Westpac Flexi First Option Home Loan

Enjoy a competitive, discounted interest rate, flexible features and no maintenance fees when you apply for a Westpac Flexi First Option Home Loan.

The Westpac Flexi First Option Home Loan combines a basic home loan with a host of features, such as a redraw facility and flexible repayment options. With a competitive variable rate, the loan allows you to make extra repayments at any time to help you pay off your home loan debt quicker.

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Review by


Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

The Westpac Flexi First Option Home Loan is Westpac’s basic mortgage option which is available for borrowers who are buying or building a home, or refinancing an existing loan.

About this loan

What are the features and benefits of the Westpac Flexi First Option Home Loan?

  • Maximum LVR. You can borrow up to 95% of the value of the property you are buying with the Westpac Flexi First Option Home Loan; however, loans of more than 80% LVR will require you to pay lenders mortgage insurance (LMI).
  • Additional repayment flexibility. This loan allows you to make additional repayments at any time without incurring a fee. Making extra repayments allows you to minimise the amount of interest you pay over the life of your loan.
  • Redraw facility. You can access your extra repayments through a redraw facility for a $0 fee.
  • Repayment options. You can choose to pay principal and interest or interest-only with the Westpac Flexi First Option Home Loan.

How to apply

To find out more about this loan, or to apply, click the 'Go to site' button below. This will take you to the Westpac website where you can arrange a callback or start an application. To arrange a callback, you'll need to enter your contact details.

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2 Comments

    Default Gravatar
    Mumtaz
    December 13, 2017

    What will be the benefit of refinancing? How many and how much loan can be refinanced and for how long?

      Avatarfinder Customer Care
      Rench
      December 19, 2017

      Hi Mumtaz,

      Thanks for your inquiry.

      As stated on our complete guide to refinancing your home loan, the benefits of refinancing depends on your situation but usually refinancing can help you:

      • Save some serious money
      • Repay your mortgage faster
      • Unlock equity
      • Get your finances back on track
      • Unlock better features

      Your loan term and interest would depend on the bank you go with. If you’d like to apply with Westpac, simply press the “Apply Now” on this page to be securely redirected to their online enquiry form. Alternatively, you may refer to our list of refinance home loans to compare your options.

      Please click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Alternatively, you can speak to a mortgage broker who can take your personal circumstance into account and offer you a range of borrowing options.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Best regards,
      Rench

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