BOM STANDARD VARIABLE RATE HOME LOAN
BoM Standard Variable Rate Home Loan (Home Loan)
        
With Bank of Melbourne, take out a new Standard Variable Home Loan or new Portfolio Loan of $500,000 or more under Advantage Package and youíll receive a 0.85% p.a. discount off the standard variable rate for the life of your loan. If your new loan is between $250,000 and $499,999, youíll receive a 0.85% p.a. discount off the standard variable rate for the life of your loan. Please make sure that you read all of their terms and conditions in detail before you apply so that you thoroughly understand your obligations.
Location: Australia
Lender/Broker: Variable Loan
Advantages:
Flexibility and great features with a Standard Variable Rate Home Loan!
1. Get a competitive variable interest rate without being locked in for a set term
2. 100% interest offset facility to help you save interest on your home loan
3. Request to redraw funds from your extra payments, when you need it
4. Take out a new Standard Variable Home Loan or new Portfolio Loan of $500,000 or more under Advantage Package and youíll receive a 0.85% p.a. discount off the standard variable rate for the life of your loan.
5. If your new loan is between $250,000 and $499,999, youíll receive a 0.85% p.a. discount off the standard variable rate for the life of your loan.
Disadvantages:
1. Establishment fee - $600 or $0 with Advantage Package
2. Monthly Administration fee $10 or $0 with Advantage Package
Services:
1. Package and save! You could get special interest rate and fee discounts and more with Advantage Package - an all-inclusive home loan, credit card and transaction account package
2. 100% interest offset With Mortgage Equaliser, our interest offset facility, you could save on interest by offsetting the funds in your linked transaction account against the balance of your loan
3. Redraw Get access to the extra payments you make by requesting a redraw1
4. You could save on redraw fees by making your request over the phone or via Internet Banking
5. Family Pledge With Family Pledge you can reduce or even avoid paying Lenderís Mortgage Insurance when a parent or family member guarantees part of your home loan by using his or her own home's equity to provide additional security for a portion of your loan amount.
6. Consider splitting your loan Make part of your loan a fixed rate, and part a variable rate with Flexible Choice
7. See how a part variable rate and part fixed rate loan can work for you
8. Repayment Pause Reduce or pause your repayments for 3 to 12 months when you have a legitimate period of leave from the workforce

APR: 6.70% - 7.40%Loan Amount: Over $1 million
Min Term: Ask on applicationMax Term: Up to 30 years

Secured Loan: YesUnsecured Loan: No

Terms and Conditions:
Offer only applies to the specified new packaged loans and loan amounts applied for before 30 April 2012.
Identification:
Initially name and contact details
Suitable:
Available for property or vacant land purchase, and for building
Restrictions:
In order to be eligible you must be able to provide:
1. Savings history
2. Proof of income
3. Borrowing Purpose
        

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BoM Standard Variable Rate Home Loan
BoM Standard Variable Rate Home Loan