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Bank of Melbourne Home loan reviews

Overall rating
7.1/10
Price
6.9/10
Features
6.7/10
Customer service
7.4/10
Convenience
7.3/10
Trust
7.0/10
Based on 170 reviews as rated by the Mozo community.

Recent Bank of Melbourne home loan reviews

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  • Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR<60%) (Advantage Package) review

    Overall rating   8 / 10
    Great service, easy to find facilities.

    Great service and easy to find facilities.

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    9 / 10
    Convenience
    10 / 10
    Less
    Rebecca, Victoria, reviewed 16 days ago
  • Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   7 / 10
    Overall good service phone, online and in person

    In all the years I have been with bank of Melbourne which before hand was St George all my dealings have been very helpful with no complaints. The online banking website has changed in recent months which seems more complicated. They should never have changed it

    Price
    3 / 10
    Features
    4 / 10
    Customer service
    10 / 10
    Convenience
    8 / 10
    Trust
    5 / 10
    Less
    Michelle, Victoria, reviewed about 1 month ago
  • Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   1 / 10
    Shop around!

    Have held my Home Loans with Bank of Melbourne for the last 6/7 Years. Unfortunately they can be a hit and miss in the Customer Service Department just like playing the Lotto. Recently I called up to see if they could give me a better Home Loan rate or price match a quote I received by NAB and you guess it! No jack pot what so ever. I guess it pays to shop around. In the famous words of GUMPY lifes a box of chocolate you don't know what your gonna get. At this point in time i'll think ill go with the Chocolate Hazelnut NAB instead of the ROCKY ROAD of MOB. Each to there own cheers.

    Price
    2 / 10
    Features
    2 / 10
    Customer service
    1 / 10
    Convenience
    4 / 10
    Trust
    2 / 10
    Less
    Dom, Victoria, reviewed 3 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   1 / 10
    Best avoided

    I refinanced 2 home loans with BOM in Feb 2020. They didn’t settle until June 2020. They asked for the same sets of documentation 5 times. Then asked for additional paperwork not previously mentioned after this. Un-explainable delays & poor communication. Didn’t explain fees or paperwork. Put a substantial amount of money into a redraw facility & the money wasn’t accessible for 1 month. They basically appropriated all my savings & made me write a letter to them to get the savings back. Had to go to AFCA for compensation which was awarded. The cash back offer just isn’t worth the hassle of this bank. Avoid them.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Tom, Queensland, reviewed 4 months ago
  • Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   8 / 10
    Would recommend.

    BOM is a good bank with excellent customer service. Wait times low and my questions have always been answered timely with good financial support. Online banking very good too.

    Price
    6 / 10
    Features
    7 / 10
    Customer service
    9 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Katherine, Victoria, reviewed 4 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   8 / 10
    Great service and supportive staff.

    Bank of Melbourne offers great, personalised service and are responsive to our needs. They are happy to review their interest rates regularly and will price match.

    Price
    8 / 10
    Features
    9 / 10
    Customer service
    9 / 10
    Convenience
    9 / 10
    Trust
    9 / 10
    Less
    William, Victoria, reviewed 5 months ago
  • Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR<60%) (Advantage Package) review

    Overall rating   3 / 10
    Better banks available then Bank of Melbourne

    Always seems to increase their rates higher then other bank. Not a good service.

    Price
    3 / 10
    Features
    4 / 10
    Customer service
    2 / 10
    Convenience
    7 / 10
    Trust
    2 / 10
    Less
    Jeet, Victoria, reviewed 5 months ago
  • Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   10 / 10
    Very personable service.

    Young couple, first home together and the bank has been with us every step of the way. Our local branch (Mikey) is always friendly and knows our needs and account as soon as we walk in.

    Price
    7 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Melissa, Victoria, reviewed 5 months ago
  • Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest, LVR<60%) (Advantage Package) review

    Overall rating   9 / 10
    Good value product and excellent support.

    Good value product, friendly staff, timely follow up on every enquiries updates.

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Kel, Victoria, reviewed 6 months ago
  • Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   0 / 10
    Beware

    Did not follow settlement instructions for our investment property, causing us to gain additional 5 years to our owner occupied mortgage, as we had clear documentation they had to take responsibility. Currently trying to get a fair resolve through ombudsman. Our advice is keep all records, regular screen shots of account and double check they have complied with your instructions, very sneaky and deceitful, all done with a friendly smile. Beware.

    Price
    0 / 10
    Features
    0 / 10
    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    David, Victoria, reviewed 6 months ago
  • Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest, LVR<60%) (Advantage Package) review

    Overall rating   6 / 10
    Needs to be more progressive

    Not many branches. Charge you to deposit cheques at Westpac. Don't have pay full credit card automated online.

    Price
    6 / 10
    Features
    7 / 10
    Customer service
    6 / 10
    Convenience
    3 / 10
    Trust
    6 / 10
    Less
    Clare, Victoria, reviewed 6 months ago
  • Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   6 / 10
    Great customer service & competitive rates if new

    Consistent and professional bank. Have always helped with any customer service enquiry I have. Just wish that they would be more willing to lower interest rates. Several times now I've had to get my broker to help me negotiate a lower interest rate to deter me from re-financing. Online banking experience has been good overall, nowhere near as good as the Big 4 banking apps but not too shabby either.

    Price
    6 / 10
    Features
    6 / 10
    Customer service
    9 / 10
    Convenience
    8 / 10
    Trust
    9 / 10
    Less
    Edwin, Victoria, reviewed 7 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   8 / 10
    Shopfronts with face to face customer service

    Competitive interest rates with good sign on bonuses. Brick and mortar shopfronts with real face to face customer service.

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    9 / 10
    Convenience
    8 / 10
    Trust
    6 / 10
    Less
    Jeremy, Victoria, reviewed 7 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   0 / 10
    Worst bank ever.

    Worst bank ever. Horrible customer service. Avoid.

    Price
    0 / 10
    Features
    0 / 10
    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    Matthew, Victoria, reviewed 8 months ago
  • Bank of Melbourne Portfolio Loan (Advantage Package) review

    Overall rating   7 / 10
    Great opportunity to build financial freedom

    They allowed me the opportunity to build my portfolio but rates are high in the current climate.

    Price
    6 / 10
    Features
    6 / 10
    Customer service
    6 / 10
    Convenience
    6 / 10
    Trust
    6 / 10
    Less
    Jamel, Victoria, reviewed 8 months ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    Home loan comparisons on Mozo - rates updated daily

    • Smart Booster Home Loan

      interest rate
      1.99% p.a.variable for 12 months and then 2.48% p.a. variable
      comparison rate
      2.47% p.a.

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    • Celebrate Variable Home Loan

      interest rate
      2.19% p.a. variable
      comparison rate
      2.19% p.a.

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    • UHomeLoan - Discount Offer

      interest rate
      2.34% p.a. variable
      comparison rate
      2.34% p.a.

      Promoted
    • Special Offer Reward Me Fixed Rate Home Loan

      interest rate
      2.04% p.a.
      fixed 3 years
      comparison rate
      2.73% p.a.

      Promoted
    • Basic Home Loan

      interest rate
      2.09% p.a.
      fixed 2 years
      comparison rate
      2.56% p.a.

      Promoted

    WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

    Want more? Compare all 536 home loans in the Mozo comparison engine.

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