Split Home Loan Calculator
See how you could split your home loan. Choose how much you want as variable and how much as fixed.
This calculation isn’t an offer of credit but only an estimate of split loan repayments based on the info provided, and doesn’t include all applicable fees (except for monthly fees). Your repayments may be different when you complete a full application, and we capture all details relevant to our lending criteria. Our lending criteria and basis upon which we assess what you can afford may change at any time without notice. Before acting on this calculation you should seek professional advice.
All interest rates referred to in the calculators are current, as indicated on westpac.com.au. The interest rates represented on this page may include promotional discounts and are subject to change. When assessing ability to service a loan, Westpac may use an interest rate that’s higher than the current interest rate for the loan requested.
The output of each calculator is subject to the assumptions provided under each calculator and are subject to change. The calculator does not take into account any future refinancing options which may be available, or any product features, grants or applicable bank fees. For details on fees and charges, please go to westpac.com.au/personal-banking/home-loans/fees/
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.
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.
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.
Premier Advantage Package Conditions of Use (PDF 195KB)
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.
Break costs on fixed loan prepayments and switching: customers can make total prepayments of up to $30,000 (cumulative) for fixed loans, without costs or fees applying. You may incur a break cost and administration fee if your prepayments exceed this threshold, or 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.
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Everything you need to know about splitting a home loan
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Estimate your repayments based on your loan amount
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Frequently asked questions
How does a split loan work?
A split home loan lets you enjoy the certainty of a fixed rate and the flexibility of a variable rate. You can choose how much of your loan is fixed and how much is variable.
Enter your loan details into our split loan calculator to find your repayment amounts. For each part of your loan — fixed or variable — enter a dollar amount or a percentage. The other amount will update on its own.
How do I split a new Westpac home loan?
Thinking about buying a home or refinancing with us? You can start your application online. One of our home loan specialists will call you to explain what a split loan is and how it could work for you.
If you have questions, you can book an appointment to:
- Video chat with a lender
- Call to chat with a lender
- Meet with a lender in person.
How do I split an existing Westpac home loan?
You can fix part of your variable rate loan at any time in the Westpac App or Online Banking.
Want to split your variable rate loan? Here’s how:
In the Westpac App
- Select your home loan
- Scroll down to Home loan settings and select Switch to fixed rate
- Choose a portion to fix and select the number of years. Follow the prompts and submit.
In Online Banking
- Select your home loan
- On your dashboard, open your loan’s drop-down menu. Select your home loan
- Choose a portion to fix and select the number of years. Follow the prompts and submit.
Want to split a fixed rate loan before the end of your fixed term? You may have to pay a break cost. To find out what this might be, book an appointment for a break cost quote.
Not sure what’s right for you? Try our home loan selector tool.
What are the benefits of a variable rate?
The interest rate on a variable rate home loans can fluctuate: it could go either up or down, which would affect your repayments.
Variable rate home loans tend to offer more flexibility. They allow you to make unlimited additional repayments if you find yourself with spare cash, so you’ll be able to pay off your loan early. You can also redraw these extra funds if you need them for things like renovating.
Our Rocket loans have features like offset – a transaction account linked to your loan that counts against your mortgage balance, to help reduce your interest. Calculate how much you could save with offset.
What are the benefits of a fixed rate?
Fixed rate home loans have an interest rate that doesn't change for a set period of time, giving you the certainty of knowing what your repayments will be. With our fixed rate home loans, you can choose from our fixed rates between 1 to 5 years.
Fixing your interest rate means if interest rates rise or fall, your monthly repayments and interest charges will still stay the same for the duration of the fixed rate term.
Fixed rate loans offer repayment certainty but tend to be more restrictive. There are limits on the amount of extra repayments you can make. There could also be break costs for paying off your fixed rate home loan during fixed period. Or switching to another fixed rate or variable rate home loan, before your fixed home loan term ends.
Help when you need it
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.
Any tax information described is general in nature and it is not tax advice or a guide to tax laws. We recommend you seek independent, professional tax advice applicable to your personal circumstances.
By visiting our website, you acknowledge that we may collect information about your visit to help make your experience better and improve our services. If you are an existing Westpac customer, we may contact you with relevant updates, offers, or information that may be of interest. If you prefer not to be contacted, you can opt out at any time by following the instructions provided in our communications or by updating your preferences.