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Basic Home Loan (Principal and Interest) (LVR < 60%) (New Customer)

For any query, Call: 1300 001 153
SpecialEstablishment fee waived when borrowing more than $150k 
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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • Extra low interest rate for refinancers
  • Extra low interest rate for new customers
  • No ongoing fees
  • Parents can sign as guarantor
Cons:
  • Discharge fee at end of loan
  • Repayments may increase if RBA raises rates
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Fees and Features

Maximum LVR
Maximum LVR
60%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$150k - $100m
Total repayments
Total repayments
$359,100
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$264.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$100
Valuation fee
Valuation fee
$164
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$350
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
60%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$150k - $100m
Total repayments
Total repayments
$359,100
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$264.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$100
Valuation fee
Valuation fee
$164
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$350
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
  • Special Establishment fee waived when borrowing more than $150k
    And a $0 establishment fee if you borrow more than $150k when making Principal & Interest repayments
  • Cashback $2,000 cashback for refinance for new applications for eligible Advantage Package loans
    For new Owner Occupied (Principal & Interest) or Investment home loan under the Advantage Package. $395 annual package fee and $250k minimum loan size applies. Excludes Portfolio Loans and refinances. Applications received by 31 January 2020 and loan settled by 31 March 2020. Offer available on the Advantage Package and Basic Home Loans for Owner Occupier with Principal and Interest repayments and Investment Loans. $250k min loan per property refinanced. Only 1 cashback per property refinance will be paid regardless of the number of loans involved.

Bank of Melbourne is an Australian bank that is based in Victoria. With headquarters in Melbourne, the bank has 106 branches spread across the state.

Although Bank of Melbourne was established in 1989 as an independent organisation, it has been part of the Westpac Group since 1997.

Bank of Melbourne, or BoM as they are also known, also a wide range of home loans, both through its branch network and through mortgage brokers.

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