First-Start Home Loan
An ideal loan to help you purchase your first home. The First-Start Home Loan offers a great discount on our Standard Variable Rate for the first 12 months and the flexibility of weekly, fortnightly or monthly repayments.
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Features and benefits
|Interest Rate||1% p.a. below the Standard Variable Housing Rate for the first 12 months, after which the Standard Variable Housing Rate will apply.|
|Loan Term||Maximum 30 years|
|Minimum loan amount||No Minimum|
|Maximum loan amount||95% of property value*|
- Principal and interest
- Interest Only (maximum 5 years; subject to approval)
|Additional repayments||Yes - make unlimited additional repayments any time and pay off your loan sooner.|
|Redraw||Yes - redraw allows you to easily access our advance repayments, minimum of $100. Available through Internet Banking subject to approval|
|100% Mortgage Offset facility||Yes|
*Requires mortgage insurance if the amount borrowed is more than 80% of the valuation of the security property.
|Reference rate||Standard variable housing rate|
|Product discount||1.00% p.a. below the applicable reference rate for the first 12 months, after which the applicable reference rate will apply.|
|Current rate||The current rates are available on the Today's rates page|
Fees and charges
Application fee: $495.00
Home loan fee: $10.00 each month
Fee savings: You can nominate one of your Reverse Charges AccountTM to be free of monthly account maintenance fees.
Valuation fees are payable. Government fees and charges apply. Fees and charges are payable. Normal credit assessment criteria apply. Full terms and conditions are available at any Bank of Queensland branch. Interest rates quoted are indicative only, and are subject to change without notice.
How to apply
You can enquire online via BOQApply for a First Start Home Loan.
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Alternatively, drop into a BOQ branch and speak to someone face to face or call one of our friendly customer service consultants on 1300 55 72 72.
Please view the terms and conditions listed below on the Terms and Conditions page:
- Personal Banking Guide to Fees and Charges
- Personal Lending Supplementary Terms and Conditions