Buying your next home
Buying before you sell
If you're thinking of searching for a new home, you may want a flexible finance option so you could buy a new home before selling your existing property With a relocation loan, you'll have 6 months to sell your current property1.
Thinking about an investment property
You may be able to use the equity in your current home to help you buy an investment property. Using equity will not be suitable for everyone, and it is important to understand both the risks and benefits before deciding on this option.
An investment loan can be used where your property securing the loan will be used to derive rental income or where the loan purpose is to invest in real estate. You have the option to select a fixed rate or standard variable rate, and you could also take up an Advantage package.
Calculate your borrowing power
You can use home loan calculators to see how much you could borrow and what the loan repayments could be. To help, you might like to check our home loan comparison table which compares some of our key products.
There are also other options which may help increase your borrowing potential, such as Family Pledge. Find out how this may help you get into your next home sooner.
Reviewing your options
Our Home Loans specialists can help you review your home loan and make sure it's right for you. For instance, have you considered an offset account, or an Advantage package that links an eligible home loan and transaction account together?
You do not need to know the loan type when you apply, our Home Loan specialists will help with this too. Our specialists can even review your current home loan to make sure the features are right for your changing needs.
Start your journey online
Find out your buying power so you could start house hunting with confidence.
We’ll give you our lowest rate upfront, personalised to your buying scenario.
If you’ve found the perfect property (or you’re refinancing), we will complete a real-time bank valuation.
You can live chat with us to help you complete the application 7 days a week (even outside of business hours).
Featured home loans
A loan option if you buy a new home before selling your existing one1
You can pay the deposit on your new place, then borrow the balance at settlement - plus additional expenses like stamp duty and moving costs
Advantage Package2 could offer you discounts for the life of your loan
Receive a discount on your eligible home loan interest rate and nil transaction fees on your linked Complete Freedom account (Annual fee of $3952 applies)
Advantage Package also offers access to discounts available when you take up selected credit cards, insurance and wealth products2
Credit criteria, fees and charges apply. Before making a decision, it’s best to read the terms and conditions:
- Portfolio Loan Agreement - General Terms and Conditions
- Residential Loan Agreement - General Terms and Conditions
- Loan Accounts - Charges for specific services and accounts
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. If you need help, call 13 33 30.
The information on this page has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice. The taxation position described is a general statement and should be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Bank of Melbourne - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714
1.Building must be completed within 6 months of the date of the first advance under Relocation Loan. The sale of the existing property must be settled on or before 6 months after the date of the final progress payment – a total maximum relocation period of 12 months.
2. Advantage Package Conditions of Use and Terms and Conditions apply and are available at bankofmelbourne.com.au. Annual fee, currently $395, applies. Discounts on products apply at time of application when you tell us you’re an Advantage Package customer.
Credit criteria, fees and charges apply. Property valuation: valuation is valid for 90 days. Your upfront bank valuation assessment may require further valuation assessment if your property does not fit lending guidelines. Personalised rate: variable interest rates are subject to change, the rate discount is valid for 14 days. For fixed rates, discounts are valid for 5 days. Support and live chat: dedicated teams are here to help you 7 days a week. Available 8am-10pm Mon-Fri and 9am-5pm Sat-Sun. St.George - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.