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Read on to compare some of Bank of Melbourne’s key home loan interest rates and the key features they have.
You can choose a fixed-rate term ranging from 1 to 5 years. Over the fixed term, your repayments will remain the same, thus allowing you to plan your budget better.
With a variable rate home loan, your repayments will generally move up and down with any changes in your interest rate. While it doesn’t offer the certainty of a fixed interest rate, it allows you to benefit from decreasing market rates.
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
Bank of Melbourne is a division of Westpac Banking Corporation, founded as Victoria’s local bank in 1989. It was officially relaunched in 2011 following a $ 1.4 billion merger with Westpac and now employs more than 1,200 people across the country.
Bank of Melbourne issues a variety of credit, deposit and payment products, including home loans, credit cards, personal loans, transaction accounts, superannuation and more.
Bank of Melbourne offers home loan products to people making a range of property purchases, including buying an established home, building a new home, purchasing a vacant block of land or a house and land package. These home loan products fall under the following main categories:
Bank of Melbourne offers a range of interest rates on home loans for both owner-occupiers and property investors, including variable and fixed rates of up to five years. You can find the complete list of interest rates on their home loans here.
As a home loan customer at Bank of Melbourne, you might be eligible for some of the following home loan features:
Applying for a mortgage with Bank of Melbourne can be done online. According to Bank of Melbourne, conditional approval online generally takes 15 minutes, though unconditional approval is unspecified as it depends on a multitude of factors.
Alternatively, you can send an online inquiry, give the team a call on 13 22 66 or find a local branch or mobile lender whom you can talk to in person.
To apply for a home loan with Bank of Melbourne, you generally need to meet the following criteria:
To ensure a smooth application, you’ll generally need to have these documents ready for submission: