Home loans Melbourne.
Melbourne lending is shaped by Victoria\'s stamp duty regime, off-the-plan concessions, and a much larger self-employed borrower base than Sydney. The right loan structure absorbs the costs without LMI. The wrong one leaves cash on the table at settlement. 30+ lenders, no fee.
Four reasons Melbourne finance needs VIC expertise.
National broker advice misses the Victorian-specific levers. Get them wrong and you pay duty you didn\'t need to.
Victorian stamp duty leads the country
VIC stamp duty on a $1M Melbourne purchase runs around $55K, jumping to $110K+ at $2M. The right loan structure can absorb part of these costs without LMI, but only if the deposit + LVR is engineered correctly from the start. Generic broker advice that ignores stamp duty timing leaves you exposed at settlement.
Off-the-plan concessions are real money
Victoria still offers stamp duty concessions on eligible off-the-plan apartments and townhouses (up to 100 percent reduction for first-home buyers under specific price caps). Sounds great, but most lenders are cautious about off-the-plan valuations at settlement. We model both the concession AND the valuation risk before any contract.
Self-employed Melbourne files need lender placement
Melbourne has a large concentration of small business owners, contractors and trades. Mainstream lender policy varies widely on ABN income evidence: some accept 1 year of returns, some require 2, some accept BAS-only. Lender placement matters more than rate shopping for self-employed Melbourne files.
Foreign buyer surcharge is 8 percent here
Victoria charges 8 percent additional stamp duty for foreign buyers + an annual absentee owner surcharge. For Australian residents, none of this applies, but the trust structure or company ownership can accidentally trigger it. We confirm structure before submission.
From call to settlement, four phases.
Position + Melbourne capacity
Income, debts, savings, equity, Melbourne purchase target. You leave the call with a borrowing range from 3 to 5 lender profiles, not just your current bank.
Lender selection
File matched to the lender most likely to approve at the sharpest rate for your specific situation. Submitted once.
Pre-approval
Issued in 5 to 10 business days for clean files. You shop Melbourne with conviction.
Settlement
Formal approval, valuation, conveyancing, settlement. Loan structured (split, offset, redraw) for the next purchase.
Which scenario fits your situation?
Five common Melbourne loan scenarios we structure for buyers and investors.
First Melbourne investment
For investors with $200K+ deposit. We target 80 percent LVR to avoid LMI, structure offset against PPR debt, model VIC stamp duty into upfront cash requirement. Typical Melbourne investment entry: $700K to $1.2M depending on tier.
Refinance + cash-out
Common after 3 to 5 years of Melbourne growth. We assess equity, re-price existing loans (often saving 30 to 60 basis points), structure cash-out for next deposit without triggering LMI on retained properties.
Auction finance
Melbourne auction stock requires formal approval, not just pre-approval, before bidding. We coordinate lender, valuation and approval timing to clear in time. Most lenders need 7 to 10 business days for the property-specific approval after pre-approval is in place.
Construction loan
Melbourne construction (knockdown-rebuild or new-build duplex) needs progress-draw structuring, contingency, and at-completion valuation. Pairs with our Homepay deferred-repayment structure when suitable.
SMSF LRBA
Melbourne SMSF property requires a Limited Recourse Borrowing Arrangement. 8 to 12 lenders active in this space, lower LVRs (65 to 80 percent residential), bare trust setup pre-settlement. Coordinated with our SMSF lending team.
Loan policy + Melbourne stamp duty referenced from current lender policy guides and Victorian State Revenue Office tables.
What Melbourne borrowers ask us most.
How is Melbourne home loan policy different from Sydney?
Three differences: (1) Victorian stamp duty is higher than NSW above $1M, (2) Victoria offers off-the-plan concessions that NSW does not, (3) auction-day mechanics are slightly more vendor-conservative in Melbourne (more pass-ins). Loan structure and timing differ accordingly.
Can I get a Melbourne pre-approval before an auction?
Yes, clean PAYG files typically have pre-approval in 5 to 10 business days. For auction-day, you need formal (not just pre-) approval on the specific property, which adds the valuation step. Most clients allow 2 to 3 weeks between pre-approval and auction day.
How much deposit do I need for Melbourne?
For investment, 20 percent of price + VIC stamp duty + costs avoids LMI. On a $900K Melbourne investment, that's typically $230K to $260K cash. With 10 to 15 percent deposit you can still proceed paying LMI ($12K to $25K typical). For first-home owner-occupier, federal Home Guarantee scheme can drop the deposit to 5 percent on eligible purchases under the regional price cap.
Do you charge a fee?
No. Mortgage brokers are paid commission by the lender that funds your loan, never by you. We disclose every lender's commission in writing.
I'm self-employed in Melbourne. What's realistic?
Very realistic. Specific lenders accept 1 year of full tax returns, 2 years standard, BAS-based income (low-doc), or contractor rates with consistent invoicing. The wrong lender will decline outright. We match your file to the right lender first time.
What about the Victorian off-the-plan concession?
It's real but conditional. For first-home buyers buying eligible off-the-plan stock under the price cap, stamp duty can be reduced to near zero. The trap: many off-the-plan Melbourne apartments fail at-valuation on completion, creating settlement risk. We model the concession savings AGAINST the valuation risk before recommending off-the-plan.
Can you refinance my existing Melbourne loan?
Yes — should review it. Most Melbourne loans sit 30 to 70 basis points above market because no one called your bank. We re-price first (often successful, free), then refinance if not matched. Process typically 4 to 6 weeks.
Will you help with SMSF lending in Melbourne?
Yes — our SMSF lending team handles the LRBA structure, bare trust, lender placement and settlement coordination for Melbourne SMSF property.
Pair finance with acquisition.
Get the right Melbourne loan, not the easy one.
Book a 15-minute Melbourne finance call. We will review your position across the lender panel.