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How does our relocation loan work?

If you're buying a new home,

a relocation loan could help you pay for the deposit, stamp duty and removalist costs on a new property (as well as the purchase price on settlement). You have 12 months after you receiving any funds to sell your current home.

If you're building a new home,

you can also use a relocation loan, living in your current home until construction is complete. You have 12 months after your first advance to build your new home, and sell the existing home.

Choose from 2 options...

Option 1.

Standalone Relocation loan

You repay the loan in full when you sell your current home.


No repayments are needed until you sell your home, at which point you repay the Relocation Loan in full. The balance you pay off will include interest, which is capitalised into the loan during the loan term.

Although not required, you can make additional lump sum payments at any time.

Option 2.

Relocation loan combined with a new loan

You partially pay off the loan when you sell your current home, then choose from a range of Bank of Melbourne home loans for the remaining balance.


No repayments are needed until you sell your home, at which point the Relocation loan is partially paid off by the proceeds from the sale of your existing home. You will then begin to make repayments on the remaining balance.

You can make additional payments at any time.

Tell me more

New Owner Occupier Loans

  • 5.08% p.a.

    Rate based on LVR+ above 60% up to 75%

  • 5.25% p.a.

    Comparison rate*



  • $600 Lending establishment fee1 (with end loan)
  • $600 Lending establishment fee1 (without end loan)
  • $8 Monthly loan account fee

Tools & research

Research your next home

Search a property or suburb for sales histories, estimated value, expected rent and local amenities, with our full online Property Reports.

Full property & suburb reports

The detail

Residential Loan Agreement

General Terms and Conditions

Find out more

Loan Accounts

Charges for specific services and accounts.

Find out more

The Detail

Credit criteria, fees and charges apply. Based on Bank of Melbourne's credit criteria, residential lending is not available for Non-Australian Resident borrowers. Before making a decision, please read terms and conditions and ensure you're aware of all fees and charges. 

Residential Loan Agreement – General Terms and Conditions (PDF 239KB)

Loan Accounts – Charges for specific services and accounts (PDF 605KB)

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.

1Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible Bank of Melbourne transaction account. An Advantage Package discount has been included in the advertised eligible rate. The discount and fee savings apply for the duration of the package. Before deciding to acquire a Bank of Melbourne transaction account, read the terms and conditions, and consider if the product is right for you.

*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.

+LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the banks 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. Any applicable LVR discount has been included in the advertised eligible rate.