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.
Features and benefits
| Feature | Detail |
| 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* |
| Repayment Type | - Principal and interest
- Interest Only (maximum 5 years; subject to approval)
|
| Repayment Options |
|
| Additional repayments | Yes - make unlimited additional repayments any time and pay off your loan sooner. |
| Redraw (application form PDF 398kb) | 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 |
| Internet Banking | Yes |
| EasyPhone Banking | Yes |
*Requires mortgage insurance if the amount borrowed is more than 80% of the valuation of the security property.
Interest rates
| Interest rate | |
| 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
Mortgage Offset Account: $10.00 each month
Fee savings: You can nominate one of your Reverse Charges AccountTM to be free of monthly account maintenance fees.
Additional Information
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
To apply for a home loan, complete the home loan application form (PDF 686kb), take it to one of our convenient locations and an appointment with one of our lending staff will be arranged for you to discuss the various loans options available. Look at the information we need from you. Call us on 1300 55 72 72 with any queries.
Important Information
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
Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the terms and conditions, Financial Services Guide and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch.