Finty
BOQ Specialist

BOQ Specialist Home Loan Banking Package

Variable rate

More than just a home loan, the package allows you to manage your finances in one place with the help of a dedicated financial specialist. It combines a home loan with a credit card and an everyday bank account

Written byDavid Boyd
Interest rate a year, from
9.87%
Comparison rate
10.33%
Upfront fees
Not published
Annual fee
$495
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 9.87% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$5,208
Total repayments
$1,874,838
Interest
$1,274,838

Rates

Every rate BOQ Specialist publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 90%9.87%10.33%
VariableLive inInterest onlyUp to 90%10.41%10.87%
VariableInvestmentPrincipal and interestUp to 90%10.52%10.98%
VariableInvestmentInterest onlyUp to 90%10.90%11.36%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
Not published
Annual fee
$495
Monthly fee
Not published

Features

Offset account
No
Redraw
No
Highest LVR
90%
Loan amount
Not published

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

9.87%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

10.33%

For the same rate. Typical is 6.70%.

Annual fee

$495

A typical annual fee is $350.

Smallest deposit

10%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

  • A higher variable rate. 9.87%, above the typical 6.62%. On a $600,000 loan, every 0.10% more costs about $600 a year.
  • An annual fee. $495 a year, above the typical $350. Over a 30 year loan that's $14,850, though package fees often bring rate discounts.
  • No offset account. Your savings can't reduce the interest unless you pay them into the loan.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.