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Home Loan Product Features

                        
Fixed Options Home Loan & Fixed Rate  Investment Property Loan
Rocket Repay Home Loan & Rocket Investment Loan 
Flexi First Option Home Loan &
Flexi First Investment Property
Loan
   

Fixed Rate on the Premier Advantage Package#

A fixed interest rate and set repayments that won't change during the fixed term

Variable Rate on the Premier Advantage Package#

A variable interest rate loan  with an offset account and make extra repayments

Basic Home Loan

A basic home loan with variable rate no fees for loan maintenance or redraw and no setup fee with principal & interest repayments

Product      Features       Construction loan
Family guarantee
Offset available
Split loan 1
Portability* 1
Extra repayments* ✔ - up to $30K per fixed period
Redraw ✔ - up to $30K per fixed period
Parental leave  ✔ - OO PIF loans only, after 12 months ✔ - OO loans only
Repayment holiday* ✔ - available redraw ✔- available redraw ✔- available redraw
Switching 1
Top-ups*
Specifications LVR

Investment – up to 90% (LMI cap)

Owner Occupied – up to 95% (LMI cap)

Investment – up to 90% (LMI cap)

Owner Occupied – up to 95% (LMI cap)

Investment – up to 90% (LMI cap)

Owner Occupied – up to 95% (LMI cap)

IO term

Investment – max 10 years

Owner Occupied – max 5 years

Investment – max 10 years

Owner Occupied – max 5 years

Investment – max 10 years

Owner Occupied – max 5 years

Max loan term 30 years 30 years 30 years
Min loan size $15,000 $10,000 $25,000
Min aggregated borrowing for package discounts  $150,000 $150,000 -
PIF repayment frequency W, F, M W, F, M W, F, M
IO repayment frequency M M M
Fees & Charges Annual Package fee# $395 $395 -
Lending Establishment fee $0 - waived $0 - waived $0 - special offer
Loan Account fee $0 - waived $0 - waived $0
Guarantor fee $200 $200 $200

 

*Subject to Bank’s approval.Break costs may apply.2 If at any time before the end of a fixed rate period you switch to another product, interest rate (fixed or variable) or repayment type, then a break cost may apply.

Things you should know

#Premier Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible Westpac Choice transaction account. You must hold a Westpac Choice transaction account to qualify and continue to receive the benefits of the Premier Advantage Package. Read the Westpac Choice transaction account terms and conditions and consider whether the product is right for you. Refer to Westpac.com.au

 

Any application for credit is subject to the Bank’s normal lending criteria. Fees and charges apply. Full details of all product terms and conditions are available on request. These may be varied, or new terms and conditions introduced, in the future. This information is current as at 22 Nov 2021. Internal Use Only. This information has been prepared and is provided solely for the general guidance of staff within the Westpac Group and brokers. It must not be copied, used, reproduced or otherwise distributed or circulated without prior written consent of Westpac Banking Corporation.

 

© 2021 Credit criteria, fees and charges apply. Terms and conditions available on request. Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.