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Bank of Melbourne Home loan reviews

Overall rating
7.0/10
Price
6.9/10
Features
6.7/10
Customer service
7.2/10
Convenience
7.3/10
Trust
6.9/10
Based on 180 reviews as rated by the Mozo community.

Recent Bank of Melbourne home loan reviews

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  • Bank of Melbourne Home Loan review

    Overall rating   1 / 10
    Not sure if I would recommend BOM

    Terrible customer service. Have been waiting 5 months for my loan application to go through and when I call I am told its approved and will take a week and am being told this info every week for 5 months now. This has been ongoing since January and still no service and no answers. You call the branch and mortgage number and no one can tell me anything and they cannot locate me as a customer

    Price
    6 / 10
    Customer service
    1 / 10
    Trust
    1 / 10
    Less
    Sophie, Victoria, reviewed about 1 month ago
  • Bank of Melbourne Standard Variable Home Loan (Owner Occupier, Principal & Interest, LVR<60%) review

    Overall rating   1 / 10
    Worst bank with worst customer service.

    Don’t even think to go with bank of Melbourne. They have the worst customer service and I cannot think of anything worse than BOM. I am trying to settle my loan but they are dragging it over a month now and no one can give me an update, they just don’t care about their customer needs at all. If you are going with BOM be ready to call them twice a day and the waiting time to get the line is more than 30 minutes and you will never get a solution.

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

    Overall rating   1 / 10
    Slow and stupid bank.

    It take ages for this bank to get an approval, employees need more motivation. Avoid this bank when getting a home loan very slow and idiots.

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

    Overall rating   1 / 10
    Don't do it with BOM

    For 6 months BOM have keep us hanging waiting for approval for a loan. We have jumped through every single hoop and they are still to give an answer. Withdrawing the application and going elsewhere.

    Customer service
    1 / 10
    Convenience
    4 / 10
    Trust
    1 / 10
    Less
    Kris, Victoria, reviewed 3 months ago
  • Bank of Melbourne Portfolio Loan review

    Overall rating   5 / 10
    Very disappointed due to the situation

    I wanted to increase our loan by $20,000 but was rejected because I was made redundant, even though our house was valued at $950,000.

    Price
    6 / 10
    Features
    6 / 10
    Customer service
    2 / 10
    Convenience
    7 / 10
    Trust
    5 / 10
    Less
    Vicki, Victoria, reviewed 5 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   10 / 10
    Fantastic.

    We are changing banks to Bank of Melbourne. Their interest rate is very competitive and our loans officer is so helpful.

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

    Overall rating   9 / 10
    Fast approval great rate and service

    We had multiple applications and Bank Of Melbourne came through with the fastest approval and the best rate.

    Price
    8 / 10
    Features
    9 / 10
    Customer service
    8 / 10
    Convenience
    9 / 10
    Trust
    9 / 10
    Less
    Emma, Victoria, reviewed 5 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   10 / 10
    Best bank.

    Love this bank. I got a mortgage with just one pay slip and at a very competitive rate. So easy to talk to.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Brendan, Victoria, reviewed 5 months ago
  • Bank of Melbourne Home Loan review

    Overall rating   7 / 10
    Helpful and friendly bank.

    Pro: I have no issues with the customer services of this bank. They are responsive, friendly and very helpful. Con: When I tried to get my house evaluated, I was given a price that I thought was undervalued. I went through the process of appealing the price but was responded to in an email that said the price was set. I was not told what the process was for this appeal. I did not think the process was transparent, and hence less trustworthy.

    Price
    8 / 10
    Features
    7 / 10
    Customer service
    9 / 10
    Convenience
    7 / 10
    Trust
    8 / 10
    Less
    Anthony, South Australia, reviewed 5 months ago
  • Bank of Melbourne Fixed Home Loan (Owner Occupier, Principal & Interest, LVR<60%) (Advantage Package) review

    Overall rating   7 / 10
    Need to look after customers interests

    Wont let us get out of a fixed term loan.

    Price
    7 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Donna, Victoria, reviewed 6 months ago
  • 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 7 months 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 8 months 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 10 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 10 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 10 months ago
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    Home loan comparisons on Mozo - rates updated daily

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      interest rate
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    • Basic Home Loan

      interest rate
      2.09% p.a.
      fixed 3 years
      comparison rate
      2.32% p.a.

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    • Variable Home Loan Special

      interest rate
      1.99% p.a. variable
      comparison rate
      2.02% p.a.

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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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