for first time home buyers, investors, upgraders and those looking to refinance their home. Bank of Queensland home loans tend to charge rates below the market average.
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Why choose BOQ
BOQ Home Loans
Home Loans calculator
Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.
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- All calculations are estimates only; they are not guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- It is assumed that data entered into the calculator, including interest rates, do not change for the lifetime of the loan - unless specified.
- The Present Value provided by this calculator is displayed as the amount labelled 'Loan amount'.
- At the end of the interest-only period, the rate may change. For this calculation, rate switches to the current rate.
- The current rate is today’s average big 4 owner occupier advertised discounted variable rate (LVR 80%), unless you have inserted your own rate.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given some months are longer than others, interest charged may vary depending upon the month.
- One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus each year has 364 days.
- The calculator uses the unrounded repayment to derive the home loan summary line graph and repayment schedule. However, institutions may round repayments to the nearest cent.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Consider whether you need financial advice from a qualified adviser.
- After the interest only term ends, your repayments will change based on the current* interest rate. This rate is subject to change. Read our full disclaimer.
Contact a mortgage broker
BOQ homeloans are vailable through brokers who can help find the right loan and manage your application at no charge.
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Bank of Queensland customer service
Bank of Queensland operates a 24/7 call centre for customer enquires. There is no Live Chat service but you can access the BOQ property app when you are considering your property purchase. Home loan applications and regular banking can be done online.
- Customer service centre operates 24/7
- Mobile app
- Online banking
- Branch
- Mobile banking staff
- BOQ property app
How to Apply
Customers can apply for a Bank of Queensland loan online. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:
- Personal identification material.
- Proof of income and other earnings.
- Proof and type of employment.
- Details of current loans, debts and liabilities.
- Personal insurance documents.
About Bank of Queensland home loans
Bank of Queensland tends to offer a slightly thinner range of mortgage options than Australia’s big four banks. However, Bank of Queensland still caters to a variety of home loan customers. Their offering includes:
- Owner-occupier home loans
- Investor home loans
- Lines of credit
- Self-employed (low-doc) loans
Bank of Queensland customers are free to choose from several interest rate options, including:
- Variable interest rates
- Fixed interest rates
- Principal-and-interest home loans
- Interest-only home loans
Bank of Queensland home loans may also offer specific features, such as internet banking, ATM access, mortgage offset facility and redraw facility.
Customers who bundle transaction and home loans products can enjoy discounted rates and fee waivers on their home loan.
Bank of Queensland home loans tend to charge moderately low interest rates and moderate upfront and monthly fees.
Bank of Queensland home loan rates
Bank of Queensland mortgage rates differ from product to product, but in general their interest rates tend to be moderately low for both owner-occupiers and investors.
As a general rule, owner-occupiers are charged lower interest rates than investors, and borrowers who choose to pay principal-and-interest get lower rates than interest-only borrowers.
Bank of Queensland home loan rates can be categories into four clear tiers:
- Owner-occupiers with principal-and-interest mortgages (lowest rate)
- Investors with principal-and-interest mortgages (second-lowest rate)
- Owner-occupiers with interest-only mortgages (second-highest rate)
- Investors with interest-only mortgages (highest rate)
Bank of Queensland home loans also charge differently for variable loans and fixed loans. The interest rate charged on fixed loans varies with the term length. Customers can fix their rate for up to five years, though rates tend to go up as the term lengthens.
Bank of Queensland home loans review
While Bank of Queensland is based in Queensland, they have 190 bank branches across Australia, making it easy for all Australians to access their home loans, no matter where they call home.
Though Bank of Queensland may not offer the same variety as Australia’s big four banks, customers still have several options when it comes to finding the right home loan. Customers can choose between principal-and-interest and interest-only loans, and between variable-rate and fixed-rate mortgages.
In terms of interest rates, Bank of Queensland tends to charge moderately low rates. While they may not charge the lowest home loan rates, their interest is reasonable when compared with current home loan interest rates on the market.
Bank of Queensland home loan fees tend to be moderate in both their upfront and ongoing costs.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.