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 87 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 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

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Matelita (VIC), reviewed about 1 year ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan 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

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Adele (VIC), reviewed over 1 year ago

Bank of Melbourne

Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan 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 (VIC), reviewed almost 2 years ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) 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

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Andrew (VIC), reviewed almost 2 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest) 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

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Debra (VIC), reviewed almost 2 years ago

Bank of Melbourne

Bank of Melbourne Portfolio Loan (Advantage Package) home loan 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

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Audrey (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest) 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

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Debbie (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest) 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

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Micah (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest) 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

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Karli (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan 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

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Kuljit (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan 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

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Lochlan (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   3 / 10

Worst customer service, not efficient. Delays.

1st Lender manager mentioned an amount in pre-approval is never given to me. Before land settlement 1st lender manager left BOM and no one knows about my file and that delayed my settlement by 1 week. Land settlement done by 2nd lender manager....

Full review

1st Lender manager mentioned an amount in pre-approval is never given to me. Before land settlement 1st lender manager left BOM and no one knows about my file and that delayed my settlement by 1 week. Land settlement done by 2nd lender manager. After land settlement again my lender manager changed. I have to resubmit all documents again to my 3rd new Lender manager . Also this time my branch changed due to lender manager is from that branch. I have to explain once again everything to 3rd lender manager. But this time 3rd lender Manager reduced my borrowing capacity by 30K. And when I submitted my house construction contract for final approval they took more than 2 weeks to give me result if it is approved or not.

    Price   6 / 10

    Features   7 / 10

    Customer service   3 / 10

    Convenience   3 / 10

    Trust   3 / 10

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Abc (VIC), reviewed about 2 years ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   5 / 10

Internet banking not easy

Internet banking not user friendly.

Full review

Internet banking not user friendly.

    Price   6 / 10

    Features   6 / 10

    Customer service   4 / 10

    Convenience   4 / 10

    Trust   5 / 10

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Philip (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   8 / 10

Consistently good

Have been with St George for over a decade. So long as they aren't trying to force credit cards on you they're a fantastic bank.

Full review

Have been with St George for over a decade. So long as they aren't trying to force credit cards on you they're a fantastic bank.

    Price   7 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Nathan (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne home loan review

Overall rating   3 / 10

Poor service, no follow ups; not recommended

Terrible bank. We built a house and had a home loan for our land, we then took out a second loan for the building of the house. The payment amount was never given to us correctly causing us to pay the wrong amount on the loan, in return giving us...

Full review

Terrible bank. We built a house and had a home loan for our land, we then took out a second loan for the building of the house. The payment amount was never given to us correctly causing us to pay the wrong amount on the loan, in return giving us a bad rating with the bank. We were also told once completed that we could consolidate both loans; this was another lie as we were told we would have to refinance our property at a cost to us of $1000 .

    Price   7 / 10

    Features   4 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   1 / 10

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John (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne home loan review

Overall rating   9 / 10

Competitive pricing and great personal service.

This bank made it easy for us to do the deal to purchase our home by quickly reviewing our application and approving the loan.

Full review

This bank made it easy for us to do the deal to purchase our home by quickly reviewing our application and approving the loan.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Howard (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan review

Overall rating   6 / 10

Some of the best rates and friendly service

The bank was quick to organise an advantage package and offer a reasonable discount . Being a smaller bank , the customer service is not impersonal and things can get done easily . The products might not have all the bells and whistles but are...

Full review

The bank was quick to organise an advantage package and offer a reasonable discount . Being a smaller bank , the customer service is not impersonal and things can get done easily . The products might not have all the bells and whistles but are very competitive.

    Price   8 / 10

    Features   5 / 10

    Customer service   9 / 10

    Convenience   5 / 10

    Trust   6 / 10

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Arup (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne home loan review

Overall rating   6 / 10

Nice people but they ignore new information

The bank has ignored my in person and telephone updates for my home loan. They have carried on with the wrong information.

Full review

The bank has ignored my in person and telephone updates for my home loan. They have carried on with the wrong information.

    Price   2 / 10

    Features   2 / 10

    Customer service   6 / 10

    Convenience   7 / 10

    Trust   6 / 10

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Geraldine (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Variable Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan review

Overall rating   9 / 10

Easily the most comfortable face to face customer

I found Bank of Melbourne to be amazingly beneficial in its appraisal, approach and professionalism when I dealt with my home loan. Easy stress free and now very rewarding.

Full review

I found Bank of Melbourne to be amazingly beneficial in its appraisal, approach and professionalism when I dealt with my home loan. Easy stress free and now very rewarding.

    Price   7 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   9 / 10

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Donny (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan review

Overall rating   9 / 10

Great bank & most give good customer service.

Convenient banking especially on iphone. Always check your figures and that you are getting the right deal.

Full review

Convenient banking especially on iphone. Always check your figures and that you are getting the right deal.

    Price   -1 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Veronica (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan review

Overall rating   8 / 10

Competitive and good customer service

Very approachable and willing to assist with any queries at any time.

Full review

Very approachable and willing to assist with any queries at any time.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Julieanne (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest) (Advantage Package) home loan review

Overall rating   10 / 10

Easy,competitive and reliable home loan

Fabulous customer service that gave me a great deal of trust in what I was being told. The rate was also the lowest I could find at the time. I liked the ambiance of the bank too. They made it easy.

Full review

Fabulous customer service that gave me a great deal of trust in what I was being told. The rate was also the lowest I could find at the time. I liked the ambiance of the bank too. They made it easy.

    Price   10 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Liz (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

Competitive premiums and great customer service

Great rates, great to deal with, friendly and knowledgeable staff.........

Full review

Great rates, great to deal with, friendly and knowledgeable staff.........

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Richard (VIC), reviewed over 2 years ago

Bank of Melbourne

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

Overall rating   10 / 10

Great Customer Service, very flexible

Bank of Melbourne staff are very helpful, respectful and a delight to deal with. We are happy with our loans and the rates that we are getting.

Full review

Bank of Melbourne staff are very helpful, respectful and a delight to deal with. We are happy with our loans and the rates that we are getting.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Jennie (VIC), reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

Happy with the performance of this bank

They are a very good bank and have had no problems with them. They keep their customers up to date and treat them as an individual customer and not just another number .

Full review

They are a very good bank and have had no problems with them. They keep their customers up to date and treat them as an individual customer and not just another number .

    Price   7 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Katherine (VIC), reviewed over 2 years ago

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Home loan comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2016

    loans.com.au Essentials Variable 80 Homebuyer Special (Owner Occupier, Principal & Interest)

    loans.com.au Essentials Variable 80 Homebuyer Special (Owner Occupier, Principal & Interest)

    • A super-low rate available to purchases and 20% minimum deposit required
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product

    interest rate

    3.54% p.a. variable

    comparison rate*

    3.56% p.a.

    upfront fees

    $520

    Go to site

    More info

    • A super-low rate available to purchases and 20% minimum deposit required
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product
    • Interest rate: 3.54% p.a. variable
    • Comparison rate*: 3.56% 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
    Overall rating

    7.2

    Based on 202 loans.com.au home loan reviews

    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    Featured product

     

    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

    interest rate

    3.62% p.a. variable

    comparison rate*

    3.62% p.a.

    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
    • Interest rate: 3.62% p.a. variable
    • Comparison rate*: 3.62% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $700,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    4.8

    Based on 56 UBank home loan reviews

    Need more information?
    Go to site

    More info

  • State Custodians Low Rate Home Loan with Offset (LVR<80%, Owner Occupier, Principal & Interest)

    State Custodians Low Rate Home Loan with Offset (LVR<80%, Owner Occupier, Principal & Interest)

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account

    interest rate

    3.64% p.a. variable

    comparison rate*

    3.67% p.a.

    upfront fees

    $286

    Go to site

    More info

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account
    • Interest rate: 3.64% p.a. variable
    • Comparison rate*: 3.67% p.a.
    • Upfront fees: $286
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • 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
    Overall rating

    8.7

    Based on 3 State Custodians home loan reviews

    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    Newcastle Permanent Discounted Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package)

    Newcastle Permanent Discounted Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package)

    • 100% Offset Facility
    • $0 application fee for Personal and Car Loans
    • Additional repayments and redraws at any time

    interest rate

    3.64% p.a. variable

    comparison rate*

    4.03% p.a.

    upfront fees

    $0

    Go to site

    More info

    • 100% Offset Facility
    • $0 application fee for Personal and Car Loans
    • Additional repayments and redraws at any time
    • Interest rate: 3.64% p.a. variable
    • Comparison rate*: 4.03% p.a.
    • Upfront fees: $0
    • Ongoing fees: $395.00 yearly
    • Discharge fee:
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.5

    Based on 80 Newcastle Permanent home loan reviews

    Need more information?
    Go to site

    More info

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

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

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager

    interest rate

    3.65% p.a. variable

    comparison rate*

    3.66% p.a.

    upfront fees

    $0

    Go to site

    More info

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager
    • Interest rate: 3.65% p.a. variable
    • Comparison rate*: 3.66% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 90.00%
    • 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
    Overall rating

    7.1

    Based on 32 HSBC home loan reviews

    Need more information?
    Go to site

    More info

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*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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