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Bank of Melbourne

Advantage Package

Advertised Rate

3.83

% p.a

Variable

Comparison Rate*

4.24

% p.a

Maximum LVR
Less than 90%
Real Time Rating™

2.16

/ 5
Monthly Repayment

$1,555

based on $300,000 loan amount for 25 years at 3.83%

Advertised Rate

3.83

% p.a

Variable

Comparison Rate*

4.24

% p.a

Maximum LVR
Less than 90%
Real Time Rating™

2.16

/ 5
Monthly Repayment

$1,555

based on $300,000 loan amount for 25 years at 3.83%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,555

based on $300,000 loan amount for 25 years at 3.83%

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

MD ALI Kawser

4.9
7 Reviews

Get expert advice from a home loans specialist.

I am Ali Kawser, a mortgage broker for 6 years and in the finance industry for 10 years. An investor myself, I have bought my first property in 2016 and owned investment property in 2018. I work from my home office, love to have a balance between work and family. I have helped many of my clients to achieve their dream to purchase their first property, also to purchase investment properties for a better retirement. Most of my meetings and appointments with clients are after hours, means you don't have to hurry to meet the schedule. Through a mortgage broker like myself, you'll have a choice of over 40 lenders including the big four for your convenience. Give us a call, you'll have a better experience!

Response time: in 31 minutes | Our brokers call during business hours between 9.00am to 6.00pm.

Russel Gomes

Get expert advice from a home loans specialist.

In recent times, I found myself lucky to be employed in a Family-owned accountant firm. Before my departure, I've had the opportunity to meet the right network and create further opportunities. As time progressed, I became more intrigued with the financial sector and took a steady approach to get involved in the lending industry. I have completed my studies in Cert IV Finance and Mortgage Broking and hold accreditations with 40 different lenders, big and small, with which I have a good relationship. I don't shy away from complex scenarios and take what I know from each deal to improve my skills. I build on my strengths and work on my weaknesses by believing that communication and time management are the foundation for building my principles.

Response time: in 31 minutes | Our brokers call during business hours between 9.00am to 6.00pm.

Matthew Hayes

5.0
17 Reviews

Get expert advice from a home loans specialist.

Matthew grew up in Canberra, graduating from Erindale College. As part of the Talented Sports Program for Rugby Union, Matthew developed skills in planning, preparation and execution, skills which he utilises as a mortgage broker to help his clients reach and attain their goals. Matthew is friendly and professional, always ensuring his time with you is stress free and pleasant. He does the hard work for you, helping you find the loan which suits you best. Matthew is dedicated to providing his clients with the best possible service, accommodating you at any time, any location, any day of the week.

Response time: in 10 hours | Our brokers call during business hours between 9.00am to 6.00pm.

Quick home loan review

For Advantage Package Variable Home Loan (Interest Only) (LVR > 80%)

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

Home loan overview

For Advantage Package Variable Home Loan (Interest Only) (LVR > 80%)

TMD

Details

Maximum LVR

Less than 90%

Total Repayments

Next LVR

Interest rate type

Variable

Borrowing range

Suitable for

Owner Occupiers

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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Bank of Melbourne is available through brokers

FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $100k to $99,999,999.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 89.99 percent, which means it requires a minimum deposit of 10.01 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.