Bendigo Bank Express Home Loans make mortgages easy

One of Australia’s largest and most trusted financial institutions, Bendigo Bank, recently launched Express Home Loans. They’re mortgages made easy - with full approval in as little as an hour.

Bendigo Bank Express Home Loans have won three RateCity Gold Awards in 2022 - Best Large Bank Home Loan, Best Variable Home Loan and Best Variable Home Loan Over $1M. The awards are based on a Real Time Ratings™ system which gives every mortgage product a score out of five, based on cost and flexibility.

Bendigo Bank was also named the most trusted financial institution in Australia by Roy Morgan for the third consecutive quarter in December last year.

“We work hard to make sure every decision we make, every product we create and every service we provide is in the best interests of our customers, shareholders, partners, and people,” Bendigo Bank CEO and Managing Director Marnie Baker said.

“Our vision into 2023 remains to be Australia’s bank of choice, with our longstanding purpose of feeding into the prosperity of our customers and communities, and not off them.”

Since its inception in 1858, Bendigo Bank has been an institution for community endeavours and forward thinking initiatives. They were the first Australian bank to introduce green loans and home loan offset accounts. The bank was also the first lender globally to offer a digital home loan application in partnership with online fintech Tic:Toc.

Why choose Bendigo Bank Express Home Loans when buying property?

Bendigo Bank Express Home Loan rates are attractive and competitive. At the time of writing, their lowest live-in variable principal and interest mortgage rates start at 4.72 per cent (4.87 per cent comparison rate). Bendigo Bank’s interest rates currently rank in the top 20% of RateCity’s database.

Bendigo Bank Express Home Loan can take as little as one hour to receive approval. The application process is entirely digital, making it streamlined and convenient. Your application is assessed in real-time.

Once approved, your home loan contract and settlement pack will be emailed to you, outlining further instructions.

When it comes to repayments you can opt for interest-only repayments or principal and interest repayments. You’ll also have the ability to make extra repayments and redraw funds if necessary.

You’ll need to pay an establishment fee of $250 when your Bendigo Express Home Loan settles. External fees such as valuations, disbursements and statutory government charges (ie stamp duty) may also apply. While many lenders may charge borrowers an annual package fee of up to $400, Bendigo Bank Express Home Loans only incur a $10 monthly service fee.

How to apply for an Express Home Loan

Applying for an Express Home Loan is simple. Prepare the information you’ll need such as identification, your prospective property address, the amount you want to borrow, plus income and expense details.

An automated valuation will be conducted on the home you intend to buy. You’ll then determine how often you want to make repayments - options are flexible. You may also choose to include an offset account, which are available for both fixed and variable loans.

Express Home Loans with an offset account offer the flexibility of a transaction account without any additional fees. There’s no minimum balance and you can apply for multiple offset accounts to help manage your funds.

Bendigo Bank will offer an Express Home Loan that suits your needs. Once you’re satisfied, and having met all the relevant eligibility criteria, your information will be processed and your loan approved electronically.

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