The BOQ reduces fixed interest rates

The Queensland Bank Group (BOQ) announced Thursday that it would reduce a number of fixed-rate home loan interest rates for all its brands, namely BOQ, Virgin Money and the BOQ specialist (BOQS ).

According to the disclosure, at BOQ and Virgin Money, the special two-year special rate for homeowners paying principal and interest would be reduced to 3.44% – a 15 basis point decrease in BOQ and 31 basis points decrease for VMA. In addition, the special three-year special rate for owners who pay principal and interest will be reduced to 3.39% pa This corresponds to a 30 basis point decrease for BOQ and VMA.

Rates will apply to new loans of $ 150,000 for BOQ housing loans and $ 300,000 for Virgin Money home loans. Special rates are also offered to investors.

Source: BOQ

BOQS also removes fixed rates of one, two, three and five years for homeowners who pay principal and interest on new loans of $ 500,000 or more.

"Our fixed rates are among the most competitive in the market so far and are a great option for those seeking certainty. The BOQ Group offers a range of fixed rate home loan options designed to attract a wide range of clients, through our BOQ, Virgin Money or BOQ Specialist home loans, "said Lyn McGrath, director of retail banking group. "We want to partner with customers to realize their homeownership dreams – whether it's buying their first home or expanding their real estate portfolio."

The amendments will apply to a range of housing loans granted by the owner and investors of varying lengths and will come into effect as of today.

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