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Bank of QLD Home Loans Review

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Home Loan Experts’ Review:
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Founded: 1874

Owned by: ASX Listed

Funded by: Retail deposits and wholesale capital markets

LMI provider: Genworth

Lender type: Bank

Unlike most banks, Bank of Queensland has nearly two thirds of its branches “owner managed”. The franchise like structure, great interest rates and success with mortgage brokers has enabled BOQ to become one of the more popular banks in QLD.

BOQ has also purchased Virgin Money and Investec bank which has given it a large base of both young and professional customers such as doctors, accountants, engineers and lawyers.

How do BOQ’s home loans compare?

They’re great at

But they’ve got some drawbacks…

Our award-winning brokers get tough loans approved

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What home loans types do they have?

BOQ has a range of full feature home loans such as their Clear Path Variable and Professional Package as well as some no frills home loans like their Economy Home Loan and Fixed Rate Home Loan.

They have a few speciality products such as waived LMI for professionals that is offered through Bank of QLD specialist and a bridging loan for people who are selling and buying a new home.

Tips for getting a great rate with BOQ

It’s all about timing!

BOQ is trying to grow its market share so it’s offering special discounts to lure customers to refinance to BOQ. If you’re buying a home or refinancing at the right time, then you may get a great deal on a variable rate or fixed rate that is below what the major banks can offer.

A good mortgage broker can also put in a pricing request to see what BOQ is willing to offer to win your business.

Compare BOQ to other lenders

Not sure which lender is right for you? Not sure which Bank of QLD home loan you should choose? Our Home Loan Experts can help!

Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.