Finty
BOQ Specialist

BOQ Specialist Plus Home Loan

Variable rate

The Plus loan (an unsecured credit facility that provides additional borrowing above a defined LVR subject to eligibility criteria and credit assessment) as part of the Home Loan Banking Package.

Written byDavid Boyd
Interest rate a year, from
9.69%
Comparison rate
Not published
Upfront fees
Not published
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 9.69% (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
$5,129
Total repayments
$1,846,263
Interest
$1,246,263

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 interestAny9.69%–
VariableLive inInterest onlyAny9.74%–
VariableInvestmentPrincipal and interestAny10.23%–
VariableInvestmentInterest onlyAny10.23%–

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
Not published
Monthly fee
Not published

Features

Offset account
No
Redraw
No
Highest LVR
Not published
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

9.69%

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

Pros and cons

Pros

  • 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. 9.69%, above the typical 6.62%. On a $600,000 loan, every 0.10% more costs about $600 a year.
  • 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.