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Bank of Melbourne home loan reviews

Bank of Melbourne
Bank of Melbourne's overall rating for home loans

(as rated by the Mozo community)

7.2 / 10

based on 143 reviews

Price

Features

Customer service

Convenience

Trust

Featured home loan from Bank of Melbourne

Recent Bank of Melbourne home loan reviews

Bank of Melbourne

Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest, LVR 80-95%) (Advantage Package) Variable Home Loan (Advantage Package) review

Overall rating   9 / 10

Good premiums and great customer service

Dealing with Commonwealth Bank felt like a breath of fresh air in comparison to other banks. They are constantly in contact to ensure that we are getting the best deals and are happy.

Full review

Dealing with Commonwealth Bank felt like a breath of fresh air in comparison to other banks. They are constantly in contact to ensure that we are getting the best deals and are happy.

    Price   10 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

David, Victoria, reviewed 9 months ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<80%) Basic Home Loan review

Overall rating   7 / 10

Good but would like more communication

The service is good but I would like better communication when with regards to interest rates.

Full review

The service is good but I would like better communication when with regards to interest rates.

    Price   8 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   9 / 10

    Trust   7 / 10

Less

Nicole, Victoria, reviewed 10 months ago

Bank of Melbourne

Bank of Melbourne Home Loan review

Overall rating   6 / 10

Trust worthy

Their service is great and they talk us into the right direction

Full review

Their service is great and they talk us into the right direction

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Matelita, Victoria, reviewed almost 3 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR 80-95%) (Advantage Package) Fixed Home Loan (Advantage Package) review

Overall rating   8 / 10

Excellent service and welcoming

Very professional and friendly staff. Happy to explain in common terms the confusing world of banking

Full review

Very professional and friendly staff. Happy to explain in common terms the confusing world of banking

    Price   5 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   7 / 10

Less

Adele, Victoria, reviewed over 3 years ago

Bank of Melbourne

Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest, LVR 80-95%) (Advantage Package) Variable Home Loan (Advantage Package) review

Overall rating   7 / 10

Not happy at all

Terrible customer service lender

Full review

Terrible customer service lender

    Price   3 / 10

    Features   6 / 10

    Customer service   4 / 10

    Convenience   9 / 10

    Trust   6 / 10

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Dipsikha, Victoria, reviewed over 3 years ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<80%) Basic Home Loan review

Overall rating   2 / 10

Bad Credit Assessment Team

Bank of Melbourne is good in product and pricing. However, their Credit Assessment is absolutely substandard. They don't have people who can do the assessment within a time frame and provide a solution. They keep recruiting new and they don't know...

Full review

Bank of Melbourne is good in product and pricing. However, their Credit Assessment is absolutely substandard. They don't have people who can do the assessment within a time frame and provide a solution. They keep recruiting new and they don't know what they do.

    Price   7 / 10

    Features   7 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Andrew, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest, LVR<80%) Standard Variable Home Loan review

Overall rating   9 / 10

Great

Great, open till 5 pm weekdays

Full review

Great, open till 5 pm weekdays

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Debra, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<80%) Basic Home Loan review

Overall rating   5 / 10

Convenient

Close to home is good. Too many fees is bad

Full review

Close to home is good. Too many fees is bad

    Price   5 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   7 / 10

    Trust   4 / 10

Less

Rusty, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Portfolio Loan (Advantage Package) Portfolio Loan (Advantage Package) review

Overall rating   9 / 10

Great rates and friendly customer service

BoM is friendly and there are a lot of branches around. Internet banking is easy too.

Full review

BoM is friendly and there are a lot of branches around. Internet banking is easy too.

    Price   8 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Audrey, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest, LVR<80%) Standard Variable Home Loan review

Overall rating   6 / 10

Flexible home loans and great customer service

The Bank Of Melbourne offered a home loan with less than 10% deposit so gave me a chance to get my foot into the property market. However the rates are on the higher end of home loans available. They also waved the first years credit card fees....

Full review

The Bank Of Melbourne offered a home loan with less than 10% deposit so gave me a chance to get my foot into the property market. However the rates are on the higher end of home loans available. They also waved the first years credit card fees. Customer service is good to, answer and return calls promptly and follow up frequently.

    Price   6 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Debbie, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest, LVR<80%) Standard Variable Home Loan review

Overall rating   9 / 10

Great products and services.

Really like the rates, they are competitive within the industry, however, what sets them apart is the customer service they provide. In our experience they have gone above and beyond to make sure we have been taken care of the entire time we have...

Full review

Really like the rates, they are competitive within the industry, however, what sets them apart is the customer service they provide. In our experience they have gone above and beyond to make sure we have been taken care of the entire time we have been with them. One thing that is hard is the number of branches in the suburbs is limited and I find we have to drive a distance if we want to meet face to face.

    Price   8 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   6 / 10

    Trust   10 / 10

Less

Micah, Victoria, reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest, LVR<80%) Standard Variable Home Loan review

Overall rating   10 / 10

Above and beyond, always better!

I am a single mum and the Bank of Melbourne bent over backwards to help me succeed in purchasing my first home :)

Full review

I am a single mum and the Bank of Melbourne bent over backwards to help me succeed in purchasing my first home :)

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Karli, Victoria, reviewed about 4 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR 80-95%) (Advantage Package) Fixed Home Loan (Advantage Package) review

Overall rating   10 / 10

Home loan

Great home loan package. With competitive interest rate.

Full review

Great home loan package. With competitive interest rate.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Kuljit, Victoria, reviewed about 4 years ago

Bank of Melbourne

Bank of Melbourne Portfolio Loan Portfolio Loan review

Overall rating   8 / 10

Good

Good

    Price   8 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Stewart, Victoria, reviewed about 4 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR 80-95%) (Advantage Package) Fixed Home Loan (Advantage Package) review

Overall rating   10 / 10

Great Local Bank

Great bank, love their service, competitive products, love the online banking and convenient locations.

Full review

Great bank, love their service, competitive products, love the online banking and convenient locations.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Lochlan, Victoria, reviewed about 4 years 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

  • loans.com.au Smart Home Loan (Owner Occupier, Principal & Interest)

    loans.com.au Smart Home Loan (Owner Occupier, Principal & Interest)

    • For purchase and refinance, min 20% deposit
    • No application or ongoing fees
    • Unlimited redraws and additional repayments

    interest rate

    2.88% p.a. variable

    comparison rate*

    2.90% p.a.

    upfront fees

    $520

    Go to site

    More info

    • For purchase and refinance, min 20% deposit
    • No application or ongoing fees
    • Unlimited redraws and additional repayments
    • Interest rate: 2.88% p.a. variable
    • Comparison rate*: 2.90% p.a.
    • Upfront fees: $520
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $1,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    • Special offers:
    Overall rating

    8.2

    Based on 637 loans.com.au home loan reviews

    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2019

    UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    • $0 application fee for variable rate, $0 ongoing fees, $0 annual fees
    • No monthly fees
    • 20% minimum deposit required. Minimum loan amount $700k

    interest rate

    2.84% p.a. variableApply now to get this rate from 29 Oct

    comparison rate*

    2.84% p.a.Apply now to get this rate from 29 Oct

    upfront fees

    $0

    Go to site

    More info

    • $0 application fee for variable rate, $0 ongoing fees, $0 annual fees
    • No monthly fees
    • 20% minimum deposit required. Minimum loan amount $700k
    • Interest rate: 2.84% p.a. variableApply now to get this rate from 29 Oct
    • Comparison rate*: 2.84% p.a.Apply now to get this rate from 29 Oct
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $200,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    • Special offers:
    Overall rating

    5.2

    Based on 111 UBank home loan reviews

    Need more information?
    Go to site

    More info

  • Athena Variable Home Loan (Owner Occupier, Principal & Interest)

    Athena Variable Home Loan (Owner Occupier, Principal & Interest)

    • No application fees
    • No monthly fees
    • No annual fees

    interest rate

    2.84% p.a. variable

    comparison rate*

    2.80% p.a.

    upfront fees

    $0

    Go to site

    More info

    • No application fees
    • No monthly fees
    • No annual fees
    • Interest rate: 2.84% p.a. variable
    • Comparison rate*: 2.80% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $100,000
    • Maximum loan amount: $2,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    • Special offers:
    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2019

    HSBC Discounted Home Value Loan (Owner Occupier, Principal & Interest)

    HSBC Discounted Home Value Loan (Owner Occupier, Principal & Interest)

    • Owner occupier only
    • Available on new borrowings from $50,000
    • Your own Personal Relationship Manager

    interest rate

    3.02% p.a. variableApply now to get this rate from 21 Oct

    comparison rate*

    3.04% p.a.Apply now to get this rate from 21 Oct

    upfront fees

    $150

    Go to site

    More info

    • Owner occupier only
    • Available on new borrowings from $50,000
    • Your own Personal Relationship Manager
    • Interest rate: 3.02% p.a. variableApply now to get this rate from 21 Oct
    • Comparison rate*: 3.04% p.a.Apply now to get this rate from 21 Oct
    • Upfront fees: $150
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free online
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $7,500,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    • Special offers:
    Overall rating

    7.0

    Based on 110 HSBC home loan reviews

    Need more information?
    Go to site

    More info

  • Suncorp Fixed Home Loan Special Offer (Owner Occupier, Principal & Interest) (Home Package Plus)

    Suncorp Fixed Home Loan Special Offer (Owner Occupier, Principal & Interest) (Home Package Plus)

    • No monthly account keeping fee.
    • No loan establishment fee.
    • Option to lock in a rate at the time of the application.

    interest rate

    2.99% p.a.
    fixed 3 years

    comparison rate*

    3.73% p.a.

    upfront fees

    $0

    Go to site

    More info

    • No monthly account keeping fee.
    • No loan establishment fee.
    • Option to lock in a rate at the time of the application.
    • Interest rate: 2.99% p.a.
      fixed 3 years
    • Comparison rate*: 3.73% p.a.
    • Upfront fees: $0
    • Ongoing fees: $375.00 yearly
    • Discharge fee: $350.00
    • Extra repayments: yes - free up to $500 per month
    • Redraw facility: no
    • Offset account: no
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Fixed
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    • Special offers: Receive $2,000 when you refinance an existing loan of $250,000 or more with an LVR of <90%. Apply by 13 December 2019 and settle by 5 March 2020.
    Overall rating

    7.3

    Based on 862 Suncorp home loan reviews

    Need more information?
    Go to site

    More info

*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 533 home loans in the Mozo comparison engine.

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*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.

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