We’re your home loan partner
Success with your client's home loan needs requires a great partnership. At Bank of Melbourne, we're here for you as your broker partner.
Latest features that could benefit your clients
Self-employed Policy
If your client's self-employed, let us show you how easy it could be to check serviceability requirements.
Ideas Hub
Explore our Ideas Hub, designed just for you, to inspire new ideas and options for your clients.
Service lead times
Processing times for first touch*
| Full Application | Accredited | Gold | Flame |
|---|---|---|---|
| PAYG Standard | 5 days | 5 days | 1 day |
| PAYG Specialised | 6 days | 6 days | 1 day |
| Australian Government 5% Deposit Scheme | 12 days | 12 days | 1 day |
| Self-employed | 6 days | 6 days | 1 day |
| Individual as Trust | 6 days | 6 days | 1 day |
| Escalations | up to 4 hours | ||
| Approval In Principle | Accredited | Gold | Flame |
| PAYG | 9 days | 9 days | 1 day |
| Self-employed AIPs | 9 days | 9 days | 1 day |
| Returned Information | Accredited | Gold | Flame |
| PAYG Standard | 1 day | 1 day | 1 day |
| PAYG Specialised | 1 day | 1 day | 1 day |
| Australian Government 5% Deposit Scheme | 3 days | 3 days | 1 day |
| Self-employed | 1 day | 1 day | 1 day |
| Individual as Trust | 1 day | 1 day | 1 day |
Definitions
| Standard | PAYG, <=$3M, Fast Track, LMI, >80% LVR |
| Specialised | Australian Government 5% Deposit Scheme, Individual Trustees, Multiple Entities, =>$3m, Construction, Guarantors, Relocation Loans |
| Self-employed | Self-employed (Full Assessment) |
*In by 5pm AEST. Service times are based on the application being lodged correctly with all supporting mandated documents required by Bank of Melbourne. The days shown in the table above are business days.
Applications submitted under the Australian Government 5% Deposit Scheme may require up to one additional business day for processing compared to PAYG Specialised applications. This is in addition to the current service level agreement.
Credit policies and scenarios hotline
Call 1300 137 532 (select option 1, then option 5) for support with credit scenario questions.
Operating hours: Monday to Friday 8:30am - 5:30pm (AEST) or 8am - 5pm (ACST)
This information is a guideline for expected assessment time at the date of publication and may vary depending on various environmental changes. Ensure your application is error-free to get your application processed faster.
Bank of Melbourne works tirelessly to deliver the service levels you expect. While we’re prioritising these queues, we’ll endeavour to keep you updated as our service levels change.
We apologise for any inconvenience and would like to thank you for your continued support and understanding
How we’re making Bank of Melbourne an easy choice
Award-winning BDM team#
Enjoy award winning service from our dedicated team of BDMs. Contact us
Flexible features
From offset to redraw, making extra repayments or using portability when buying and selling, view our products to suit your client.
Product and Policy options
View our helpful guide in understanding our home loan products and policy options.
BrokerHub
Lodge a deal, track applications, request pricing or view our credit policy.
Need some help but don’t know where to start?
The first port of call is to contact a Business Development Manager (BDM) from your State or Territory. Or call our Broker Hotline.
Call the Broker Hotline, Monday to Friday:
8am-6pm (ACST), 8.30am-6:30pm (AEST)
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 360KB)
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.
* In by 5pm AEST. Service times are based on the application being lodged correctly with all supporting mandated documents required by Bank of Melbourne. The days shown in the table above are business days.
^For more detailed information on requirements and eligibility criteria, refer to the Credit Policy in BrokerHub.