BOQ Fixed Home Loan - Refinance - Fixed

Ratings

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About this rate option

This BOQ Fixed Home Loan rate option is for refinancing an existing home loan, with a fixed interest rate of 5.79% (comparison rate 6.34%) and principal-and-interest repayments that reduce the loan balance over time. You can borrow up to 90% of the property value, though a deposit under 20% usually means Lenders Mortgage Insurance applies. After the fixed period, the rate typically reverts to the lender's variable rate, which should be confirmed with BOQ. The loan includes a 100% offset account and allows extra repayments of up to $10,000

This summary was generated from BOQ’s published product data for this specific rate option. Always confirm current rates with the lender.

About Fixed Home Loan

Key Features

Generally speaking, offset accounts is more common with variable rate home loans than fixed loan options.

Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.

LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.

Unlike in the US, there are no lenders in Australia that offer 20 or 30 year fixed rates for standard residential home loans. BOQ Fixed Home Loan offers fixed loan terms between 2 - 5 years.

Unlike in the US, there are no lenders in Australia that offer 20 or 30 year fixed rates for standard residential home loans. BOQ Owner Occupied Home Loan offers fixed loan terms between 2 - 5 years.

Fees & Costs

BOQ charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
BOQ may also charge you a fixed-rate break cost if you refinance out of Fixed Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.
BOQ may also charge you a fixed-rate break cost if you refinance out of Owner Occupied Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.
Selling the property or refinance during the fixed rate term can trigger hefty fees for breaking a fixed rate contract, and fixed rate loans tend to have restrictions on making extra repayments. Before you lock your rate in, you need to be sure that a fixed rate home loan is suitable for your situation.

Borrowing Limits

An LVR of 90% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
An LVR of 95% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
BOQ Fixed Home Loan does not offer tier pricing for lower LVR. With Fixed Home Loan, you can borrow upto $90% LVR.

Eligibility

Interest only repayment option is not available with BOQ Fixed Home Loan for buying next home.
Interest only repayment option is not available with BOQ Fixed Home Loan for first home buyer.
Interest only repayment option is not available with BOQ Fixed Home Loan for refinance.
Interest only repayment option is not available with BOQ Owner Occupied Home Loan for buying next home.

💡 Tip: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.

IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with BOQ or a mortgage broker just to be sure. This information should be used as a guide only.

Other rate options for Fixed Home Loan

Refinance Fixed · Principal & Interest 0 Years · 90% LVR

5.79%

Refinance Fixed · Principal & Interest 2 Years · 80% LVR

6.29%

Refinance Fixed · Principal & Interest 2 Years · 90% LVR

6.29%

Refinance Fixed · Principal & Interest 2 Years · 95% LVR

6.64%

Refinance Fixed · Principal & Interest 3 Years · 80% LVR

5.69%

Refinance Fixed · Principal & Interest 3 Years · 90% LVR

6.19%

Refinance Fixed · Principal & Interest 3 Years · 95% LVR

6.54%

Refinance Fixed · Principal & Interest 4 Years · 80% LVR

6.44%

Refinance Fixed · Principal & Interest 4 Years · 90% LVR

6.44%

Refinance Fixed · Principal & Interest 4 Years · 95% LVR

6.79%

Refinance Fixed · Principal & Interest 5 Years · 80% LVR

6.54%

Refinance Fixed · Principal & Interest 5 Years · 90% LVR

6.09%

Frequently Asked Questions

Are there costs when I exit or refinance to another lender?

BOQ charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property. BOQ may also charge you a fixed-rate break cost if you refinance out of Fixed Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.

Are there costs when I exit or refinance to another lender?

BOQ charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property. BOQ may also charge you a fixed-rate break cost if you refinance out of Owner Occupied Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.

Does BOQ Fixed Home Loan comes with an offset account?

No, Fixed Home Loan does not come with an offset account. Generally speaking, offset accounts is more common with variable rate home loans than fixed loan options.

Does BOQ Owner Occupied Home Loan comes with an offset account?

No, Owner Occupied Home Loan does not come with an offset account. Generally speaking, offset accounts is more common with variable rate home loans than fixed loan options.

What are the costs to apply for BOQ Fixed Home Loan?

There is upfront costs of $150 to apply for Fixed Home Loan. Settlement fee: $150 Fixed Home Loan also comes with ongoing account fees of $120 per year. Monthly fee: $10 per month

What are the costs to apply for BOQ Owner Occupied Home Loan?

There is upfront costs of $150 to apply for Owner Occupied Home Loan. Settlement fee: $150 Owner Occupied Home Loan also comes with ongoing account fees of $120 per year. Monthly fee: $10 per month

Fees

Application fee

Important Information

Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with BOQ or a mortgage broker just to be sure. This information should be used as a guide only.