Bank of Queensland has today launched a new product for first home buyers, the First-Start Home Loan.
Group Executive People and Corporate Services Daniel Musson said the new product, the First-Start Home Loan, offers a 1% p.a. discount from the Bank’s standard variable rate for the first 12 months.
“It’s a great product for first home buyers who are currently in the market and shopping for their first home loan,” Mr Musson said.
“Lower interest rates, an increased federal government First Home Owners’ Grant and falling property prices have boosted the number of first home buyers in the market.
“So we’re really excited about letting Aussie first home buyers know that there’s another option for their first home, and it comes with great customer service and a personal touch as well.
“This isn’t a segment we’ve historically been very active in – we’ve been more a second or third home loan purchase option.
“But I don’t see why first home buyers should miss out on the exceptional service we offer, particularly when we can also offer them this fantastic new loan product.
“Also, at the end of 12 months, customers can choose to switch to any of our other home loan products, and we’ll waive the $300 switching fee for them.”
To be eligible for the product, applicants must be eligible to receive the First Home Owners’ Grant in their relevant state and apply for the Grant in conjunction with their loan application.
For details about the new Bank of Queensland First-Start Home Loan and how to apply, drop in to your nearest Bank of Queensland branch or visit our First-Start Home Loan microsite.