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Find out how much you could save by switching to a Bank of Melbourne home loan

Why refinance

Learn about the reasons why you might want to find another home loan.

The costs

Find out what you’ll likely need to spend in addition to the cost of the property.

The process

Find out what you’ll need to do to apply for a loan.

Special offer


$2k

Refinance Cash back^

For new Owner Occupier (Principal & Interest) or Investment home loans with the Advantage Package. $395 annual package fee and $250k min loan per property applies. Excludes refinances from within Westpac Group. Applications received by 30 September 2019 and loan settled by 30 November 2019.

New Owner Occupier Loans

  • 2.99% p.a 2 year Fixed Rate
    with Advantage Package.1
    Principal & Interest repayments.
    LVR+ above 60% up to 80%
  • 3.90% p.a Comparison rate2

New Residential Investment Loans

  • 3.59% p.a 2 year Fixed Rate
    with Advantage Package.1
    Principal & Interest repayments.
    LVR+ above 60% up to 80%
  • 4.47% p.a

    Comparison rate2

     

Fees

  • $600 Establishment Fee3
  • $10 Monthly administration fee
  • OR
  • $0 with Advantage Package1

Start your application online

Learn how much you could borrow.
Receive indicative approval in under 15 minutes.
A home loan expert will call you once you have submitted your application to talk through next steps.

The Detail

Conditions, fees and credit criteria apply. Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement - General Terms and Conditions (PDF 1MB)

Loan Accounts - Charges for specific services and accounts (PDF 841KB)

Portfolio Loan Agreement - General Terms and Conditions (PDF 578KB)

Bank of Melbourne Advantage Package - Terms and Conditions (PDF 889KB)

Please read these documents and keep a copy. You can request a paper copy at a branch. 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.

  1. Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible Bank of Melbourne transaction account. The discount and fee savings apply for the duration of the package.
  2. 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.
  3. Other upfront fees and costs may apply.

+LVR stands for the initial loan to value ratio at loan approval. 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 don’t change because of changes to the LVR during the life of the loan.