Buying your next home
Upsizing, downsizing or buying another home? Let’s make your next move a smooth one.
Why choose Westpac for your next home?
Discounted variable rates
Get a sweet rate, tailored just for you. Simply book an appointment.
Take your loan with you
Your existing loan could go with you, with no break fee for fixed loans. Conditions apply.
Less hassle, more speed
If your current home loan’s already with us we can streamline your application.
Our lowest online variable rate
Online Offer basic variable rate
Comparison rate*
Our lenders love to help
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I want to...
You could use up to 80% of the equity in your current home to increase (top-up) your home loan. Then, use the extra money to buy your next home.
Why this helps:
- Take your time finding your home
- A bigger deposit can mean no LMI and better rate
- No need for short-term accommodation
- If your first home’s value goes up, your equity increases
Some considerations:
- Bigger loan means bigger repayments
- Borrowing more than 80% of your equity could mean paying LMI
- Two loans could make it harder to borrow again later
- Rent from an investment property might not cover your loan payments.
Home buyers’ tip #3
Time-poor or buying in an unfamiliar area? A buyer’s agent could help you find, properties, scope them out, and negotiate on your behalf.
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Things you should know
Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.
This information is general in nature and has been prepared without taking your personal objectives, circumstances and needs into account. You should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.
Taxation considerations contained in this article (on this page) are general in nature. They do not take into account your personal circumstances and they should not be interpreted or used as tax advice or a tax guide. You should seek independent tax advice to determine the appropriate tax consequences relevant to your circumstances before making any decision based on this information.
+LVR stands for the loan-to-value ratio. LVR is the amount of your loan compared to the Bank's valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won't change during the life of the loan as the LVR changes.
*Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.