- A Relocation Home Loan removes the stress of timing the sale of your existing property with the purchase of your new property
- You have a 6 months to build your new home and a further 6 months to sell your existing property1
- Use a Relocation Loan to pay for the deposit on the new property and then borrow the balance at settlement, plus additional expenses like stamp duty and removalist costs
- A great alternative to bridging finance, which can be expensive, with a competitive interest rate
A Bank of Melbourne home loan expert will contact you at your preferred time
How to apply
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
- Loan Accounts – Charges for specific services and accounts
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.
## Excludes Investment loan applications where the principal property securing the loan will be used to derive rental income or where the loan application purpose is to invest in real estate or to construct or make property improvements to an investment property.
1. Building must be completed within 6 months of the date of the first advance under Relocation Loan. The sale of the existing property must be settled on or before 6 months after the date of the final progress payment – a total maximum relocation period of 12 months.
2. Other upfront fees and costs may apply.
3. The comparison rate is based on a loan of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
4. Advantage Package annual fee of $395 applies, other fees may be payable. The interest rate discount and fee savings apply for the duration of the package. Contact Bank of Melbourne to see if you are eligible to receive Advantage Package benefits
5. Redraw requests are subject to our approval. Fees apply. For fixed rate loans, redraw is only available for loans fixed on or after 30 November 2009 up to a maximum of $10,000 or break costs may apply.
6. Subject to systems availability.