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Expert review

Adam Smith

Review by


Adam Smith was the home loans editor at Finder.

Expert review

The Bank of Queensland 2 Year Intro Rate Variable Home Loan is available to owner-occupiers and investors for the purchase or construction of a home. After the two-year introductory period, the loan reverts to the bank's Clear Path Variable Home Loan.

About this loan

What are the features and benefits of the Bank of Queensland 2 Year Intro Rate Variable Home Loan?

  • Loan amount and purpose. The Bank of Queensland 2 Year Intro Rate Variable Home Loan has a minimum borrowing amount of $150,000 and a high maximum borrowing amount of $0. You can borrow up to 90% of the value of your property, but be aware that borrowing more than 80% will require you to pay lenders mortgage insurance (LMI).
  • Flexible repayments. The Bank of Queensland 2 Year Intro Rate Variable Home Loan offers the option of weekly, fortnightly or monthly repayments to suit your pay cycle. You can also make unlimited additional repayments without penalty.
  • Free redraw. If you need to access your extra repayments, you can use the loan's free redraw facility. There's a minimum redraw amount of $100, but no fee for redraws.
  • 100% offset account. You can save money on interest with the loan's linked 100% offset account.
  • Interest-only option. The Bank of Queensland 2 Year Intro Rate Variable Home Loan offers a two-year interest-only term, subject to approval.

What fees and charges come with this loan?

  • Legal fee: $350. This fee covers the legal costs associated with establishing your home loan.
  • Settlement fee: $150. This fee covers the funding costs associated with settlement day.
  • Discharge fee: $350. A discharge fee is charged when you close your home loan account, either by refinancing or paying off your home loan entirely.
  • Early termination fee: This fee is charged if you terminate your loan before the end of the two-year introductory period.

How to apply

If you've compared your home loan options and think the Bank of Queensland 2 Year Intro Rate Variable Home Loan is right for you, click the green Go to site button. You'll be taken to the Bank of Queensland's website where you'll be walked through the application process.

Home Loan Offers

Important Information*
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UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.34% p.a. and a 2.34% p.a. comparison rate.

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4 Comments

  1. Default Gravatar
    guy
    August 22, 2019

    Does BOQ charge mortgage insurance for less than 10% deposit?
    cheers
    Guy

    • Default Gravatar
      Nikki
      August 23, 2019

      Hi Guy,

      Thanks for your question. It’s helpful to know that you can borrow up to 90% of the value of your property, but be aware that borrowing more than 80% will require you to pay lenders mortgage insurance (LMI).

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    kiranjit
    December 7, 2018

    I want to know the lowest variable rate home loan up to 200K for refinancing.

    • Avatarfinder Customer Care
      Joshua
      December 13, 2018

      Hi Kiranjit,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Please go here. On that page, you will know how to find the best refinancing deals. There’s a table on that page that allows you to compare your options based on fees, monthly repayments, and interest rates, to name a few. To filter the table, click on the “Advance Search” and then click “Variable” under the “Loan Type.”

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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