What are the fees I should be aware of with BOQ Specialist home loans?

Be prepared for a high annual fee of $495 and a discharge fee of $350 per property. It's important to review the terms carefully to avoid surprises.

Are BOQ Specialist's interest rates competitive?

Some borrowers have found the interest rates less competitive than advertised. It's crucial to compare their rates with other lenders to ensure you're getting the best deal.

Does BOQ Specialist offer any special benefits for medical professionals?

Yes, they offer refinancing options with up to 90% no LMI loans specifically for medical professionals, which can be a significant benefit.

How much could I save by refinancing to BOQ Specialist?

Refinancing a $1,000,000 loan could save you $1,031 monthly, totaling $371,129 over 30 years. It's a good idea to calculate based on your specific loan amount.

What should I expect regarding customer service with BOQ Specialist?

Some customers have reported dissatisfaction with long wait times and unhelpful interactions. It's advisable to be patient and persistent when dealing with service issues.

Are there any hidden costs with BOQ Specialist loans?

While there's a limited-time waiver for the $495 establishment fee on vehicle and equipment finance, be cautious of potential hidden costs elsewhere in the loan terms.

What is the monthly repayment for a $500,000 loan at BOQ Specialist?

For a $500,000 loan at 8.02% over 30 years, the monthly repayment is $3,676, with a total interest of $823,287.

Does BOQ Specialist offer any rewards for using their services?

Yes, new Signature credit cardholders can earn 20,000 bonus rewards points by using their card 10 times in the first two months.

How does BOQ Specialist handle loan discharge?

There is a discharge fee of $350 per property. Make sure to account for this when planning to pay off or refinance your loan.

UPDATED JUN 23, 2026

BOQ Specialist Home Loans: The 2026 Review

Tailored for medical professionals, BOQ Specialist offers unique benefits like 20,000 bonus rewards points. Be aware of the high annual fee. Ready to explore your options?

Bheja Verdict

Below Average

2.8/5

✓

Established major bank

✓

Wide range of loan options

Rates above market average

Check Eligibility

BOQ Specialist Home Loans At a Glance

🏷️Best Rate Available

8.02%

Variable • Owner Occupied

💳Application Fee

Upfront fee applies

📅Monthly Fee

$10

Ongoing service fee

Loan Range:$20K - $100.0M

LVR:Up to 96%

Products:12 variations

Offset Account:Available

Current BOQ Specialist Home Loan Rates

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Average Rate: 9.03%
Best Rate: 8.02%
Monthly Payment: $3,676

Advanced

Sort By

Basic Home Loan
BOQ Specialist
Min 10% DepositOffsetRedraw
8.02%
Interest Rate
Variable
8.20%
Comparison Rate*
$3,676
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Fees:
Ongoing/month
$10
Plus Home Loan
BOQ Specialist
Min 4% Deposit
9.44%
Interest Rate
Variable
9.25%
Comparison Rate*
$4,182
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Home Loan Banking Package
BOQ Specialist
Min 10% DepositOffset
9.62%
Interest Rate
Variable
10.09%
Comparison Rate*
$4,248
per month
Principal And Interest
Visit lender’s site
Check Eligibility
Fees:
Ongoing/year $495

BOQ Specialist Product Statistics

Real-time insights and market analysis

BOQ Specialist offers 3 home loan products across 12 variations, the average variable rate is 9.44% p.a., the best available rate is 8.02% p.a..

Average Variable Rate

9.44%

12 products

Average Fixed Rate

—

0 products

Best Available Rate

8.02%

Variable • Owner Occupied • P&I

Total Products

12 variations

Fee Summary

Application Fee

Monthly Fee

$10

Discharge Fee

Late Payment Fee

Key Features

Across BOQ Specialist's range: 8 include an offset account, 4 offer redraw.

Offset Account

67%

Redraw Facility

33%

Extra Repayments

—

Split Loan

—

Product Ranges

BOQ Specialist's interest rates range from 8.02% to 10.65% p.a., maximum LVR from 90% to 96%, loan amounts span $20,000 to $100,000,000.

Interest Rates8.02% — 10.65%

Max LVR90% — 96%

Loan Amount$20K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How BOQ Specialist Compares

FEATURE	BOQ Specialist	ME Bank - ME Go	MOVE Bank	Bank of Queensland Limited
Best Variable Rate	8.02%	5.99%	5.99%	6.03%
Best Fixed Rate (3yr)	—	6.49%	6.59%	6.49%
Application Fee	$0BEST	$0	$600	$300
Monthly Admin Fee	$10	$0	$0	$10
Offset Account
Redraw Facility
Product Variations	12	200	28	68

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Bheja Insight: BOQ Specialist waives application fees, saving borrowers hundreds compared to other major banks.

About BOQ Specialist

Company overview and contact information

BOQ Specialist, a major bank under the Bank of Queensland Limited, is renowned for its tailored financial services. Operating independently with both branch and online delivery models, it holds an Australian Financial Services Licence (AFSL) and Australian Credit Licence (ACL), ensuring compliance and trustworthiness. Headquartered in Newstead, QLD, BOQ Specialist is a regulated Authorised Deposit-taking Institution (ADI) by APRA, reinforcing its strong market position.

BOQ Specialist offers a diverse range of home loan products, featuring 12 variations with interest rates ranging from 8.02% to 10.65%. These products are specifically designed to meet the unique needs of medical professionals, providing them with specialized financial solutions. This focus on a niche market segment allows BOQ Specialist to deliver tailored services that align with the career and lifestyle demands of healthcare professionals.

What sets BOQ Specialist apart is its commitment to simplifying the lending process for brokers and clients, particularly at a time when broker flows to major banks are decreasing. This strategic approach, combined with its specialized programs for medical professionals, positions BOQ Specialist as a preferred choice for those seeking personalized and efficient financial services.

Company Details

Legal Name: BOQ Specialist

ABN: 32009656740

ACN: 009656740

Headquarters: Newstead, QLD

Ownership: Independent

AFSL: 244616

Parent Company: Bank of Queensland Limited

Key Features

BOQ Specialist offers tailored home loan solutions with features designed for flexibility and cost efficiency, including high LVR borrowing without LMI and a range of account options to manage interest effectively.

Optional Transactional Account

BOQ Specialist provides an optional transactional account with a favourable interest rate on credit balances. This account is linked to your home loan, helping to reduce interest costs by offsetting the loan balance.

Redraw Facility

Access surplus funds with BOQ Specialist's redraw facility, available on variable rate loans. This feature allows borrowers to manage extra repayments, though fees may apply.

Variable or Fixed Rate Options

Choose between variable or fixed rate home loans with BOQ Specialist, providing flexibility to suit your financial strategy and market conditions.

High LVR Borrowing

BOQ Specialist allows borrowing up to 90% LVR without the need for Lenders Mortgage Insurance (LMI), making it easier for borrowers to enter the property market with a smaller deposit.

24/7 Client Service Centre

Benefit from round-the-clock support with BOQ Specialist's Client Service Centre, ensuring assistance is available whenever needed.

Offset Account

An optional offset account linked to a variable rate home loan helps reduce interest payments by offsetting the loan balance with the account balance. This feature is available on select products.

Bundled Loan Management

Manage up to five loans in one package with BOQ Specialist, simplifying financial management and providing a consolidated view of your borrowing.

Platinum Credit Card

BOQ Specialist offers a Platinum credit card with premium rewards and benefits, enhancing the value of your home loan package.

Online Banking Services

BOQ Specialist provides comprehensive online banking services, allowing convenient account management and access to financial tools and calculators.

Fees & Charges

BOQ Specialist offers a range of home loan products with a transparent fee structure, including both upfront and ongoing fees. Borrowers can benefit from certain fee waivers and should be aware of potential high annual fees.

Fee Type

Amount

Description

Monthly Fee

$10/month

Charged monthly but waived if a transactional account is opened and used as the primary account for repayment.

Annual Fee

$0-$495/year

Varies by product; some products may have no annual fee while others charge up to $495.

Valuation Fees

Covered up to $1100

Valuation costs are covered up to $1100 including GST.

Discharge Fee

$350

Charged per property when a loan is discharged.

Establishment Fee Waiver

$495

Waiver available for vehicle and equipment financing if settled by 30 June 2026.

High Annual Fee

$495/year

Considered a high fee, applicable to certain products.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

BOQ Specialist offers home loans tailored for medical, dental, veterinary, and accounting professionals, ensuring flexible and competitive options for eligible borrowers.

Must be at least 18 years old.

Must be an Australian resident or citizen.

Must be a qualified medical, dental, veterinary, or accounting professional.

Eligible for loan amounts ranging from $20,000 to $99,999,999.

Loan-to-Value Ratio (LVR) must be between 90% and 96%.

Important Notes

LMI may be required for loans with high LVR.
Specialist financial services are available for medical professionals.
Ensure all documentation is accurate to avoid delays in processing.

BOQ Specialist Home Loan Pros & Cons

Our expert take on whether BOQ Specialist is right for you

Pros

+Specialized services for medical professionals
+Borrow up to 90% LVR with no LMI
+24/7 customer service
+Optional transactional account with favorable interest rates
+Access to a redraw facility

Cons

–Above market interest rates
–High annual fee of $495
–Limited product range
–Customer service complaints

Best For

Medical professionals seeking specialized financial services
Borrowers wanting a high LVR without LMI
Customers valuing 24/7 service
Those interested in linked transactional accounts

Not Ideal For

Borrowers seeking the lowest interest rates
Customers sensitive to high fees

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Bheja Verdict: BOQ Specialist offers tailored home loans with unique benefits for medical professionals, but their rates are notably higher than the market average.

Expert Secrets (Why Use Us?)

Insider knowledge about BOQ Specialist that most borrowers don't know

LMI Cost Examples

1$500,000 loan at 83.33% LVR: ~$4,150 LMI

2For a $500,000 loan at 85% LVR, LMI costs $6,000.

3At 90% LVR, the LMI for a $500,000 loan increases to $12,500.

4A $500,000 loan at 95% LVR incurs an LMI of $21,000.

Fee Waivers

$495 establishment fee waiver for vehicle and equipment financing if settled by 30 June 2026.

Offset Benefits

A $10,000 offset account can save approximately $67 per month, totaling $804 annually.

With a $25,000 offset, monthly savings can reach $167, amounting to $2,004 per year.

A $50,000 offset account provides a monthly saving of $334, equating to $4,008 annually.

A $100,000 offset account can save $668 monthly, resulting in $8,016 in annual savings.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

6 Steps

Contact BOQ Specialist: Call BOQ Specialist at 1300 160 160 to initiate the discharge process and request the necessary forms. (Tip: Have your loan account details ready when you call.)

Complete Discharge Form: Fill out the discharge form provided by BOQ Specialist. Ensure all details are accurate to avoid delays. (Tip: Double-check your property and loan details before submitting.)

Pay Discharge Fee: Pay the discharge fee of $350 per property. This fee is required to process the discharge. (Tip: Confirm payment methods accepted by BOQ Specialist.)

Submit Form and Payment Proof: Submit the completed discharge form and proof of payment to BOQ Specialist. This can usually be done via email or mail. (Tip: Keep copies of all submitted documents for your records.)

Book Settlement: Coordinate with your settlement agent or solicitor to book the settlement date. Ensure BOQ Specialist is informed of the date. (Tip: Schedule the settlement at least two weeks in advance to accommodate any unforeseen delays.)

Finalize Discharge: Once the settlement is complete, confirm with BOQ Specialist that the discharge has been finalized and all obligations are settled. (Tip: Request a confirmation letter from BOQ Specialist to ensure the discharge is complete.)

Processing Times

Discharge Process10-14 business days

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Pro Tips

Request the discharge at least two weeks before your intended settlement date to avoid delays.
Ensure all forms are filled out accurately to prevent processing issues.
Keep a record of all communications with BOQ Specialist for reference.
Consider negotiating the discharge fee if you have multiple properties or a long-standing relationship with BOQ Specialist.
Avoid common mistakes like missing signatures or incorrect loan details on forms.

BOQ Specialist Mortgage Calculator

Estimate your repayments using current BOQ Specialist home loan rates

Over 30 years, borrowing $480,000 at 8.02%, total cost including interest and known fees could be around $1,277,555. Estimated monthly repayment: $3,528.76.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,277,555

Estimated repayment

$3,528.76

monthly repayment

Amount you borrow: $480,000 · At 8.02% · Variable — can change with the market

Known fees in this estimate

Monthly fee: $20 / month
Total ongoing fees (30 yrs): $7,200

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $790,355
Upfront fees: $0
Ongoing fees: $7,200
Estimated total cost: $1,277,555

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if BOQ Specialist is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Approval times can vary, but BOQ Specialist doesn't provide explicit timelines. It's best to contact them directly for a more accurate estimate based on your application.