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Bank of Melbourne

Advantage Package

Interest rate

3.72

% p.a

Variable

Comparison Rate*

4.13

% p.a

Maximum LVR
60%
Real Time Rating™

2.16

/ 5
Monthly Repayment

$1,538

based on $300,000 loan amount for 25 years at 3.72%

Interest rate

3.72

% p.a

Variable

Comparison Rate*

4.13

% p.a

Maximum LVR
60%
Real Time Rating™

2.16

/ 5
Monthly Repayment

$1,538

based on $300,000 loan amount for 25 years at 3.72%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,538

based on $300,000 loan amount for 25 years at 3.72%

Bank of Melbourne home loans are available through brokers who can help find the right loan and manage your application at no charge.

Joel Flanagan

5.0
11 Reviews

Get expert advice from a home loans specialist.

I'm a loan specialist providing an outstanding professional service for each one of my clients. More than 15 years of experience and seven years as Director of Oak Financial Group, have given me the absolute knowledge about residential & commercial mortgage brokering to help, advise and guide my clients through their loan journey in the most effective way, always aiming to get the most favourable results. I'm available seven days a week, willing to answer my client's enquiries in the most transparent and comprehensive way.

NSW2020

ACL: 389328

George Popadalis

5.5
10 Reviews

Get expert advice from a home loans specialist.

After years of working in the banking industry, George saw firsthand how customers were continuously being put on hold and not treated with respect. So he decided to take matters into his own hands by starting Fetch Loans! George never thought that one day he would find himself running a company whose sole focus is providing an all-around positive experience for their clients every time they need them. But when George realized just what was happening within the customer service sector’s disregard for its customers’ needs, something inside him shifted—and so did his career path. Now at Fetch Loans!, we’re committed to giving our invaluable clientele a stress free loan application process while treating each individual as if it were only us who mattered most throughout this entire journey together

NSW2216

CRN: 524152

Quick home loan review

For Advantage Package Variable Investment Loan (Principal and Interest) (LVR < 60%)

These are the benefits of this home loan.

  • No upfront fees
  • 100% full offset account
  • Parents can sign as guarantor
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option

These are the drawbacks of this home loan.

  • Higher than average interest rate
  • Ongoing fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 60% of the property's value

Home loan overview

For Advantage Package Variable Investment Loan (Principal and Interest) (LVR < 60%)

TMD

Details

Maximum LVR

60%

Total Repayments

Interest rate type

Variable

Borrowing range

Suitable for

Investors

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

0

Application fee

0

Valuation fee

$0

Settlement fee

0

Other upfront fee

0

Ongoing fee

$395 annually

Discharge fee

350

Application method

Online

Phone

In branch

Target Market Determination

Visit Bank of Melbourne to view Target Market Determination.

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $100k to $2,000,000.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 60 percent, which means it requires a minimum deposit of 40 percent

What's the maximum length for this loan?

Bank of Melbourne allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Bank of Melbourne allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $0 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $0 if you need to use it.

Where can you apply for this loan?

Bank of Melbourne makes it possible to apply for this product online. Apply here.

Can a broker help me with this loan?

Yes, this Bank of Melbourne loan is available through a broker. Find a broker to help you with your needs.