8.7 / 10

based on 376 bcu banking product reviews as rated by Mozo community

bcu home loans

bcu offers a local alternative to the big banks 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.  

bcu is a division of Police & Nurses Limited following the successful merger between Bananacoast Community Credit Union Ltd and Police & Nurses Limited. In 2021, bcu took out a Mozo Experts Choice Home Loan Award in the Investor Fixed Home Loan category.

What home loans do bcu offer?

Rates and fees verified as correct at 03 August, 2021. Other information correct at the time of writing. Advertiser disclosure.

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 no upfront or ongoing fees, 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

2.49% p.a.

3.67% p.a.

$0.00

$0

2.19% p.a.

3.59% p.a.

$0.00

$0

2.29% p.a.

3.73% p.a.

$0.00

$0

2.19% p.a.

3.71% p.a.

$0.00

$0

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 90%. Like the fixed rate alternative, you’ll pay no upfront or ongoing fees for any variable rate home loan from bcu. 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. If you opt for either the Standard or Maximum Discounted Rate 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

3.42% p.a.

3.43% p.a.

$0.00

$0

3.36% p.a.

3.37% p.a.

$0.00

$0

2.94% p.a.

2.95% p.a.

$0.00

$0

2.44% p.a.

2.45% p.a.

$0.00

$0

4.12% p.a.

4.13% p.a.

$0.00

$0

4.06% p.a.

4.07% p.a.

$0.00

$0

3.62% p.a.

3.63% p.a.

$0.00

$0

3.52% p.a.

3.53% p.a.

$0.00

$0

3.09% p.a.

3.10% p.a.

$0.00

$0

2.99% p.a.

3.00% p.a.

$0.00

$0

4.32% p.a.

4.33% p.a.

$0.00

$0

4.22% p.a.

4.23% p.a.

$0.00

$0

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 79% of your home’s value, you can secure up to $2,500,000. But remember to budget for the initial application fee.

Product Rate Comparison Rate Service fee Upfront fee

4.19% p.a.

n/a

$0.00

$600

3.49% p.a.

n/a

$0.00

$600

4.35% p.a.

n/a

$0.00

$600

3.65% p.a.

n/a

$0.00

$600

bcu home loan features in a glance

Deposit icon

Low deposit

You can snag many of bcu's home loans 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.

Repayment Icon

Unlimited extra repayments

bcu home loans often give 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 before the fixed period ends might incur extra penalties.

Schedule icon

Flexible repayment schedule

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

Free icon

Minimal fees

A bcu home loan is easy on the wallet, with no ongoing service fee or application fee on any mortgage option (except for the line of credit which comes with an application fee). 

How are bcu home loans rated?

Mozo users have rated bcu home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
bcu home loans
Overall
8.1/10
Price
Features
Customer service
Convenience
Trust

40 Reviews

Recent bcu home loan reviews

bcu OMG Home Loan
Overall 9/10
Competitive rates.

Great bank, the staff are lovely and very helpful. The only drawback is the cards don’t work with Apple Pay. They have recently updated their app, which was dreadful but seems better now.

Read full review

Great bank, the staff are lovely and very helpful. The only drawback is the cards don’t work with Apple Pay. They have recently updated their app, which was dreadful but seems better now.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Tatiana, New South Wales, reviewed 7 months ago
bcu OMG Home Loan
Overall 10/10
Quick loan approval and no fee for the loan.

Easy to deal with and fast approval.

Read full review

Easy to deal with and fast approval.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Suzy, New South Wales, reviewed over 1 year ago
bcu Fixed Rate Home Loan
Overall 8/10
BCU is one of the 'must consider' options.

The customer service as well as the interest rates make this credit union one of the 'must consider' options when refinancing or getting a new home loan. What they lack in features, they make up for with savings and customer service.

Read full review

The customer service as well as the interest rates make this credit union one of the 'must consider' options when refinancing or getting a new home loan. What they lack in features, they make up for with savings and customer service.

Price
9/10
Features
5/10
Customer service
9/10
Convenience
8/10
Trust
10/10
Less
Nathan, Victoria, reviewed over 1 year ago
bcu Fixed Rate Home Loan
Overall 10/10
Great rates!

Easy process with great rates and service!

Read 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 almost 3 years ago
bcu Standard Variable Home Loan
Overall 9/10
Good service

They did their job

Read 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 5 years ago

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
  • The purpose of your loan 
  • Your personal and contact details
  • Your financial details, including assets, expenses and debts
  • Your employment details, including salary

Home loan quick links