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Westpac home loans

Westpac has home loans for owner-occupiers and investors, with rates starting from 6.44%.

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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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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Westpac logo
Principal & Interest30% min. depositOwner-occupierSpecial Offer
Westpac logo
Principal & Interest30% min. depositOwner-occupierSpecial Offer
Product NameWestpac Flexi First Option Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.44%
Comp. Rate p.a.6.76%
Minimum Loan Amount$25,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.44%
Comparison Rate
6.76%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
$944
Westpac logo
Principal & Interest 1Y Fixed30% min. depositOwner-occupier
Westpac logo
Principal & Interest 1Y Fixed30% min. depositOwner-occupier
Product NameWestpac Fixed Option Home Loan Premier Advantage Package
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.59%
Comp. Rate p.a.7.68%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.59%
Comparison Rate
7.68%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$958
Westpac logo
Principal & Interest 2Y Fixed30% min. depositOwner-occupier
Westpac logo
Principal & Interest 2Y Fixed30% min. depositOwner-occupier
Product NameWestpac Fixed Option Home Loan Premier Advantage Package
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.49%
Comp. Rate p.a.7.57%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes - Up to $30,000
Interest Rate
6.49%
Comparison Rate
7.57%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$948
Westpac logo
Finder AwardPrincipal & Interest20% min. depositOwner-occupier
Westpac logo
Finder AwardPrincipal & Interest20% min. depositOwner-occupier
Product NameWestpac Flexi First Option Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.54%
Comp. Rate p.a.6.86%
Minimum Loan Amount$25,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.54%
Comparison Rate
6.86%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
$953
Westpac logo
Finder AwardPrincipal & Interest20% min. depositInvestment
Westpac logo
Finder AwardPrincipal & Interest20% min. depositInvestment
Product NameWestpac Flexi First Option Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.84%
Comp. Rate p.a.7.16%
Minimum Loan Amount$25,000
Maximum Loan Amount $20,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.84%
Comparison Rate
7.16%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
$983
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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

Congratulations, Westpac!

Westpac won the award for 'Provider of the Year - Big Four Home Loans' in the 2024 Product Awards.

Full list of 2024 winners

Westpac mortgage features

Here are the key features and details you need to know about Westpac's mortgage products.

FeatureDetails
Deposit sizeYou can borrow up to 95% with many Westpac mortgages, including some of its most competitive rates.
Offset account?Some Westpac loans come with 100% offset accounts, but not all of them do so check carefully before applying.
Repayment optionsWestpac's fixed and variable rate loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans.
Package benefitsWestpac'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).

How to apply for a home loan

Lenders like Westpac

If you're interested in Australia's biggest banks you can also compare loans from Westpac's Big Four rivals.

More home loan questions

Written by

Richard Whitten

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. See full profile

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12 Responses

    Default Gravatar
    ColetteOctober 27, 2022

    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

      AvatarFinder
      RebeccaNovember 11, 2022Finder

      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

    Default Gravatar
    jeanetteSeptember 14, 2015

    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

      AvatarFinder
      MarcSeptember 15, 2015Finder

      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.

    Default Gravatar
    dinaJune 15, 2015

    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

      Default Gravatar
      BelindaJune 15, 2015

      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

    Default Gravatar
    JanNovember 1, 2014

    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

      AvatarFinder
      ShirleyNovember 3, 2014Finder

      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

    Default Gravatar
    LindaFebruary 6, 2014

    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

      AvatarFinder
      ShirleyFebruary 7, 2014Finder

      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

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