Pool Finance in Melbourne Review

Break Free Melbourne Home Loans are a best mortgage broker, with over 20 years of industry experience. We provide lending solutions and advice tailored to your needs. We work closely with clients as trusted advisors and are accessible to clients when needed.

Our brokers work hard at understanding our client’s unique circumstances and helping them overcome common home loan challenges. Whether you’re a first home buyer or an experienced investor, we’ll help you find the best home loan for your situation. Whether you’re self-employed and have trouble proving your income or you’re a contractor or casual worker, we offer solutions for all types of clients’ income sources.

When considering a swimming pool loan, it’s important to compare loan options and find a loan that fits your budget and financial needs. Swimming pool loans are available from banks, credit unions, and online lenders. Break Free Home and Motobike Loans work with a wide range of pool finance Melbourne lenders. Our brokers can help you choose the best swimming pool loan from the right lender to suit your financial goals.

What Are Swimming Pool Loans?

A swimming pool loan is a type of personal loan that can be used to finance the purchase of a pool. Swimming pool loans typically have fixed interest rates and repayment terms, making them a good option for borrowers who want predictable monthly payments.

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How To Apply For A Pool Finance In Melbourne

To qualify for a swimming pool loan, you will typically need good to excellent credit. Borrowers with strong credit profiles will usually qualify for the best interest rates and terms. Borrowers with lower credit scores may be able to qualify for a pool loan, but they will likely pay a higher interest rate.

When applying for a pool loan, you will need to provide documentation of your income and assets. This is to ensure that you can afford the monthly payments on your loan. You will need to meet the following lending criteria to qualify for swimming pool loans:

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  • Have a not bad credit score and a clean credit history — not affiliated to any debt or bankruptcy agreements
  • Be at least 18 years old
  • Have a steady income
  • Be an Australian citizen or permanent resident

Generally, you’ll have to provide supporting documentation to prove your ability to repay the loan. This can be in the form of payslips, bank statements, employment letters, and a driver’s license or other government-issued ID. You may be asked to provide information for collateral such as asset statements and other documents.

Lenders will verify your income and identity. They will then assess your credit score and determine your eligibility for their loan product. If they approve your loan application, they will offer you a loan amount, term, and interest rate based on your credit score.

If you want to borrow a larger amount for your pool  or car finance, you need to reassure lenders you are a viable candidate with great financial security. It’s much easier to get the best deal from lenders when they know they won’t be taking on a higher-risk client who may struggle with repayments or default on the loan.

Main Options Of Swimming Pool Loans

There are a few different options for pool financing in Melbourne. You can take out a personal loan, use a credit card, or finance the pool through a home equity loan.

Personal Loans

Personal loans are one of the most common pool finance options. Personal loans can be used for a variety of purposes, including pool financing. This can be in the form of a secured loan with a collateral attached as security or an unsecured loan. With a secured loan you’ll have better swimming pool loan interest rates, larger borrowing amounts and generally more flexible repayments.

Credit Lines

Credit lines are another option for swimming pool finance. If you’ve yet to consider a fixed amount for the expenses you need to finance your pool, a line of credit gives you the flexibility to access funding as you need it. It’s a great alternative when you aren’t sure how much you should borrow or when you would need additional funds. You will only be charged interest on what you borrow and not your entire credit line. The only drawback is the interest rate for credit lines are usually higher than personal loans.

Mortgage Finance

Mortgage finance is another option for pool financing in Melbourne. As their aim is to finance home repairs and construction works, they too can be repurposed as pool loans. You can increase your mortgage amount and consolidate your debt in one place to better manage your repayments. Again, the interest rate may be higher than some personal loans. But this may be offset by your savings as you won’t have to pay fees on a separate loan. You should calculate the total cost of the loan to see if this is a good option for you.

How Much Does The Installation Usually Cost

Swimming pools are a great addition to any home, and they can add value to your property. However, they can be quite expensive to install. To have a private swim a few steps outside your house comes with various installation costs and long-term maintenance fees. If you’re looking to finance a swimming pool in Melbourne, there are a few things you need to know about your investment.


Construction & Tiling

Whether it’s an above-ground or in-ground pool will heavily affect excavation costs. You can expect to pay $35,000 to upwards of $100,000 for a concrete pool installation. For fibreglass pools, you will pay $6,500 to $25,000 for the shell and $25,000 to $75,000 for installation. This varies based on the size. Further features such as waterfalls, jets, or fountains will add to the cost.



Pool fencing installation costs typically range between $200-$600 per metre, depending on the materials you choose for the job and the state you live in.


Installing a full sized LED pool light will cost $450 to $650. If you go for smaller LED lights, you may be looking at the $300-$500 price range. However this won’t give you full-sized incandescent pool lights.


You need pool insurance to cover for unexpected damages. Check if your home insurance policy offers this coverage. If it isn’t part of your inclusions, you need to invest in a policy that does.



There are many long-term maintenance costs that come with owning a pool. This includes running filtration systems like pumps and filters, chlorination and sanitation systems, heating your pool, replacing lost water and additional maintenance. From aesthetic maintenance to other structural works, a lot goes into keeping a pool functioning. You also need to consider the occasional acid washing, resurfacing, and expensive repair jobs like patching cracks or replacing worn-out lining.

How Do We Rate Lenders

If you’re looking into your pool finance Melbourne options, you need to consider the following when choosing a loan:

Lender’s Review

You need to pay close attention to the legitimacy and reputation of the lender. You should also read customer reviews to have clear expectations of their services.

Loan Amounts

Building a pool isn’t cheap, but it also shouldn’t put you into financial hardship. By taking on a loan, you are taking on debt. You need to make sure you are borrowing a loan amount that meets your needs for construction costs while still staying within your budget. The loan amount a lender offers you will depend on the type of loan you choose and your financial circumstances.

Loan Terms

This refers to the length of time you are able to borrow money. You need to calculate the repayments you will be able to afford and see if you can meet your loan obligations throughout the life of the loan. Shorter terms result in higher monthly repayments, but less in interest, while longer terms give you smaller repayments but you’ll end up paying more in interest.

The Loan’s Cost

You can find out the true cost of the loan by comparing the APR of different loan products. Take into account the interest rate, any upfront and ongoing fees you will be charged, the borrowing amount, and the lending period to know how much you’ll be paying.

Comparing Pool Loans In Melbourne

There are different lenders that offer pool loans in Melbourne. You’ll need to find a lender that offers competitive interest rates and terms. Our brokers at Break Free Home Loans can help you compare interest rates and terms to find the best loan for you. We can submit an application on your behalf for a successful loan approval. Work with us today to obtain finance for your pool.

Have Any Questions About Pool Finance? Talk To Us!

There are many alternatives to financing a pool in Melbourne. If you’re planning to build a pool at your home, talk to a qualified finance broker to secure the best deal on your loan. We can advise you on your situation. Furthermore, Break Free Home Loans can help you compare loan options to find the best one for you.
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Frequently Asked Questions

If you have any questions about pool financing, please contact our brokers at Break Free Home Loans. We’ll happily answer any queries you have on how to finance a pool.

How To Get A Pool Loan In Melbourne?

If you’re looking to finance a swimming pool in Melbourne, there are a few things you need to know. Here’s a quick guide to pool financing in Melbourne:

  • If you’re looking to finance a pool with a personal loan, you’ll need to find a lender that offers pool loans. If you’re considering a pool loan, compare offers from multiple lenders to get the best rate and terms. Be sure to compare things like APRs, fees, and repayment terms before choosing a loan.
  • To make your pool loan application as stress-free as possible, submit your complete income information and other verification documents. This will allow the lender to process your application faster, assess your eligibility and ensure you can afford your repayments. A better credit score will also help you gain more flexible loan terms and interest rates.
  • If you’re not sure where your credit stands, you can check your credit score by viewing your credit report. A score of 720 or higher is considered excellent credit, while a score of 679 or below is considered fair.

What Is Pool Finance?

Pool finance allows borrowers to access the money they need to install a swimming pool rather than paying for the total cost upfront. The borrower will then have to repay the loan amount with interest and fees in regular repayments over a fixed period of time. You can obtain finance in many ways such as:

  • Using a credit card to finance the purchase of a pool. If you’re looking to finance a pool with a credit card, you’ll need to find a card that offers 0% APR on pool purchases. Note that you may have to pay interest when the offer period ends. To enjoy interest-free pool finance you need to pay off the balance before it expires.
  • Consolidating your pool loan into your mortgage finance. This combines your debt into a single account and makes for easier management as you won’t be paying ongoing fees or interest for a separate account.
  • Finding a secured loan or an unsecured loan. If you’re looking to finance a pool with a personal loan, you’ll need to find a lender that offers loans for pool purchases. You’ll also need to compare interest rates and terms to find the best loan for you. Swimming pool loans are a type of personal loan that can be used to finance the purchase and installation of a pool. Pool loans typically have terms of 1-7 years and can be used for both in-ground and above-ground pools.
  • Opening lines of credit from a bank or other finance companies. This allows you to draw on and pay off an established credit limit. The advantage is you’ll only be paying interest for the amount you borrow and not the entire credit line. However, rates tend to be higher than personal loans.

What Are Finance Options Of Swimming Pool Loans?

Pool financing in Melbourne is available from a variety of sources. You can use a personal loan, credit card, or home equity loan to finance the purchase of a pool. Talk to our brokers today to get the best value out of your finance option. We work with a wide range of lenders who offer some of the best pool loans Australia has to offer.

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