BOQ Variable Owner Occ. 1.98% <70% LVR (2.15% CPR) / 2.03% <80% LVR (2.20% CPR) + $3,000 Refinance / $2,000 Investor Cashback

Effective 30 August, 2021, Bank of Queensland / BOQ will be significantly reducing some of their promotional Owner Occupied P&I Rates.

Starting at 1.98% (2.15% CPR), these new rates are significantly lower than HSBC's popular variable rate offer, and even lower than Westpac's new lowest variable rates; with Westpac only offering sharp variable rates to customers as a 2-year introductory offer, before automatically increasing them.

BOQ's Economy Variable rates are not introductory rates and are instead ongoing variable rates.

Furthermore, they are offering a $3,000 refinance cashback and $2,000 investment purchase cashback; and customers can obtain both by settling both a refinance and investment purchase application with them.

In our experience, BOQ is consistently one of the top 4 major lenders in terms of maximising borrowing power for clients, so in addition to sharp rates, low fees, and generous cashbacks, they will often lend more than the other large banks.

Therefore, if you are looking for a bank lender offering a low ongoing variable rate, low fees, high borrowing power, and up to $3k cashback, then look no further!

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Virgin Money (part of the BOQ Group) have also announced that from 30 August, 2021, they will be offering 2 year fixed Home Loan rates from 1.79% pa (2.62% comparison rate), available with their own $3,000 refinance cashback offer.

This offer therefore matches St George's new lowest fixed rate offer, but with much lower ongoing fees ($10 pm compared with $395 pa) and slightly higher upfront fees ($450 compared with $100).

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BOQ & Virgin Money's new competitive offers:

Owner Occupied P&I:

• BOQ "Economy" Variable, <70% LVR = 1.98% pa (2.15% CPR)
• BOQ "Economy" Variable, <80% LVR = 2.03% pa (2.20% CPR)
• Virgin Money "Reward Me" 2-year Fixed, <60% LVR = 1.79% pa (2.62% CPR)
• Virgin Money "Reward Me" 2-year Fixed, <80% LVR = 1.89% pa (2.64% CPR)

Promotional Rate Requirements:

• Debt to Income ratio (DTI) must be less than 6.
• New to bank lending only, with minimum $150k of total new lending (BOQ) / $300k (Virgin Money).
• Not available for refinance or restructure of existing BOQ Group lending.
• Split lending available.

BOQ & Virgin Money Home Loan Fees:

• Upfront = $450 (waived for Virgin Money applications submitted through a Finsure broker, including Loan Base!)
• Ongoing = $10 pm

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BOQ $3,000 Refinance Cashback Offer Eligibility:

• Personal customers taking out a new home loan with BOQ.
• Applications need to be received on or before Sunday, 31 October 2021.
• Loans must settle on or prior to Friday, 28 January 2022.
• Minimum new lending of at least $250,000 with maximum LVR of 80%.
• Customers can be eligible for both a single refinance cashback and a single purchase cashback if criteria for both campaigns are met (total $5k).
• The purpose of the loan must be to refinance a loan to BOQ from another financial institution. This excludes refinances from BOQ Specialist, ME Bank and Virgin Money (Australia).
• Lending must be flagged with refinance purpose on the loan application.

BOQ $2,000 Investment Purchase Cashback Offer Eligibility:

• Personal customers taking out a new home loan with BOQ.
• Applications need to be received on or before Sunday, 31 October 2021.
• Loans must settle on or prior to Friday, 28 January 2022.
• Minimum new lending of at least $250,000 with maximum LVR of 80%.
• Customers can be eligible for both a single Refinance Cashback and a single Investor Purchase Cashback if criteria for both campaigns are met (total $5k).
• The loan is to purchase an investment property.
• Lending must be flagged as an investor loan with the purpose of purchasing a residential property – new home or existing – on the loan application.
• Customers will automatically be paid the cashback, provided the eligibility criteria outlined above has been met. Customers will be required to have an existing BOQ transaction account or open a BOQ transaction account that the cashback will be paid to within.

Virgin Money $3,000 Refinance Cashback Offer Eligibility:

• Personal customers taking out a new "Reward Me" Home Loan with Virgin Money.
• Applications need to be received on or before 30 November 2021.
• Loans must settle on or prior to Friday, 28 February 2022.
• Minimum new lending of at least $300,000 with maximum LVR of 80%.
• Not available to the refinance or restructure of existing Virgin Money home loans.
• Customers will automatically be paid the cashback into their Reward Me Home Loan Companion account, provided the eligibility criteria outlined above has been met, within 60 days of settlement

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Up to $1,000 Loan Base Broker Cashback Offer Terms:

• Available on refinance or purchase loan applications submitted through Loan Base until 31 August 2021
• New lending must include a component that will be fixed for at least 2 years
• Not available for applications refinancing existing Loan Base lending that is still within the current lender's clawback period (generally 2 years)
• $500 cashback available for settled utilised lending (net of offset and redraw) of $500k +
• $1,000 cashback available for settled utilised lending (net of offset and redraw) of $1m +
• Subject to meeting the above criteria, just mention this Loan Base Ozbargain cashback offer to your broker during your initial conversation (prior to your proposal presentation).

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Whilst these offers are very compelling, they will not suit everyone and not everyone will qualify for them - please therefore contact us to confirm the best deals you could qualify for from our panel of over 50 lenders before applying

Other related special offers:

• Up to $4k lender cashback on <80% LVR refinances or purchases through Citibank, with very sharp discretionary pricing.
• 3 year fixed rates of 1.85% pa (2.54% CPR) on owner occupied or investment^ purpose lending, with $2k lender cashback through 86 400.
  ^ Note that an owner-occupied security property is required to access this rate on investment purpose lending.

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HOW TO APPLY

You can apply through directly through the lender, or through an accredited broker, of which we have several across our team of specialists.

Our team is here to help, and will work to ensure we obtain the best pricing and offers possible for you. You can lodge an enquiry via our award winning tech platform here - https://loanbase.com.au/compare-home-loans-fva, or contact one of our brokers directly with their details below.

Leo Gonzales, Email: [email protected], Calendar link: https://calendly.com/loanbase-leo/initial
Eric Cheng, Email: [email protected], Calendar link: https://calendly.com/loanbase-eric/quickchat
Andrew Loucas, Email: [email protected], Calendar link: https://calendly.com/loanbase-andrew/quickchat

Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.