
Home renovation loan
Renovating your home – where to start
From simple makeovers to major structural work, we're here to help you figure out your plans and explore how best to finance them.
- Answer a few questions about your renovation
- We’ll suggest some loan options for you
- Use our handy tools, articles, tips and FAQs
Not sure whether you want to renovate?
Should you renovate your home to rent out or live in – or sell and move somewhere better?
Do you have a home loan on this property?
Construction loan option
For larger or complex renos, you may need to add our construction option to any of our home loans.
Switch to Westpac and increase
Increase your current Westpac loan
If you have equity in your property or land, you may be able to use it to increase your home loan.
Take out a larger home loan
You can include your reno costs in your total home loan amount.
Guides and tools for renovating
Frequently asked questions
If you’ve registered for redraw and are ahead on repayments, you can tap into your Available funds whenever you need.
Westpac App – tap your home loan account and tap Transfer to move funds to a Westpac account or Pay to transfer to another bank account.
Haven’t set up your redraw? Simply login to online banking to submit your request or print, sign and email a scanned copy (or hi-resolution photo) of our Redraw Authority form (PDF 66KB) to loanmaintenance@mortgage.westpac.com.au (no need to include a stamp from the bank). Redraw is subject to approval.
More on home improvement loans
Things you should know
Applying for a Westpac Home Loan (PDF 403KB)
Deposit Accounts for Personal & SMSF customers - Terms & Conditions (PDF 1007KB)
Premier Advantage Package Conditions of Use (PDF 88KB)
Credit Criteria, fees and charges apply. Terms and conditions available on request. Based on Westpac's credit criteria, residential lending is not available for Non-Australian Resident borrowers.
1 Break costs on prepayments and switching: Customers can make total prepayments of up to $15,000 (cumulative) for loans fixed prior to 21 March 2009, $25,000 (cumulative) for loans fixed between 21 March 2009 and 16 March 2012 or $30,000 (cumulative) for loans fixed on or after 17 March 2012, without costs or fees applying. Prepayments exceeding this threshold may incur a break cost.
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.