Corporate Partner: home loan refinance
Up to $3K cashback for switching your home loan to us**
Bonus $1,000 refinance cashback just for eligible Corporate Partners. Apply by 31 August 2022 and settle by 30 November 2022. Excludes home loans financed through a mortgage broker.
Add this to our standard $2,000 refinance cashback with an LVR+ up to 80%. Apply by 31st October 2022 and settle by 31st January 2023.
Both offers available on our basic and packaged# home loans ($395 annual package fee^ applies). Min loan amount $250k. Excludes refinances within the Westpac Group.
No package fee for the first year^
Package# benefits include a home loan interest rate discount, selected fee waivers, and no annual card fee on our Altitude Black credit card (when linked to your package).
The annual Premier Advantage Package fee^ of $395 is waived for the first year only, for Corporate Partner home loan customers.
The fee will then be payable from an eligible Westpac Choice transaction account after the first year. Discount applies at the time of application when you tell us you're a Premier Advantage Package customer.
Why switch to Westpac?
Make extra repayments anytime, package your loan, and pay no fee to redraw2 or take a repayment holiday3.
Manage your loan, make extra repayments and redraw anytime. Stay in-the-loop with notifications. Plus login with face recognition and fingerprint secure sign in.
Option to split
There’s no fee to split your loan balance into a separate fixed rate account and variable rate account to get the best of both worlds.
Every dollar in your everyday offset account counts towards reducing the interest on your linked variable home loan. Flexibility, without the need to transfer spare money to your home loan.
What is LVR?
One of the common terms that you'll come across in the home loan market is loan-to-value ratio, or LVR. But what does it mean exactly? Put simply, LVR is comparing the lender's valuation of the property you wish to buy to the size of your loan, expressed as a percentage. For example, if your property is valued at $1 million by your lender, and your loan is eight $800,000, your loan-to-value ratio is 80%. So the bigger your deposit, the lower the LVR will be, which means lenders may assess you as a lower risk, and may be able to offer you a lower interest rate. If your LVR is at the higher end, meaning over 80%, you may be required to take out Lenders Mortgage Insurance (LMI), which is an additional cost to you. If you want to decrease your LVR and avoid paying LMI, a family member may be able to help, by acting as a guarantor. Or you could keep saving until you have a larger deposit, or consider buying a cheaper home in order to get a foot in the market. Something to keep in mind.
Thinking of switching more than your home loan?
Enjoy discounts and rewards
Get discounts on some of your favourite brands with your everyday account, and earn points with our rewards credit cards.
Save more when you package
As well as discounts on your home loan, you’ll pay no card fee on a Westpac credit card (when linked to your package#), and no monthly fee on our everyday bank account ($395 annual package fee^ applies).
It's easy to manage your money
Manage all your accounts in one place. Pay easily with PayID, near-instant bank transfers, Apple Pay, Google Pay, Samsung Pay, and more.
We keep your money safe
Our everyday accounts and credit cards are backed by our 24/7 Fraud Monitoring and Fraud Moneyback Guarantee4.
It's easy to switch
Fill in a few details and one of our dedicated team will aim to get back to you within one business day.
Things you should know
Program eligibility. If you didn’t receive the link to this Corporate Partners Program site directly from your organisation, you may be ineligible to receive Program benefits. To check, ask your employer, community group or government organisation if they’re a Westpac Corporate Partner e.g. contact your group coordinator, HR or department head. If you still have questions, fill in a few details and one of our team will aim to get back to you within one business day.
^ The annual package fee of $395 is waived for the first year only for Corporate Partner customers. The annual package fee will be payable from an eligible Westpac Choice transaction account after the first year. Discount applies at the time of application when you tell us you're a Premier Advantage Package customer.
+LVR stands for the initial loan to value ratio at loan approval. 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 don’t change because of changes to the LVR during the life of the loan.
#Premier Advantage Package: Conditions of Use and $395 annual package fee applies. You must either hold or be approved for a Westpac Choice transaction account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Applicants must have a Westpac Choice transaction account linked to the home loan at the time of settlement and must keep this account open for 60 days after settlement. Before deciding to acquire a Westpac Choice account, read the terms and conditions, and consider whether the product is right for you. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.
^^ 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.
2Redraw facility: if you have ‘available funds’ (you’re ahead on your home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Read our for full details. Redraw will not apply if you have a Bridging Loan.
3Repayment holiday: Conditions, eligibility and suitability criteria apply.
- Reduced loan repayments: reduction of up to 50% available for up to 6 months on variable home loans held with us for over 12 months. It is important to understand that at the end of the reduced repayment period, the repayment amount will increase to adjust for the reduced repayments. This ensures that the loan is still repaid within its original term. Read the disclosure documents for your selected product or service before deciding if this option is right for you.
- Mortgage repayment pause: available for up to 6 months on variable home loans held with us for over 12 months.
- Parental leave: if you’ve held your variable home loan with us for over 12 months, you could be eligible to reduce your home loan repayments up to 50% for up to 12 months while on maternity or paternity leave, subject to approval.
4 Westpac Fraud Money Back Guarantee ensures that you’ll be reimbursed for any unauthorised transactions, provided that you haven’t contributed to the loss and you’ve contacted Westpac promptly. Refer to the credit card or debit card’s Terms & Conditions for full details, including when you’d be liable.
*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.
^^^Flexi First Option special offer rates with Principal & Interest repayments
Special offers are only available on new Flexi First Option Home and Investment Loans with Principal & Interest repayments. Discounts do not apply to internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Offer may be varied or withdrawn at any time. Interest rates are subject to change:
- For a property to live in (Owner occupier): Offer commences 21/06/2022. Includes a 1.94% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.54% p.a. discount for the life of the loan.
- For an investment property: Offer commences 21/06/2022. Includes a 2.09% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.69% p.a. discount for the life of the loan.
++ Potential savings: gives an indication of the amount you could save on new repayments if you switched to the Westpac home loan example, with calculations based on monthly repayments, in respect to the original amount, annual interest rate and term you entered. Potential savings over the life of your loan are based on the difference between estimated total interest on your current home loan and the Westpac home loan. Loan term reduction amount is based on the time you could save by paying off the Westpac home loan if you increased your repayments. Extra interest you could save calculation is based on increasing your repayments on the Westpac home loan.