Westpac is one of Australia's Big Four banks. Westpac has home loans for investors and owner-occupiers, including fixed and variable rates and home loan packages. Check out the full table of Westpac products below or read more about the lender and its loans.
Compare Westpac home loans
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Westpac is one of Australia's biggest lenders and has a large range of home loan products. This includes package home loans with lots of extra features and simpler loans with just the basics.
The lender has a nationwide network of physical branches plus phone support and online support.
You can get some Westpac home loans with a deposit as low as 5%.
Beyond mortgages, Westpac also offers savings accounts, transaction accounts and term deposits.
Most Australians already bank with one of the Big Four. They issue the vast majority of home loans in Australia. To determine the winner of our Big Four Home Loans Lender of the Year we looked at the rates, fees and features of the home loans offered by the Commonwealth Bank, Westpac, NAB and ANZ. And Westpac came out on top.
Westpac's package home loans offer discounted mortgage rates, offset accounts and fee waivers on the loan and a credit card.
How do I apply for a Westpac mortgage?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
Each Westpac product has specific eligibility criteria but some will apply to all products. For example:
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with Westpac you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right Westpac loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Do you want help from an actual person? Because Westpac has a large network of branches, you can talk to staff in person when you need home loan help. This is something online lenders and smaller banks may not be be able offer.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes entirely?
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Westpac offers pre-approval and you can apply online or request a callback from a Westpac lending specialist.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-aproval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four (Commbank, Westpac, NAB and ANZ). They have physical branches and ATMs in the most locations and strong customer support. These are big advantages.
But if you're worried that smaller lenders are unsafe or less reliable, you probably shouldn't. In Australia, most lenders are authorised deposit-taking institutions (ADIs) and are regulated by the Australian Prudential Regulation Authority (APRA). Almost every lender has a banking license or partners with a bank.
There's an assumption that interest rates from the Big Four are less competitive than smaller lenders. And while this is broadly true, the gap has shrunk dramatically in recent years. You can get a very good deal from lenders large and small.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification.
We have an investment property – but for the last 14 years one of our family members (part owner) has occupied this property and will continue to occupy for the unforeseen future.
How should our current loan be structured
If you’re not using the property as an investment property you might want to consider switching to an owner-occupier loan. It is best to speak to a mortgage broker or your bank about what option is right for your circumstances.
If your loan is currently with Westpac, you can also ring them for guidance at 131 900.
Unfortunately as we’re not Westpac but rather a comparison service, we cannot answer this. I would recommend you contact Westpac directly for more information. Note that some lenders might not offer a bridging loan in this situation as they will not classify the boat as security in the same way residential property is, meaning they might recommend a personal loan to finance the boat rather than a home loan. It would be useful to contact a mortgage broker directly for more information.
hi i am not trusting my bank statement
because i am not able to understand them?
when i asked at the bank what this charges mean? she said she will have to find out as she is not sure?
this is a personal banker that i see all the time and knows my loan very well.
what do you think ? please
You’ve come through to finder.com.au which is an online comparison service, so please note that we don’t represent Westpac or their home loan products.
Without knowing which charge your referring to, I’m afraid we can’t be of much assistance.
Your best course of action would be to wait and speak with a Westpac representative again.
Currently we do all our banking with Commonwealth bank, we have an Investment Home loan for 398000 and our residential home loan of 498000,
what benefits would we receive if we switched to Westpac
This question is probably best directed at Westpac. Their point of difference would probably best their customer service, as their interest rates are generally the same.
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We have an investment property – but for the last 14 years one of our family members (part owner) has occupied this property and will continue to occupy for the unforeseen future.
How should our current loan be structured
Hi Colette,
If you’re not using the property as an investment property you might want to consider switching to an owner-occupier loan. It is best to speak to a mortgage broker or your bank about what option is right for your circumstances.
If your loan is currently with Westpac, you can also ring them for guidance at 131 900.
Kind regards,
Rebecca
We are selling our home to live on a boat. A oat has come up that we like but we would need bridging finance of 155000. Can you help? Thank you
Hi Jeanette,
thanks for the question.
Unfortunately as we’re not Westpac but rather a comparison service, we cannot answer this. I would recommend you contact Westpac directly for more information. Note that some lenders might not offer a bridging loan in this situation as they will not classify the boat as security in the same way residential property is, meaning they might recommend a personal loan to finance the boat rather than a home loan. It would be useful to contact a mortgage broker directly for more information.
I hope this helps,
Marc.
hi i am not trusting my bank statement
because i am not able to understand them?
when i asked at the bank what this charges mean? she said she will have to find out as she is not sure?
this is a personal banker that i see all the time and knows my loan very well.
what do you think ? please
Hi Dina,
Thanks for your enquiry.
You’ve come through to finder.com.au which is an online comparison service, so please note that we don’t represent Westpac or their home loan products.
Without knowing which charge your referring to, I’m afraid we can’t be of much assistance.
Your best course of action would be to wait and speak with a Westpac representative again.
Kind regards,
Belinda
Hi as a non resident but a NZ citizen, can I apply for a home loan with Westpac, and/or be on the same loan document as an Australian resident.
Thanks
Hi Jan,
Thanks for your question.
Yes this possible, though you are still required to meet Westpac’s lending criteria.
Also, you’ll need to apply over the phone or within a branch (remember to bring all your documentation with you).
Cheers,
Shirley
Currently we do all our banking with Commonwealth bank, we have an Investment Home loan for 398000 and our residential home loan of 498000,
what benefits would we receive if we switched to Westpac
regards
Linda
Hi Linda,
Thanks for your comment.
This question is probably best directed at Westpac. Their point of difference would probably best their customer service, as their interest rates are generally the same.
Cheers,
Shirley