The Bank of Queensland (BOQ) is one of Australia’s largest regional banks. It has been in operation since 1874 and is headquartered in Brisbane, but has over 200 branches available across Australia.
It is a listed lender and offers a full range of banking and financial services, including personal banking, business banking (specialising in small to medium enterprises), insurance products, as well as private banking services.
As one of the largest regional banks in the country, BOQ pride themselves on not being owned by any of the larger banks. Even more impressive when you consider that they transferred from being a building society to a bank in 1887.
In order to apply for a home loan with BOQ you will need to be able to provide the following information:
You will need to be at least 18 years of age
Proof of Identification: Enough to pass the 100 point check, which can include your passport, birth certificate, etc.
You will need to be able to provide evidence of your financial details when you apply, so make sure you hang on to your tax returns, pay slips, and other financial details.
You’ll need to agree to a credit check.
A list of your income against your expenses, which will show the lender a more complete view of your current financial situation as far as incoming and outgoing cash flow is concerned.
A list of assets and debts - assets include things like existing properties and investments as well as savings, while debts are any open lines of credit or other loans, etc.
Details about the property you're planning to buy, such as the price of the property and how much you are looking to borrow.
If you have already found a property, you will need to have a copy of the signed Contract of Sale and the details of your soliciter and conveyancer.
The Bank of Queensland's non-mortgage services are broken into a few different companies:
Virgin Money Australia, which handles retail finance
BOQ Finance, which is a mid-market business financier
BOQ Specialist, for niche industries like dental and veterinary companies
St Andrew’s Insurance, which covers consumer and life insurance.
Save your time and get specialist help to find the best home loan - FREE.
When considering a home loan there are several different factors to take into account. If you want to live in the property, or buy it as a future investment, will determine whether you should apply for an owner occupied loan or an investment loan. You can also browse by company to see the different types of home loan offered as some loan providers offer basic products, as well as inclusive package deals.
You will also need to consider what sort of payment plan suits you. Home loans are offered either at a fixed or variable rate of interest. Fixed rate plans suit those who may be on a budget or prefer to know exactly what they pay back each month. However, a variable rate loan could work to your advantage as you could pay back less overall if interest rates fluctuate.
When considering any type of home loan, it is recommended to get an expert’s opinion. They will help you choose a home loan that’s right for you as well as determining what sort of payment plan will work best for you and your money.