Products & features
Here you'll find answers to questions about features on our home loans and finding the loan that's right for you. If you want to talk to a Bank of Melbourne home loan expert, call us on 13 22 66.
- My parents/family would like to help me buy a home. How does this work?
- How does Full interest offset (Mortgage Equaliser Offset & Repayment Offset) work?
- If I have a variable interest rate loan and I think interest rates are going to rise, can I switch to a fixed rate?
- Can I apply for a home loan in a company name or family trust?
- Can I keep my day-to-day transactions separate from my investments with a Portfolio Loan?
- What's the difference between ‘principal and interest' repayments and ‘interest only' repayments?
- What's the difference between a line of credit and a standard home loan?
- Can I use a Portfolio Loan for my business?
- How does a Portfolio Loan differ from a normal overdraft?
- Can I use a Bank of Melbourne home loan to build my home?
- How can I make a home loan repayment?
- How often do I make a loan repayment?
- Can I repay my loan early?
- Will I need Lender's Mortgage Insurance and what does this cover?
- Does Bank of Melbourne have building and contents insurance?
- How do I know which loan best suits my needs?
- What is ‘rate lock'?
- What's the difference between a variable rate loan and a fixed rate loan?
- Can I split my home loan to take out both a fixed and variable rate home loan?
- What is Interest in Advance?
- Who can have Interest in Advance?
- What is the difference between Mortgage Equaliser Offset and Repayment Offset?
- How does Partial Interest Offset work?
The Detail
Bank of Melbourne, a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 issues the products on this website. The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, 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. Refer to bankofmelbourne.com.au/homeloans or call us for more information on current offers available.
### Excludes loan applications for owner occupier purposes (where the owner owns the property in which they live or intend to live in). Includes 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. Refer to bankofmelbourne.com.au/homeloans or call us for more information on current offers available.
#### Excludes Line of Credit loans, Owner Occupied loans, Variable rate loans, and loans with principal and interest repayments.
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.
1A sub-account holder must be one of more of the Portfolio Loan borrowers. The remaining borrowers on the Portfolio Loan must be guarantors on that sub-account. Any Portfolio Loan borrower who is not a sub account holder of a particular sub-account must guarantee that sub-account.
2Subject to systems availability
3Before deciding to acquire a deposit product, please read the relevant Product Disclosure Statement which is available from our branches or from our website.
4Requests are subject to our approval. Fees apply.
5An interest in advance discount will apply only if the interest in advance amount is automatically deducted from a Bank of Melbourne transaction account. Interest must be paid in advance for each chosen fixed rate term to receive the interest in advance discount. If after the Interest in Advance period expires and no subsequent interest in advance payments are arranged, the interest in advance discount will be removed.