Refinancing my loan
Why switch to us?
There are lots of great reasons for refinancing your home loan with Westpac:
- Your financial circumstances change
- Your lifestyle changes, maybe you’re planning a family
- You’re thinking of renovating
- You want a better banking deal that reduces your fees and interest rates
- You want to consolidate your personal loan and credit card debts under a home loan, and pay home loan interest rates
- Your current mortgage no longer meets your needs, or
- You’re dissatisfied with your current lender.
Even if you currently have a Westpac mortgage, it can be worth reviewing your current loan to ensure you’ve got the best loan for your current situation.
We can help you save money
Taking out our Premier Advantage Package offers savings of up to 0.7% p.a for loan amounts of $250,000 or more variable rate loans.1
And our Rocket Repay Home Loan provides a linked 100% offset transaction account. This means that every dollar in your transaction account reduces the balance in your loan. The more funds in your account, the less interest you’ll pay.
Our lowest variable interest rate home loan is the Flexi First Option Home Loan. It offers a range of flexible options, and you only pay for them if you use them. We also offer a range of other ways to reduce your repayments.
Talk to our Home Loan Experts to understand how different repayment scenarios can save you money. Or use our range of online tools and calculators to work out how you can save on your home loan
Review your options
You can use these calculators2 to work out what your repayments will be and options for shrinking your overall loan term by changing your repayment regularity or amount.
A great range of flexible features
You’re likely to have your home loan for a long time, and your situation can change from the time you first buy your home. You might want to renovate, start a family, take an extended holiday, or buy a new home.
You can keep your options open down the track, as Westpac offers a number of features to help you when these things happen. Depending on the loan you choose, these can include 100% offset, redraw, parental leave and repayment holidays.4
Our Home Loan Experts
Our Westpac Home Loan Experts are available to you all the way through the home loan process. They can:
- Show you our home loan options
- Highlight key benefits
- Assist if you need help with refinancing.
They can also save you:
- Time by helping you choose the right loan
- Money with a 10-minute personal illustration to demonstrate various repayment scenarios that show you different ways you could save money.
For more information, read up on our expert property information.
Things you should know
- The information contained within this page is general in nature. It serves as a guide only and does not take into account your personal financial needs. Before you act on this information you should seek independent legal and financial advice. Westpac does not warrant the accuracy or appropriateness of this information.
- 1. Package discounts apply to loan amounts from $150,000 and above. Other discount margins are available and vary on product type and loan size.
- 2. The calculations we give you are a general guide only and are based on current interest rates which are subject to change. The formula used in these calculators may change. Before relying on the calculation you should seek independent advice. Calculations do not take into account fees and charges.
- 3. Information about a third party's products or services is provided for convenience only and does not represent any endorsement by Westpac of the products or services offered. While such material is published with permission, Westpac Banking Corporation accepts no responsibility for its accuracy or completeness.
- 4. Subject to approval. Fee and charges may apply.
