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$2000 Home Loan Refinance Cashback (Min Loan $250,000), Owner Occupied Rates from 6.09% (CR 6.24%) @ Bank of Queensland (BOQ)

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$2000 Home Loan Refinance Cashback (Min Loan $250,000), Owner Occupied Rates from 6.09% (CR 6.24%) @ Bank of Queensland (BOQ)
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AssociatedMortgage Broker @ Lending Clinic on 11/12/2023 - 14:38 boq.com.au (155 clicks)

Hello OzBargainers,

Thank you for your support so far!

Bank of Queensland (BOQ) is offering $2000 cashback incentive, when you refinance your home loan or investment property loan, with only $250K minimum loan amount!

Great interest rates, owner occupied variable rate from 6.09% (CR 6.24%), investment variable rate from 6.34% (CR 6.48%), at 70% LVR.
Also currently we can get the $300 application fee waived on the Economy product.

Terms & Conditions of the $2000 Cashback Offer:

  • Minimum total new lending of at least $250,000.
  • Maximum loan-to-value ratio (LVR) of 80%.
  • Loan must settle within 120 days of the application date.
  • This offer is open to Australian residents aged 18 and over who are personal customers taking out a new home loan with BOQ, refinanced from another financial institution.
  • Not available for the refinance, restructure or switches of home loans within BOQ Group, which includes BOQ, BOQ Specialist, ME Bank and Virgin Money (Australia).
  • Offer available on BOQ's Clear Path, Economy, or Fixed Rate home loan products.
  • An applicant will be eligible for a maximum of one refinance cashback payment, regardless of the number of loan applications they are party to, provided the total amount drawn at settlement across all loans is at least $250,000.
  • Customers who have received a refinance cashback payment from within the BOQ Group within the 12 months prior to their loan application date will be ineligible for this offer.
  • The cashback will be paid to the applicant's BOQ transaction account within 30 days of the settlement date.
  • For multiple home loan applicants the BOQ account needs to be in the name of at least one of the home loan applicants and the cashback will be paid only once to the applicants jointly.
  • If you do not already have one, an eligible BOQ transaction account is required to be established.
  • Ongoing offer but may be withdrawn or varied at any time.

We're a mortgage broker and also work with other banks, if BOQ doesn't suit.

Hope to help you save some money!!

Kind regards,

Arman Soetanto
M: 0431 825 128
E: [email protected]
W: www.lendingclinic.com.au
Lending Clinic Pty Ltd (Credit Representative Number 511270) is authorised under Australian Credit Licence Number 384704

Financial Cashback Home Loan Investment Loan Loan Refinance

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closed Comments

  • freedomofspeech on 11/12/2023 - 14:43
    +1

    st George 6.04

    • tomclancy on 11/12/2023 - 15:05
      +1

      yep - BOQ not competitive at all, I would expect better from a 2nd Tier.

      Don't get sucked into these cashback 'deals' if you are losing out on the interest rate. Classic mortgage broker sales pitch.

      For reference, ANZ OO currently 6.04% and 6.29% for investment. Both are the package with offset.

      • AssociatedMortgage Broker @ Lending Clinic on 11/12/2023 - 15:30

        This week it’s getting tough to get 6.04% from St George or ANZ. It appears they have reduced their discount appetite after the December RBA announcement.
        Bank of Queensland so far is still sharp on pricing.

      • michaelavelli on 11/12/2023 - 18:23

        I wouldn't call 0.05% difference "not competitive at all."

        • tomclancy on 11/12/2023 - 20:43

          Yeah but ANZ's has offset. That's another 10bps right there. So 0.15%p.a. on a $700,000 average home loan is $1,050p.a.

          There are cheaper lenders in Tier 2. They shouldn't be more expensive than Big 4!

      • johnnytran on 11/12/2023 - 22:13

        Where's this package with the offset, I can't see it on their website?

        • tomclancy on 11/12/2023 - 22:28

          Misnomer by me. ANZ don't do package anymore. Instead $10 monthly fee for offset account.

  • Evanlet on 11/12/2023 - 14:50
    +4

    Joke of a bank. Stuffed me around throughout the entire homeloan process up until settlement date. Switched to CommBank last second for a half day turnaround.

    • AssociatedMortgage Broker @ Lending Clinic on 11/12/2023 - 15:32

      Wondering what happened?
      Generally BOQ is good but they do scrutinise bank statements, sometimes can cause a bit of back and forth queries regarding the transactions there.

      • Evanlet on 12/12/2023 - 12:44

        Obtained pre-approval from BOQ, but come formal approval it was radio silence for 4 weeks. No back and forth enquiries per say, but responses to follow-ups were "we'll get to it".

        They sent through formal approval one day before settlement. I told them to get stuffed and started an application through my broker with CBA and had it approved within the day.

        Rather pay an additional 1% and additional 200K over the life of the loan than deal with an inept bank, any day of the week. Time is money.

  • hopper on 11/12/2023 - 15:47

    Most home owners who are on low fixed loan rate will get back to current market rate this Feb. It's going to be crazy

  • RS08 on 11/12/2023 - 16:08
    +1

    I have Greater Bank from last 4 years and never seen anyone beat their rates, currently have 5.9% , yes few branches and less online features but I don’t need either of them.

  • Pineapples on 11/12/2023 - 18:57
    +1

    BOQ is the worst. Customer service is pathetic. Wouldn't bank with them for any rate.

  • blueonion on 15/01/2024 - 14:23

    If you split your homeloan 2 x $400k instead of 1 x $800k, can you get 2 x $2000 ?

    • AssociatedMortgage Broker @ Lending Clinic on 15/01/2024 - 18:38

      Only one from Bank of Queensland. But ME Bank can give 2 x $2k, if there are 2 properties with $400k loan each.

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