At a glance

1.00 %P.A.
Discount off the Standard Variable Rate for the first 12 months
FREE
Redraw to access any additional repayments on your home loan
100 %
Mortgage offset available

Why choose our First Start Home Loan?

Buying your first home doesn't need to be hard. With BOQ's First Start Home Loan, you'll receive a great discount on our Standard Variable Rate for the first 12 months.

1% p.a. discount for the first 12 months

After which, the Standard Variable Rate will apply.

Offset your mortgage

Save on interest with a Mortgage Offset Account.

Free redraw

Redraw a minimum of $100 – no fees apply.

Flexible repayment options

Choose weekly, fortnightly or monthly repayments.

Unlimited additional repayments

Pay off your home sooner, with unlimited additional repayments.

Loan features

 

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

98% of the property value, inclusive of Lender's Mortgage Insurance* (Principal and Interest Lending)

90% of the property value, excluding Lender's Mortgage Insurance* (Interest Only Lending)

Repayment Type

  • Principal and interest
  • Interest Only (maximum 5 years; subject to approval)

Repayment Options

Weekly / Fortnightly / Monthly

Additional repayments

Yes - unlimited 

Redraw

Yes - minimum $100. Available through Internet Banking subject to approval

100% Mortgage Offset facility

Yes

Electronic Banking

Yes


Standard Variable Home Loan Fixed Rate Home Loan Line of Credit Facility
Application fee      
Home loan fee      
Annual Package fee      
Maintenance fee      
Loan term      
Minimum loan amount      
Maximum loan amount      
Maximum LVR      
Repayment type      
Repayment options      
Additional repayments      
Redraw      
Low Doc Option      
Mortgage offset facility      
Internet banking      
EasyPhone Banking      
       
       
       

 

Standard Variable Home Loan Fixed Rate Home Loan Line of Credit Facility
Application fee      
Home loan fee      
Annual Package fee      
Maintenance fee      
Loan term      
Minimum loan amount      
Maximum loan amount      
Maximum LVR      
Repayment type      
Repayment options      
Additional repayments      
Redraw      
Low Doc Option      
Mortgage offset facility      
Internet banking      
EasyPhone Banking      
       
       
       

 

Interest rates

 

  Principal and Interest Interest only

Product

Interest Rate % p.a.

Comparison Rate % p.a.^

Interest Rate % p.a.

Comparison Rate % p.a.^

First 12 months 4.70
5.76
5.16
5.81
After 12 months 
5.70
5.86
6.16
6.06

Fees

At BOQ, we keep our fees to a minimum. Any fees we do have we’ll show you up front so there are no surprises.

Fee type Amount
Application fee $495
Monthly fee $10.00 each month
Valuation fee  Amount varies 

A full list of fees can be found in our Fees and Charges guide below.

 

Important information

For important information on our First Home Buyer Loan, view our Terms and Conditions.

Ready to apply?

There are a few things you’ll need to begin, such as your proof of identity, employment details and financial details such as income, assets, expenses and liabilities.

Step 1.

Check your eligibility. You must:

  • Be 18 years of age or over
  • Have never been bankrupt
  • Be an Australian citizen or permanent resident
  • Earn a regular income

You might also be interested in:

Our award winning, no fee bank account

Day2Day Plus Account

The Day2Day Plus Account is the everyday bank account that frees you to live the way you want, each and every day.

  • Easily manage your daily transactions and bills through internet banking
  • Unlimited deposits, withdrawals, BOQ balance enquiries, funds transfer and BPAY transactions
  • Contactless payments and secure online purchases through Visa Debit

Protect your most valuable asset

Home and Contents Insurance

You’ve put a lot in to your home and spent a lot on your belongings. Make sure they’re protected should the unthinkable happen.

  • Combined or separate home and contents insurance
  • Automatic cover for fire and flood
  • Cover for accidental damage