Your broker and home loan partner
At Westpac, we’re here to help you find the best home loan for your clients, with competitive rates, flexibility, and services to suit both of your needs.
Latest features that could benefit your clients
Service lead times
Processing times for first touch**
| Full Application | Accredited | Gold | Platinum |
|---|---|---|---|
| PAYG Standard | 3 days | 3 days | 1 day |
| PAYG Specialised | 6 days | 6 days | 1 day |
| Australian Government 5% Deposit Scheme | 14 days | 14 days | 1 day |
| Self-employed | 7 days | 7 days | 1 day |
| Individual as Trust | 14 days | 14 days | 1 day |
| Escalations | Up to 4 hours | ||
| Approval In Principle | Accredited | Gold | Platinum |
| PAYG | 10 days | 10 days | 1 day |
| Self-employed AIPs | 12 days | 12 days | 1 day |
| Returned Information | Accredited | Gold | Platinum |
| PAYG Standard | 1 day | 1 day | 1 day |
| PAYG Specialised | 1 day | 1 day | 1 day |
| Australian Government 5% Deposit Scheme | 3 days | 3 days | 1 day |
| Self-employed | 1 day | 1 day | 1 day |
| Individual as Trust | 1 day | 1 day | 1 day |
Definitions
| Standard | PAYG, <=$3M, Fast Track, LMI, >80% LVR |
| Specialised | Australian Government 5% Deposit Scheme, Individual Trustees, Multiple Entities, =>$3m, Construction, Guarantors, Bridging Loans |
| Self-employed | Self-employed (Full Assessment) |
| Time to Settlement | All segments |
|---|---|
| Doc Prep | 1 day |
| Progress Payments | 2 days |
| FHOG | 1 day |
| Certification for Settlement | 1 day |
| Loan Servicing | All segments |
|---|---|
| Loan Maintenance and Investigation | 5 days |
| Product Switching | 10 days |
Important information
This information is a guideline for expected assessment time at the date of publication and may vary depending on various environmental changes.
Ensure your application is error-free to get your application processed faster.
Westpac works tirelessly to deliver the service levels you expect. While we’re prioritising these queues, we’ll endeavour to keep you updated as our service levels change.
We apologise for any inconvenience and would like to thank you for your continued support and understanding.
How we’re making Westpac an easy choice
Simplified ID process
We’ve reduced required ID documents from 2 to 1. With NextGenID’s simplified Document Verification Service, our pass rate has increased to 94% as of January 2025.
Award-winning service
Enjoy award-winning service from a dedicated team of BDMs, some who have been Australian Mortgage Award Winners 2023/2024.
Priority Refinance
Turn your client refinances around with a faster and simpler solution to traditional procedures and avoid waiting for the other lender to process the discharge***.
Flexible features
From offset to redraw, making extra repayments or using portability when buying and selling, our loans adjust to your client's needs.
Need some help but don't know where to start?
The first port of call is to contact your Aggregator or a Business Development Manager (BDM) from your State or Territory. Alternatively, you can call our Broker Hotline, Monday to Friday: 8.30am-7pm (AEST), 6.30am-5pm (AWST).
Things you should know
Credit Criteria, fees and charges apply. Terms and conditions available on request. Based on Westpac's credit criteria, residential lending is not available for Non-Australian Resident borrowers.
This information's been prepared without taking your clients objectives, needs and overall financial situation into account. For this reason, your client consider the appropriateness of the information and, if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent advice on any taxation matters.
If any of the information related to (or provided by) Westpac Group that you rely on is printed, downloaded or stored in any manner on your systems, files or otherwise, please ensure that you update your systems and files with the most up-to-date information provided by us and rely only on such updated information.
*Offset is available on a Rocket Repay Home Loan or a Rocket Investment Loan. You can link multiple offset accounts to a loan account, but each eligible offset account can link to just one loan account. If any named account holder of a transaction account is not a borrower on the loan account, the loan account cannot be linked to that transaction account.
** In by 5pm AEST. Service times are based on the application being lodged correctly with all supporting mandated documents required by Westpac. The days shown in the table above are business days.
Applications submitted under the Australian Government 5% Deposit Scheme may require up to one additional business day for processing compared to PAYG Specialised applications. This is in addition to the current service level agreement.
***Priority Refinance: Only available: on eligible new Westpac home loans; on eligible home loans with your current lender; if your other lender is on the Priority Refinance process list of eligible financial institutions. Your other lender may charge you an additional settlement agent fee, as well as fixed rate home loan break costs. Loan suitability for the Priority Refinance product is determined by Westpac in conjunction with the insurance product guidelines. Priority Refinance is provided by First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908 Australian Financial Services Licence 263876, trading as First Title, an Australian general insurance company authorised by the Australian Prudential Regulation Authority. Conditions, fees and charges apply. Lending criteria apply to approval of credit products. This info doesn't take your personal objectives, circumstances or needs into account, so please consider Priority Refinance's appropriateness and read the disclosure documents for your selected loan, including the Terms & Conditions, before deciding.
Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.