Bank of Melbourne Fixed Rate
Borrowers concerned about the possibility of rising interest rates may wish to consider loans with a fixed interest rate term of one to five years.
And this particular Fixed Rate mortgage will help customers budget for their repayments ahead of time, as well as providing the option to extend your interest rate after the fixed rate period.
Bank of Melbourne Standard Variable Rate
This home loan comes with a range of great features that includes 100 per cent interest offset and redraw.
Selecting the Variable Rate will also ensure that buyers get a competitive interest rate without being locked into a set term contract.
Bank of Melbourne Advantage Package
Borrowers will be able to save with the Advantage Package due to the number of discounts on offer for mortgage interest rates and associated fees.
It is the perfect deal for first homebuyers and you can choose the home loan, credit card and transaction account most suitable for you.
Bank of Melbourne Portfolio Loan
The Portfolio Loan allows you to use the equity in your home to make other investments and build assets.
Its main features include a flexible line of credit that combines personal and investment finances in the one home loan, the option to create sub-accounts to suit your lifestyle needs and ability to borrow up to 90 per cent of your home's value.
Bank of Melbourne Basic
The no-frills option for all buyers, the Basic Home Loan comes with a low variable interest rate and also has $0 monthly service fees and flexible repayment options.
This loan is perfect for first home owners, as well as any individual who may prefer a more streamlined approach to their financial solutions.
Bank of Melbourne Introductory Rate
If you are a first home owner or new Bank of Melbourne customer the Introductory Rate loan could be the ideal mortgage option for you and it may also help you save money over the next year.
With a 12 month discounted rate period the loan automatically reverts to the Standard Variable Rate after this time, however, the option to switch to a Fixed Rate mortgage is also available for those who would prefer its unique features.
Bank of Melbourne Low Doc
The Low Doc home loan was made with individuals who are self-employed or business owners in mind and to show this it features a fixed or variable rate loan - as well as a combination of the two - which gives homebuyers maximum flexibility.
It is also easy to apply for using simple documentation such as your last 12 months of Business Activity Statements (BAS) and helps people who may not have a PAYG income to buy the property of their dreams.
Bank of Melbourne Low Doc Portfolio
The Low Doc Portfolio loan is ideal for self-employed individuals or business owners - it features a flexible line of credit that combines your personal and investment finances into one facility.
There is also the option to create up to ten sub-accounts to suit your lifestyle needs, as well as the ability to access your equity while paying off your home loan.
Bank of Melbourne Seniors Access
The Seniors Access loan is only available to applicants who are 63 years old or above. It is a Reverse Mortgage home loan that lets you borrow against the equity in your home while you continue to live in it.
There is also the option to borrow $10,000 to $250,000 depending on your age, property value - which is determined by the bank - and location.
