Westpac Home Loans

Westpac is one of Australia’s ‘big four’ banks, offering home loans, banking and investment products, as well as home insurance, landlord insurance, and other insurances.

What home loans does Westpac Offer? 

If you’re currently considering a home loan, the comparison table below displays some of the variable rate home loans on our database from Westpac that are available for first home buyers. This table is sorted by Star Rating (highest to lowest), followed by comparison rate (lowest-highest). Products shown are principal and interest home loans available for a loan amount of $350K in NSW with an LVR of 80% of the property value. Before committing to a particular home loan product, check upfront with your lender and read the applicable loan documentation to confirm whether the terms of the loan meet your needs and repayment capacity. Use Canstar’s home loan selector to view a wider range of home loan products.

*Comparison rate based on loan amount of $150,000 and a term of 25 years. Read the Comparison Rate Warning

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Westpac home loan features

Depending on the option you choose, a Westpac home loan may include the following:

  •  An offset account
  • Redraw facility
  • Ability to make additional repayments
  • Repayment holiday available (if extra repayments have been made)
  • Parental leave option available to reduce repayments by 50% for up to six months
  • Interest only repayments available for up to five years (on selected loans only)
  • Top up feature available
  • Draw down loan option available for construction purposes

The inclusions above represent a selection of the features available with Westpac home loans. Canstar is not making any suggestion or recommendation to you about this product. Additional conditions may apply to different features. Please see our comparison tables for more detailed information about products on offer from this provider. Check upfront with Westpac and please ensure that you read the product disclosure statement (PDS) or other loan documentation to determine all the current loan terms and conditions for the product you are considering and whether it meets your needs, before committing to it.

Westpac Home Loans FAQs

Before getting started, you might first like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare home loans with other providers before choosing a product that suits your needs.

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If you decide to apply for a Westpac home loan, you can do this through its website, over the phone, or by requesting a call back online.

At the time of writing Westpac allows unlimited extra repayments on its variable rate home loans. Fixed rate home loan customers may be charged a break cost for extra repayments once the threshold has been reached.

Terms and conditions apply. Contact Westpac for details or visit the Westpac website.

To give you an idea of how making extra repayments could save money in interest over the life of your loan, you might like to try our Extra Repayments Calculator.

Home Loans Extra Repayments Calculator

Westpac offers redraw facilities on some of its home loans, provided you’ve paid off more than the minimum repayments on your home loan and met other terms and conditions. Fees and charges may apply to use of a redraw facility. Contact Westpac for details or visit the Westpac website.

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Westpac says it was Australia’s first bank, and its first officially incorporated company. Established in 1817 as the Bank of New South Wales, Westpac now serves around 13 million customers.

Westpac is one of the big four Australian banks and it owns a number of other banking brands including St. George, Bank of Melbourne, BankSA, and RAMS.

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Written by: Eliza Parry-Okeden | Last updated: September 12, 2019