Home loan fees & costs
We’re here to help you understand your home loan fees and costs, including upfront, ongoing and other fees.
- Loan increases (property valuer fee may apply)
- Extra repayments on variable loans
- Up to $30k in extra repayments on fixed loans (break costs[#] may apply if you repay more)
- Redrawing from your loan[#]
- Construction option (property valuer fees may apply)
- Portability option (moving house)
- Repayment Holidays
- Loan switching (changing loan/repayment type – break costs[#] may apply for changes to a fixed rate loan)
What fees are on my Westpac home loan?
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For owner occupied and investor loans.
| Fees and costs | Amount |
| Upfront | |
| Lending establishment fee | $0 |
| Document processing fee | $100 |
| Ongoing | |
| Monthly loan account fee | $0 |
| If applicable | |
| Lenders Mortgage Insurance premium (may be payable if your loan-to-value ratio is more than 80% of your property’s value) | Individual calculation |
| Additional bank cheque at settlement | $10 |
| Missed payment fee | $15 |
| Overdrawn fee | $15 |
| Property valuer fee (may be payable if a valuation is needed) | Determined by external valuer's fee |
| Loan discharge fee | $350 per settlement activity |
See more about our basic variable home loan
For owner occupied and investor loans.
| Fees and costs | Packaged[#]amount | Without package amount |
| Upfront | ||
| Lending establishment fee | $0 | $600 |
| Document processing fee | $100 | $100 |
| Ongoing | ||
| Annual Premier Advantage Package fee | $395 | - |
| Monthly loan account fee | $0 | $8 |
| Monthly account-keeping fee on any linked offset account | Waived[#] | Waived[#] |
| If applicable | ||
| Lenders Mortgage Insurance premium (may be payable if your loan-to-value ratio is more than 80% of your property’s value) | Individual calculation | Individual calculation |
| Additional bank cheque at settlement | $10 | $10 |
| Stop cheque payment fee | $12 | $12 |
| Missed payment fee | $15 | $15 |
| Overdrawn fee | $15 | $15 |
| Property valuer fee (may be payable if a valuation is needed) | Determined by external valuer's fee | Determined by external valuer's fee |
| Loan discharge fee | $350 per settlement activity | $350 per settlement activity |
See more about our variable home loan with offset account
1-5 year loan term for owner occupiers and investors.
| Fees and costs | Packaged[#]amount | Without package amount |
| Upfront | ||
| Lending establishment fee | $0 | $600 |
| Document processing fee | $100 | $100 |
| Ongoing | ||
| Annual Premier Advantage Package fee | $395 | - |
| Monthly loan account fee | $0 | $8 |
| If applicable | ||
| Lock-in fee (to lock-in a fixed rate) | 0.10% of loan amount | 0.10% of loan amount |
| Lenders Mortgage Insurance premium (may be payable if your loan-to-value ratio is more than 80% of your property’s value) | Individual calculation | Individual calculation |
| Break cost[#] | Individual calculation | Individual calculation |
| Additional bank cheque at settlement | $10 | $10 |
| Missed payment fee | $15 | $15 |
| Overdrawn fee | $15 | $15 |
| Property valuer fee (may be payable if a valuation is needed) | Determined by external valuer's fee | Determined by external valuer's fee |
| Loan discharge fee | $350 per settlement activity | $350 per settlement activity |
See more about our fixed options home loan
A short-term variable interest loan for owner occupiers.
| Fees and costs | Amount |
| Upfront | |
| Lending establishment fee | $600 |
| Document processing fee | $100 |
| Ongoing | |
| Loan account fee | $8/month |
| If applicable | |
| Overdrawn fee | $15 |
| Property valuer fee (may be payable if a valuation is needed) | Determined by external valuer's fee |
| Loan discharge fee | $350 per settlement activity |
See more about our bridging loan.
For Sustainable Upgrades Home Loan:
| Fees and costs | Amount |
| Upfront | |
| Lending establishment fee | $0 |
| Ongoing | |
| Monthly loan account fee | $0 |
| If applicable | |
| Overdrawn fee | $15 |
| Missed payment fee | $15 |
| Loan Discharge Fee | $0 |
See more about our Sustainable Upgrades Home Loan
What are some of the other costs of buying a home?
Upfront Government costs can include:
- Government transfer/stamp duty, based on your home’s value (first home buyers could be eligible for grants and concessions)
- Government mortgage registration fee
- Government land tax and registration of title.
Upfront non-bank costs can include:
- Legal or conveyancing fees
- Pest, building or strata reports
- Optional independent valuer’s fee.
Ongoing non-bank costs can include:
- Local Government council rates
- Utilities, like electricity
- Insurance
- Strata levies, for most units
- Home maintenance.
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