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Pause Repayments

There are times when a holiday from your mortgage repayments would really help. Repayment Pause is a feature on eligible home loans where you can apply to reduce or stop repayments for an approved period.

Apply for Repayment Pause during leave from the workforce

If you have an eligible home loan and are facing a legitimate period of leave from the workforce, you can apply for a Repayment Pause. For example, you may want a Repayment Pause during maternity leave or for travel. It’s also possible to apply for a Repayment Pause if you’re ahead of your home loan repayment schedule.

You can choose to pause your home loan repayments entirely, or just reduce them.

There are 2 types of Repayment Pause available:

  • Repayments fully paused
  • Repayments reduced to a requested amount.

You will need to have had your home loan for 12 months to be eligible for a Repayment Pause.

All Repayment Pause requests are subject to Bank approval. Normally the timeframe for a Repayment Pause is for 3-12 months. Not all loan types are eligible, so please check your Terms and Conditions booklet or call us on 1300 304 660.

How to apply

Talk to an expert
Speak to one of our home loan experts on 1300 304 660 to learn about ways that we can help you manage your finances, including applying for a Repayment Pause.
Visit a branch
You can also drop by a Bank of Melbourne branch to apply.

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)

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.