Relax knowing your home loan is being looked after by a bank with almost 200 years of experience.
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 maintains a strong presence within Australia, New Zealand and the South Pacific, but it also maintains offices in major financial centres around the world including London, Hong Kong, New York and Singapore.
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 Home Loan Offer
Westpac Flexi First Option home loan offers a low-interest rate with no ongoing fees. Borrow up to 95% p.a. of your home loan value.
- Interest rate of 3.59% p.a.
- Comparison rate of 4.42% p.a.
- Application fee of $600
- Maximum LVR: 95%
- Minimum borrowing: $25,000
Compare Westpac home loans
Check out our Westpac home loans comparison below for more details on their latest home loan offers.
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. More about Westpac Standard Variable Home Loans
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. More about Westpac Fixed Rate Home Loans
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.