bcu home loans

bcu
bcu's overall rating for home loans

(as rated by the Mozo community)

8.0 / 10

based on 37 reviews

bcu was started in the 1970s by a bunch of north coast banana growers - no, seriously. Now, bcu’s network stretches from Port Macquarie to the Sunshine Coast, with internet and phone banking services, so not matter where you are, you can keep one eye on your home loan. 

An alternative to the big banks, bcu prides itself on fair fees and little extras that will make repaying your home loan a piece of cake. So you’d have to be bananas not to check out the details of these great home loan offers.

Rates and fees verified as correct at 20 November, 2018. Other information correct at the time of writing.

What home loans do bcu offer?

Fixed Rate Home Loans Fixed Rate Home Loans

With the fixed rate home loan option from bcu, you can borrow up to $2,500,000, with as little as 5% of the property’s value for a deposit. You’ll pay an upfront application fee, and you’ll also have the option of making extra repayments, although on the fixed rate option, a fee does apply. To make budgeting easier, you can choose to make monthly, fortnightly or weekly repayments to match when you get paid. Plus, if you think you’d like the security of fixed rates but with a little added wiggle room, why not split your home loan between a fixed and variable rate?

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡  

4.25% p.a.

5.06% p.a.

$0.00

$600

4.15% p.a.

5.04% p.a.

$0.00

$600

4.00% p.a.

4.82% p.a.

$0.00

$600

3.90% p.a.

4.78% p.a.

$0.00

$600

Go to site
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Variable Rate Home Loans Variable Rate Home Loans

If you’re looking for flexibility in your home loan, check out one of the great variable rate home loan offers from bcu. Depending on which option you choose, you can borrow up to $2,500,000 with an LVR of up to 95%, but keep in mind that some options have a maximum LVR of just 80%. Like the fixed rate alternative, you’ll pay an upfront application fee for any variable rate home loan from bcu, and if you opt for the OMG home loan offer, you’ll also pay a yearly service fee. As far as features go, you’ll have the option to make fee free extra repayments, and there’s a redraw facility if you need any of those funds back - but remember a minimum redraw amount does apply, and if you’ve opted for an OMG home loan, a fee applies to redraws. If you opt for the Standard variable home loan, you’ll also get the use of a 100% offset account to keep interest costs low.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡  

4.70% p.a.

4.75% p.a.

$0.00

$600

4.60% p.a.

4.65% p.a.

$0.00

$600

4.41% p.a.

4.46% p.a.

$0.00

$600

4.35% p.a.

4.40% p.a.

$0.00

$600

4.14% p.a.

4.19% p.a.

$0.00

$600

4.10% p.a.

4.14% p.a.

$0.00

$600

4.04% p.a.

4.08% p.a.

$0.00

$600

Go to site

3.89% p.a.

3.94% p.a.

$0.00

$600

3.85% p.a.

3.89% p.a.

$0.00

$600

3.79% p.a.

3.83% p.a.

$0.00

$600

Go to site

5.40% p.a.

5.45% p.a.

$0.00

$600

5.30% p.a.

5.35% p.a.

$0.00

$600

5.11% p.a.

5.16% p.a.

$0.00

$600

5.05% p.a.

5.10% p.a.

$0.00

$600

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Line of Credit Line of Credit

Want to use the equity in your home to fund your next big spending goal? With a line of credit mortgage from bcu you can make it happen. Available for up to 90% of your home’s value, you can secure up to $2,500,000. But remember to budget for the initial application fee, and lender’s mortgage insurance, which you’ll need to have no matter what your LVR.

Product Rate Comparison Rate* Service fee Upfront fee

5.35% p.a.

n/a

$695.00 yearly

$600

5.10% p.a.

n/a

$0.00

$600

4.65% p.a.

n/a

$695.00 yearly

$600

4.40% p.a.

n/a

$0.00

$600

Hide

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

bcu home loan features in a glance

Low depositLow deposit

With the exception of line of credit loans and the OMG variable rate offer, you can snag a bcu home loan with as little as a 5% deposit. Just keep in mind that when you have a deposit of less than 20%, you’ll usually also need to fork out for lender’s mortgage insurance.

Unlimited extra repaymentsUnlimited extra repayments

Any bcu home loan gives you the option to make additional repayments and pay your loan off faster. Just remember that while there’s no penalty for doing so on a variable rate loan, you’ll pay a fee for extra repayments made on a fixed rate mortgage, plus, paying the entire loan off early might incur extra penalties.

Flexible repayment scheduleFlexible repayment schedule

You can choose monthly, fortnightly or weekly repayments, to fit in with your budget.

No ongoing service feesNo ongoing service fees

A bcu home loan is easy on the wallet, with no ongoing service fee on any mortgage option, except the OMG home loan offer, which incurs a yearly fee. But keep in mind there is an upfront application fee for all bcu home loans.

How are bcu home loans rated?

Now you know all the details, learn from what others have to say about bcu home loans by browsing our customer review section.

bcu home loans

Overall 8.0

Price

Features

Customer service

Convenience

Trust

36 Reviews

Recent bcu home loan reviews Recent bcu home loan reviews

bcu

bcu Fixed Rate Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   10 / 10

Great rates!

Easy process with great rates and service!

Full review

Easy process with great rates and service!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Tracy, Queensland, reviewed about 2 months ago

bcu

bcu All in One Line of Credit (Owner Occupier) home loan review

Overall rating   9 / 10

Still smiling.

All we want smoothly and easily. Staff listened to my needs and suggested a great product that will assist me now and into the future.

Full review

All we want smoothly and easily. Staff listened to my needs and suggested a great product that will assist me now and into the future.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Jenny, New South Wales, reviewed over 2 years ago

bcu

bcu Standard Variable Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

Good service

They did their job

Full review

They did their job

    Price   7 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Sherilynne, New South Wales, reviewed over 2 years ago

bcu

bcu Standard Variable Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

For ease of use and customer service excellent

Rebecca was excellent - made life very easy and manageable for 2 working people

Full review

Rebecca was excellent - made life very easy and manageable for 2 working people

    Price   7 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Michael, New South Wales, reviewed over 2 years ago

bcu

bcu Standard Variable Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   3 / 10

Hopeless and difficult to deal with

This review is worse than the last. Really disillusioned with the BCU at present. Have been with them for over 30 years. When I relocated 2 years ago they advanced me $20,000 variable rate secured mortgage for renovations to my property. I...

Full review

This review is worse than the last. Really disillusioned with the BCU at present. Have been with them for over 30 years. When I relocated 2 years ago they advanced me $20,000 variable rate secured mortgage for renovations to my property. I have never defaulted on a payment, my pension has gone in every two weeks, I have a credit card which has never been behind. I recently applied for a $6000 top up for more work on my house. I was declined - age discrimination - said they did not want to "saddle me with more debt" because I am 71 years old. Am really really angry and insulted and am in the process at the moment of trying to change everything over to another provider closer to where I live. I have recently acquired some casual work - one day a week - so have resubmitted my application to BCU just to see what they come back with but do not expect any joy. Totally disillusioned.

    Price   7 / 10

    Features   1 / 10

    Customer service   5 / 10

    Convenience   3 / 10

    Trust   1 / 10

Less

Edith, New South Wales, reviewed almost 3 years ago

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What do you need to apply for a bcu home loan? What do you need to apply for a bcu home loan?

Ready to sign up and make that first home dream a reality? To do so, you’ll need to be over 18, a permanent Australian resident or citizen and be in a good financial situation - which means no outstanding defaults, judgements or bankruptcy.

You’ll also need to provide information about:

  • The loan amount and term you’d like
  • Your personal and contact details
  • Your financial details, including assets, expenses and debts
  • Your employment details, including salary
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