Service lead times
We're always working to improve our assessment times for you, ensuring optimal home loan processing for your clients.
Current processing times
Processing times for first touch and returned information*
| Full Application | Accredited | Gold | Flame |
|---|---|---|---|
| PAYG Standard | 1 day | 1 day | 1 day |
| PAYG Specialised | 2 days | 2 days | 1 day |
| Self-Employed | 5 days | 5 days | 1 day |
| Escalations | 1 day | 1 day | 1 day |
| Approval In Principle | Accredited | Gold | Flame |
| PAYG | 2 days | 2 days | 1 day |
| Self-Employed AIPs | 5 days | 5 days | 1 day |
Definitions
| Standard | PAYG, <=$3M, Fast Track, LMI, >80% LVR |
| Specialised | Home Guarantee Scheme, Individual Trustees, Multiple Entities, =>$3m, Construction, Guarantors, Relocation Loans |
| Self-Employed | Self-Employed (Full Assessment) |
* In by 3pm AEDT. 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.
Important information
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.
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 - 5pm (ACDT) or 8:30am - 5:30pm (AEDT)
Need help but don't know where to start?
Forms and Resources
Use our forms and resources to help you submit an error-free application.
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.