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BCU home loans

BCU has home loan rates starting from 5.89%.

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By

Richard Whitten

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BCU is a member-owned bank that offers a range of home loans for Australian borrowers. Check out the full table of BCU products below or read more about the lender.

Compare BCU home loans for December 2023

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1 - 5 of 14
Updated regularly
Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
BCU OMG! Home Loan
Principal & Interest40% min. depositOwner-occupier
Interest Rate
5.99%
Comparison Rate
6%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
More Info
BCU OMG! Home Loan
Principal & Interest20% min. depositOwner-occupier
Interest Rate
6.09%
Comparison Rate
6.10%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$909
More Info
BCU OMG! Home Loan
Principal & Interest5% min. depositOwner-occupier
Interest Rate
6.29%
Comparison Rate
6.30%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$929
More Info
BCU Fixed Rate Home Loan
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Interest Rate
5.94%
Comparison Rate
6.23%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$895
More Info
BCU Fixed Rate Home Loan
Principal & Interest 1Y Fixed11% min. depositInvestment
Interest Rate
6.09%
Comparison Rate
6.41%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$909
More Info
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Showing 5 of 14 results

BCU key facts

  • BCU is a member-owned bank based in New South Wales.
  • BCU offers home loan products for owner-occupiers and investors.
  • This lender also offers other financial products such as savings, insurance, credit cards and personal loans.

Review by our senior home loans writer Richard Whitten

BCU home loan features

Here are the key features and details you need to know about BCU's mortgage products.

FeatureDetails
Minimum depositIt is possible to get a home loan from BCU with a deposit as low as 5%.
Offset account?You can get an offset account with several BCU loans.
Repayment optionsSeveral BCU home loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans.

How do I apply for a mortgage from BCU?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with BCU you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.

📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.

📄 Proof of income documents. Recent payslips can establish your income.

📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

How to apply for a home loan

More lenders to compare

Check out Finder's main home loans guide if you want to compare more home loans from a range of lenders. Or you could try one of the following lenders:

  • ING. This online bank is part of the global, Dutch financial group of the same name.
  • Commonwealth Bank. The nation's largest bank has a large selection of home loans and a convenient banking app.
  • UBank. This online bank is actually owned by NAB.
  • Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
  • Tic:Toc. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
  • Bank of Queensland. Outside of the Big Four this is one of Australia's larger banks. BOQ owns Virgin Money.
  • HSBC. The local Australian banking arm of this international bank offers various home loans.

More guides on Finder

  • BCU Fixed Rate Home Loan

    Check out finder's review of the BCU Fixed Rate Home Loan and find out if it's right for you.
  • BCU OMG Home Loan

    The BCU OMG Home Loan combines a competitive variable rate with your choice of repayments, a flexible redraw facility and an easy online application process.
  • bcu Fixed Rate Home Loan

    The bcu Fixed Rate Home Loan offers a competitive fixed rate for up to five years the security of consistent repayment amounts, and a Visa credit card with no annual fee.

Find the right home loan now

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2 Responses

    Default Gravatar
    GillJanuary 17, 2014

    Shopping for a home loan.
    Have read mixed reviews about BCU and RESI
    not sure which will give the best service as well as interest rate. That being the case is it better to go with a broker and which brokers deal with Credit Unions?

    What are the pitfalls with borrowing from a credit union?

    What happens to my home loan if the Credit Union goes bankrupt or into Administration?

    Thank you,

    Gill

    Reply
      AvatarFinder
      ShirleyJanuary 20, 2014Finder

      Hi Gill,

      Thanks for your comment.

      Using a mortgage broker can potentially save you a lot of time and money. Most mortgage brokers deal with a range of credit unions. You may refer to our comparison of mortgage brokers that can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.

      You can see that Loan Market compares the highest number of lenders. Be mindful that mortgage brokers work on a commission basis.

      A mortgage broker will be able to inform you about what happens if your credit union goes bankrupt and their security – if a financial institution does collapse then the receivers/liquidators generally look to sell the assets to another party.

      I hope this helps.

      Cheers,
      Shirley

      Reply
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