Westpac key facts
- 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.
Review by our senior home loans writer Richard Whitten
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