Looking for a home loan from one of Australia's Big Four banks? Compare Westpac mortgage rates, fees and features.
Westpac and Velocity special offerWestpac has partnered with Velocity to offer Velocity Frequent Flyer Points to new Premier Advantage Package home loan customers. Borrowers who take out a home loan of $250,000 or more can receive 200,000 Velocity Points, while borrowers who take out a home loan of $1,000,000 or more can receive 500,000 Velocity Points.
The offer is available to new borrowers who apply for the Premier Advantage Package between 01 October 2018 and 31 January 2019 and who settle by 31 March 2019. A $395 package fee and other terms and conditions apply.
Compare Westpac home loans
You can compare a range of Westpac mortgages in the tables below. If you want expert help applying for any of the loans on this page hit the "Enquire Now" button and leave your details. Then a lending specialist will call you back and talk you through your mortgage options. It's completely free and the specialist can help you with everything from comparison and mortgage application through to settlement day.
History of the Westpac group
Westpac has grown from a single branch in Sydney in 1817 to become one of the largest home lenders, and it also boasts one of the largest branch networks across the country with nearly 1,200 branches and more than 2,900 ATMs.
Westpac has a goal to provide as many of their customers' banking and wealth needs as possible, which is why the company maintains a multi-brand model. This includes brands such as St.George Bank, BankSA, Bank of Melbourne and RAMS Home Loans.
Westpac offers a range of individual home loan products designed to suit a variety of needs. These can be broken down into three main loan types:
Standard Variable Home Loan
The Standard Variable Home Loan range could be a good option for any home buyer wanting to take advantage of flexible features. Some features include the ability to link a 100% offset account to a variable home loan and a redraw facility that gives access to any extra funds that may have been paid into the loan account. Customers may also benefit from the discounts available off the standard variable rate under the Premier Advantage Package. These discounts increase as the loan sizes increase.
Fixed Rate Home Loan
Westpac offers competitive fixed interest rates for anyone who wants certainty that their repayments won't rise throughout the fixed term.
Line of Credit Home Loan
Westpac's Line of Credit products allow you to access your equity in a flexible way. You can deposit money into the account at any time and access it via ATM or electronic banking. Payments are also flexible, as they're calculated based only on the interest due on the outstanding balance, not the entire available credit limit.
Optional extras that can be included with a Westpac home loan
Westpac offers a diverse range of optional extras with their home loans. This allows you to tailor your banking products to suit your specific needs. This includes:
The Westpac Premier Advantage Package offers discounts when you bundle banking products that suit your own financial goals.
The package includes waived monthly account keeping fees on a Westpac Choice Transaction Account and discounted credit card annual fees. Customers choosing the Premier Advantage Package can also receive bonus interest on fixed term deposit accounts as well as bonuses and further discounts for superannuation and other wealth products.
Estimate your home loan repayments by filling in some of your details
Applying for a Westpac home loan
Applying for a Westpac home loan is very simple, but you will need to prepare some information before you submit your application.
You must be over 18 and a permanent resident of Australia. You will also need to provide some form of income verification. This might be recent payslips, tax returns or an employment contract. If you have other forms of income coming into the household, you should verify these too. These might include family allowance payments or investment income.
Self-employed applicants will need to provide business or company tax returns for two full financial years. Westpac may also ask to see personal tax returns for the same period of time. This will need to include a full profit and loss statement and a balance sheet.
The home loan application will ask you to fill in some details about your current financial situation. This will include any details about your monthly expenses and any repayments you currently make on any outstanding debts you have. You'll also need to provide any information of other expenses you might be paying, such as HECS/HELP debts or child support payments.
Westpac will ask you to verify evidence of your savings history by providing bank statements for your savings account. If you're refinancing, you can do this by providing existing mortgage statements. If you're buying a home, you will need to provide a copy of the fully executed, signed Contract of Sale for the property.
Westpac offers an online home loan enquiry form that allows you to enter your details and information at a time that suits you, or request a call-back from a Westpac banker at a time you would prefer.