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Bank of Queensland Home Loans

Bank of Queensland Home Loans

1.9 from 29 reviews · View Statistics

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Even with pre-approval, BOQ home loan process very unreliable to deliver, will result in you losing the property

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Zakir h.

Zakir h.Sydney, NSW

Waste of Time and No Clear Direction

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No satisfied. it took them 6-7 weeks but still couldn't provide a conditional approval.!!They were not transparent what documents they are after from the beginning. They even wanted to know how my salary is calculated and wanted to know my company's business details!!!!! I withdraw my application and resubmit to NAB as my land settlement date was after 10 days. NAB did it in a week with only the statements and salary report.

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Cameron R.

Cameron R.Perth, WA

Home loan discharge pain

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very disappointed with Boq Cockburn. Switching home loans to another bank to save money and they are making us and the new bank wait 20 days to discharge, even though they have had the discharge paperwork from the new bank 2 weeks ago.
Will not recommend this bank and will definitely be telling my friends and families who are with these guys to leave!
Grow up!

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How do you give a zero rating!

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Absolutely the worst bank to get a mortgage through. We had to push financing back twice... and now settlement back twice. They are disgusting to deal with. They outsource their documentation and pay no attention to your deadlines. We are deciding whether to pull out of a house purchase right now because they can't produce loan documents. BDM of BOQ are useless... they can't even get things escalates. Stick to your big banks... they know what they are doing!

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Anu

AnuLyndhurst

  • 2 reviews
  • 3 likes

BOQ terrible

published

We are currently with BOQ and in order to refinance we have been waiting for 3 months as BOQ keeps pushing the settlement date to release our loans. Very pathetic . Never go with BOQ. Im taking ombudsman action here

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Apatel

ApatelPerth

Worst interest rates

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Good introductory mortgage rates to rope you in but forget about it after that. Our interest rates have gone up every few months for the last year or so. Hard to see that they can offer extremely low rates to new buyers but don't really care about those of us that have been with them for years. Can't wait to move.

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Personal Banking with NO service

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They promote personal banking. LOL!!!!! We haven't heard from the Castletown branch since our loan was approved. Sometimes not even when our interest rate goes up. Which is quite regular. Lodged an enquiry online. Was advised that I would receive a call from Castletown, Townsville branch.....still waiting!!!!
Now have enough equity to release security held and even though we have l9weref our debt below reqiited amount, a valuation was required. Now they are ASKING for an amount 1 1/2 times more to release it. Stay clear!!!

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Devan

DevanVictoria

  • 4 reviews
  • 3 likes

Don't be fooled they will raise your rates significantly

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Mehrad

MehradBrisbane

  • 2 reviews
  • 3 likes

BOQ CPA offer is fake

published

We have applied the home loan 2 times in this bank under their CPA offer but they have just rejected our applications without any reason. In fact, they are offering the fake promotions to the people and wasting the people's time. I would not recommend this bank to anyone and I am sorry for CPA Australia that they are partner with them. I would never touch BOQ for anything. Very disappointed!

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Not bad for the first year, but forget about it after that

published

We have been loyal BOQ customers for 20+ years. I negotiated a reduction in our loans about 6 months ago, then within 1 month they advised me the loans were being increased again, basically up to where we had started. I called the bank 3 times to renegotiate and no-one called me back. Went into the branch to talk to the manager who said she had organised a great deal for me, still almost 3/4 of a percent above their introductory rate. Stated it was bank policy not to reward loyal customers with introductory rates so BOQ, you have lost 1/2 million in earnings from this (no longer) loyal customer.

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Minnie

MinnieNewcastle

Interest Rates - Terrible

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Dave

DaveSydney, NSW

  • 4 reviews
  • 2 likes

Nothing but the run around trying to discharge Mortgages

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Sam L.

Sam L.Perth

I look forward to leaving BOQ

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I am looking forward to leaving the Bank of Queensland so I don't get charged for something that I know nothing about.

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Jing

JingQueensland, 4152

  • 6 reviews
  • 1 like

Took 2 months to get the loan approved, only to get a higher interest rate

published

I attempted to refinance to BoQ. Having promptly submitted all requested documents, it still took them 2 months to get the mortgage approved. Being a refinance, I was under no time pressure, so I just waited for them to get it done. So after waiting 2 months, I finally get a mortgage contract to sign, except the rate was about 0.3% higher than the deal that I had applied for. There was no official cash rate increase in that time, and they never bothered to tell me about the rate increase. They just made me wait 2 months to get a worthless contract with a higher rate that I was not going to accept. A complete waste of time. I would never touch BoQ for anything.

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Piga

PigaGreater Melbourne (Outer), VIC

  • 2 reviews
  • 5 likes

Worst Bank... don't get attracted with their Interest rates..

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Natalie

NatalieSydney

  • 6 reviews
  • 3 likes
  • Verified customer

As unethical as the big 4 banks

published

We got our home loan from BOQ after seeing their attractive interest rates however even before we signed the documents, we were advised their interest rates had increased. At that point, we had limited time so went with it but didn't not expect our rates to be systematically increased every 2 months after that! They have increased our rates 3 times since we signed with them 7 months ago and after receiving the latest increase yesterday, have decided enough is enough and are currently actively looking at switching. BOQ is NOT a bank to love, and are just as unethical as the big 4 banks.

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Jelly

Jelly

  • 4 reviews
  • 4 likes

Worst bank ever will like to give 0 - 1 star is too much

published

I am a CBA customer but I looked at attractive interest rate BOQ had advertised so I approached them for refinance...took them 8 months to say they won't give us loan after losing documents 2 times and interest rate changes 3 times... Staff is always on holiday...They don't know value of time. They are worst bank on planet earth. WORST BANK

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bronkie

bronkieCairns

  • 2 reviews
  • 2 likes

Poor Head Office Communication, Watch Your Diffrent Banks If You Got Several Rentals

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SimpleUser

SimpleUserMelbourne, VIC

Never use the service from Baconsfield Branch - VIC

published

Tried refinancing with BOQ after discussing with the business development manager in Baconsfield branch. Supplied all documents, valuation done, all discharge papers signed - after all the hassle, no response. Never returns the call. At least don't have the courtesy to tell what happened to the application.
Never, ever suggest this bank or this lending manager to anyone. Utterly disappointed!

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Damian

Damian

  • 2 reviews
  • 1 like

Do not use the Werribee branch in melbourne

published

The manager George their is an absolute tool. He keep hanging up on me because the enquiry that i had about was about taking business away from his branch. People should be humble in there loses and grateful with there wins. This was poor service and i would never use them again or recommend them to any of my friends or Family.
nothing
everything

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Questions & Answers

Naser

Naserasked

I am thinking for a refinance with BOQ but given all the negative response can you ensure that you will not increase the rate at least for a year unless RBA change the rate? Even if you need to increase the rate without RBA rate change how much and how often would you change the rate? Please answer specifically.

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Chance84

Chance84asked

What was the average time it took to get a approval? We have been waiting for a few weeks now and every time I call them to ask they feed me lies about why it is taking so long. Be Klingon very frustrating!!

1 answer
Bronkie27
Bronkie27

If you have a good credit rating a job with a good income you should know in less than 48 hours.Final approval should be in a week . Change banks if you not happy now it is not going to get any better . Good luck

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