Bank of Queensland 2 Year Intro Rate Variable Home Loan | Finder

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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 N/A. 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.

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4 Comments

    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

    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. :)

      You can use our comparison table to find the right home loan refinancing deal for you. The table allows you to compare your options based on fees, monthly repayments, and interest rates, etc. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Alternatively, you can speak to a mortgage broker who can take your personal circumstance into account and offer you a range of borrowing options.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

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

      Have a wonderful day!

      Cheers,
      Joshua

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