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Why you and your clients should refinance to Bank of Melbourne

FASTRefi® option
If your clients qualify for FASTRefi®, settlement could take days rather than weeks after signing their loan documents.^^
NextGenID
With NextGenID, your clients can now verify their identity securely and seamlessly using a smartphone without the need to go into a branch.
Broker Support
With Broker tools and education, superior BDM support, and direct access to our Credit Team and call centre, we're with you all the way.
Current home loan rates
Our latest interest rates include applicable LVR+ discounts or additional margins for new home loans.

Basic home loan. No-frills rate.


6.29

% p.a.
variable rate

(LVR+ up to 70%)
Rate includes 1.82% p.a. discount off our Basic home loan variable rate. Also includes 0.10% p.a. discount for LVR+ up to 70% (your client's deposit must be min 30% of property value). For new Owner Occupier loans (Principal & Interest^^^).

6.30

% p.a.
Comparison rate*

T&Cs apply. See comparison rate warning.

The Westpac Group is an Australian Mortgage Awards Winner for 2023

The Westpac Group was awarded at the Australian Mortgage Awards in the Lender Category as the 2023 Q2 Bank of the Year. This award recognises the best bank in the mortgage industry1.


The Detail

Conditions, credit criteria, fees and charges apply.  Based on Bank of Melbourne’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.

Loan Accounts – Charges for specific services and accounts (PDF 33KB)

Advantage Package - Terms and Conditions (PDF 179KB)

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 22 66.

^^FASTRefi® : Only available: on eligible new Bank of Melbourne home loans; on eligible home loans with your clients’ current lender; if your clients’ other lender is on the FASTRefi® process list of eligible financial institutions. Your clients' other lender may charge your client an additional settlement agent fee, as well as fixed rate home loan break costs. Loan suitability for the  FASTRefi® product is determined by Bank of Melbourne in conjunction with the insurance product guidelines. FASTRefi® is a registered trademark of, and is and provided by First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908 Australian Financial Services Licence 263876, trading as First Title, an Australian general insurance company authorised by the Australian Prudential Regulation Authority. Conditions, fees and charges apply. Lending criteria apply to approval of credit products. This info doesn’t take your clients' personal objectives, circumstances or needs into account, so please consider  FASTRefi®’s appropriateness and read the disclosure documents for your clients' selected loan, including the Terms and Conditions, before deciding.

^^^Basic Home Loan Promotional Rates:

Basic Home Loan Promotional Principal and Interest Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Residential Investment Basic Principal and Interest Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Basic Home Loan Promotional Interest Only Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Interest Only repayments received from 26/10/2020. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Residential Investment Basic Interest Only Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Interest Only repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Advantage Package Terms & Conditions (PDF 179KB) apply. A $395 annual package fee applies and is payable from a Bank of Melbourne Complete Freedom transaction account. Before deciding to open a Bank of Melbourne Complete Freedom account, read the Terms & Conditions, and consider if the account’s right for you. 

*Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

+LVR stands for the initial loan to value ratio. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.

1The Westpac Group was awarded the Q2 Bank of the Year award at the Australia Mortgage Awards in October 2023.