Westpac Home Loans

Read on to learn more about some of Westpac’s key home loans and features.

Westpac is Australia’s first and oldest financial institution and has served more than 14 million customers. It’s one of the ‘big four' banks and is one of the largest home loan lenders in the country. The bank has branches all over the country and has home loan products suitable to nearly every type of home buyer and property investor.

Established in 1817, Westpac owns other large Australian banks such as RAMS, St. George, BankSA, and Bank of Melbourne. It also has operations overseas in New Zealand, Asia, and the United Kingdom.

As well as offering home loans, Westpac provides a wide array of banking products and services to personal and business customers, including car and personal loans, credit cards, superannuation, insurance and more.


Compare Westpac mortgage rates

Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

Compare Westpac mortgage rates

    What home loans does Westpac offer?

    Westpac has a wide range of mortgages available for all sorts of borrowers, such as first-time home buyers, renovators, refinancers, and property investors. It offers variable-rate, fixed-rate, and split loans, and the option to make principal and interest, or interest-only repayments.

    Westpac mortgage interest rates

    You can find a complete list of Westpac’s home loan interest rates here for:

    • Premier Advantage Package loans
    • Flexi First Option loans
    • Fixed Options Home Loans
    • Flexi First Option Investment loans
    • Variable Investment Home Loans with Offset Accounts
    • Fixed Rate Investment Property loans
    • Line of Credit loans

      Westpac home loan features

      Westpac offers flexible mortgage features to help meet your needs as a borrower, including:

      • Offset accounts: Westpac has the option to add an offset account to your loan.
      • Additional repayments: Most variable-rate Westpac mortgages allow extra repayments to be made.
      • Redraw facility: Some loans allow borrowers to redraw extra repayment funds from their loans using a redraw facility.
      • Parental leave: If you’re an expecting parent and have had a mortgage for more than 12 months, you may be eligible to reduce your home loan repayments by up to 50% for up to 12 months.
      • Rate lock: For a fee, fixed home loan applicants can lock in an interest rate that will apply on the day of settlement (offering protection from any possible fixed rate hikes that occur before the loan is officially approved).
      • Split loans: Customers can split the rate on their home loan, where part of the loan’s interest rate is fixed and the other portion is variable.

        Westpac mortgage pre-approval

        A pre-approval can give you an indication of how much a lender is willing to let you borrow, helping your budgeting and house hunting. Westpac offers pre-approval for the majority of its loans and you can apply online, in a branch, or over the phone. You’ll need to provide details like:

        • 100 points of ID (passport, drivers licence, Medicare card).
        • Lists of expenses and debts.
        • How much you’d like to borrow.
        • Proof of employment and income.

          How to apply for a Westpac mortgage

          Eligibility criteria

          To apply for a Westpac home loan, you need to make sure that you meet their eligibility criteria:

          • You must be 18 years of age and above
          • You must be an Australian or New Zealand permanent resident
          • You must have a regular source of income

            If you meet these eligibility criteria, you may submit your application by:

            1. Calling the bank and speaking with a Westpac lending specialist
            2. Entering your contact information online and requesting a callback
            3. Visiting a Westpac branch

              Documents needed

              Applying for a Westpac mortgage may require you to submit certain documents such as:

              • Proof of identity validating your name, address and birth date. This can be your passport, Medicare card, driver’s license etc.
              • Details of your ongoing monthly expenses such as food costs, childcare, clothing, transport etc.
              • Two recent payslips and your most recent payment summary or tax return if employed.
              • If self-employed, it may require the last two years of company tax returns.
              • Savings accounts statements.
              • Proof of ongoing rent or board.
              • Proof of assets and liabilities.