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Flexible line of credit

Flexibility of revolving line of credit allows for flexible access to loan funds through cheque or debit card. Your approved limit can be drawn upon whenever required.

This home loan product is designed for investment and wealth creation. If only the minimum monthly repayments are made more interest will be paid compared to a loan with principal and interest repayments throughout its term.

The loan does not have a specific term (that is, there is no maturity date) meaning you need to prepare a clear exit strategy for its full repayment prior to your retirement, or its ongoing servicing after retirement.

Repayment pause

You may be able to pause or reduce your repayments for a set period.

After the reduced or paused repayments period, repayments will be higher for the remaining loan term. which may result in higher interest being paid overall. Approval of the bank is required.


Learn more about all home loan features

Equity Access Loan with or without Premier Advantage Package

You save on fees when you choose the Premier Advantage Package, however an annual package fee of $395 applies.

Fee With Premier Advantage Package Without Premier Advantage Package
Loan establishment fee $0   $600 (one upfront fee) 
Loan maintenance fee $0 $10 per month
Top up / Loan increase fee $0 $400
Portability fee (Taking your home loan with you) $0 $300 per move
Repayment holiday fee $0 $0

Below is the applicable variable interest rate for the Equity Access Loan and also the lower rates you'll pay if you package your new loan under our optional home loan package, Premier Advantage Package. An annual fee of $395 applies.

Variable interest rate for Equity Access Loan

Loan Variable Interest rate 
Equity Access Loan 6.36% p.a.

Equity Access Loan interest rates under our home loan package, Premier Advantage Package   

Package discount on new loan Variable interest rate

$150,000 - $249,999

Your total packaged home loans - new and existing

Special Offer1

0.6% p.a. off the applicable interest rate

Conditions apply. Special limited time offer available from 19/09/2016 which may be withdrawn or varied at any time.

5.76% p.a.

$250,000 - $499,999

Your total packaged home loans - new and existing

Special Offer1  

0.8% p.a. off the applicable interest rate

Conditions apply. Special limited time offer available from 19/09/2016 which may be withdrawn or varied at any time.

5.56% p.a.


$500,000 and $749,999

Your total packaged home loans - new
and existing

Special Offer1

0.85% off the applicable interest rate

Conditions apply. Special limited time offer available from 19/09/2016 which may be withdrawn or varied at any time.

5.51% p.a.

$750,000 and above

Your total package home loans - new
and existing.

Special Offer1

0.9% p.a. off the applicable interest rate

Conditions apply. Special limited time offer available from 19/09/2016 which may be withdrawn or varied at any time.


5.46% p.a.



Interest rates shown are for fully documented loans. Find out more about our Home Loan Package, Premier Advantage package.

Total packaged home loan(s) means all your new and existing home loans that are under Premier Advantage Package.







How to save on home loan fees and charges

Take out a Premier Advantage Package and save

When you package your home loan and bank account, you could enjoy the benefits of our Premier Advantage Package, including interest rate discounts and savings on a range of great products and services. For an annual fee of $395 you could save up to $2,780 in your first year on a $250,000 home loan.

Benefits of packaging your loan

  • Discounts on a range of Westpac standard variable rate and Westpac fixed rate home loans
  • For any packaged home loan, pay no loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan)
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit
  • Pay no annual fee on the card you select from a range of Westpac credit cards
  • Discounts on selected insurance products



If you add up the savings offered by Premier Advantage Package, you could save over $2,000 in the first year and over $1,700 in the second year. You’ll continue to save for the life of your loan when you add up the savings offered by Premier Advantage Package.


Potential savings Saving (year one)  Saving (year two onwards)
0.7% p.a. discount on $250,000 Westpac Equity Access Loan $1,750 $1,750
No establishment fee on Westpac Equity Access Loan $600 N/A 
No ongoing loan maintenance fees $120 $120 
No monthly service fee on Westpac Choice account (regardless of deposits) $60 $60
No annual fee on Altitude Black credit card $250 $250
Saving $2,780 $2,180
Less Premier Advantage Package fee $395 $395 
  $2,385 $1,785

This example is for illustrative purposes only and assumes the following:

  • The Equity Access Loan is the first Westpac packaged loan taken out
  • Westpac Equity Access Loan interest rate is discounted by 0.7% p.a.
  • Interest only repayments
  • Minimum contracted repayments are made on scheduled repayment dates through the life of the Equity Access Loan
  • No additional repayments made
  • The loan is fully documented.


This example does not include other fees that may be payable on the Equity Access Loan.

Make your payments on time, every time

By making your minimum repayment by the due date you can avoid late payment fees. Set up a direct debit so you never miss a repayment.

Only pay for what you need

Our lowest variable interest rate home loan is the Flexi First Option Home Loan. It offers a range of flexible options, but you only pay for them if you use them.

Ways to pay off your home loan sooner

Save a little more before you buy

If you've started saving you may start looking at buying once you have around 10% of the purchase price. However, if you have less than 20% of the purchase price, you may need to pay Lenders Mortgage Insurance. It may mean waiting a little longer, but if you can save a 20% deposit on your new home, you could avoid paying Lenders Mortgage Insurance.

Pay fortnightly versus monthly

Paying fortnightly means that there are 26 fortnightly repayments each year which adds up to the equivalent of 13 monthly repayments.  That's one extra monthly repayment every year to help you own your home sooner. This could work well if you’re paid fortnightly.

Benefit from extra and lump sum repayments

·        Any extra payments you make will reduce the balance of your loan and the interest charged.  Lump sums such as a tax return, a bonus from work, a gift or an inheritance can help you save on interest and shorten the life of your loan. Even paying a little bit extra on a regular basis can make a difference in the longer term.

·        Rounding up your home loan repayment just a small amount can make a dent on your home loan interest. For example, consider a loan amount of $300,000 at 5% over 25 years. If the monthly repayments of $1754 were rounded up to $2000 per month and continued until the end of the loan term, the loan would be repaid around 5 years early, and the interest owed reduced by around $54,000.

Use a home loan offset account

A Westpac offset account allows you to offset the balance of your eligible transaction account against the balance of your Rocket Repay Home Loan. This means you only have to pay interest on the difference between these account balances, which could save you thousands on interest payments and cut years off the life of your home loan. Our Rocket Repay Home Loan provides you with a 100% offset transaction account linked to your home loan. Every dollar you have in your transaction account saves you interest. To see how you could save with an offset account use our Westpac Home Loan Offset Calculator

Regularly review your home loan

Over time, your personal situation or financial needs may change. It makes sense to review your loan regularly to ensure you're only paying for the features or benefits you actually use or need. We can help to assess your requirements and ensure you’ve got the products and services that are right for you at each stage of your life.

All our home and investment property loan applications are completed with the help of one of our home loan experts, either over the phone or at a branch. Our expert will first listen and discuss your individual needs, then give you the information that will help you choose the right home loan for you.

To get started you can:

  • Fill out an enquiry form and a home loan expert will call you back
  • Call 131 900 and talk to a home loan expert (8am-8pm, 7 days a week)
  • Pop into your local branch and have a chat.

Our home loan experts can give you the information you need to help decide which loan is best for you. They can also help you with your application.

What you’ll need to kick start your application

We’ve put together this checklist (PDF 196KB) of what you’re likely to need when you apply. Having this information ready before you start could help speed up the process.

Standard information

  • Details of monthly expenses (including loans and credit card debts)
  • Lists of assets (what you own) and liabilities (what you owe)
  • Income confirmation (including trusts and investments)
  • Superannuation balances
  • Proof of savings (statements)
  • Property contract of sale (if you’ve chosen a property you’d like to purchase and if available)
  • Identification Checklist for Individual Customers (PDF 768KB)

If you’re a PAYG employee:

  • Your 2 most recent payslips
  • Your most recent payment summary or tax return.

If you’re self-employed:

  • Your business/company tax returns for the last 2 years
  • Your personal tax returns and assessment notices for the last 2 years.

If you’re refinancing:

  • Loan statements for the last 6 months
  • Land title description (if available).

If you’re building a home:

  • Plans, specifications, council approval and builders contract
  • Owner Builder Independent Adviser’s Report (if you’re the builder).
Things you should know

Premier Advantage Package Conditions of Use (PDF 194KB)

Discounts do not apply to internal refinances and are not transferable between loans. Package benefits cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts.

The discount on existing loans within a package is that offered at the time you settled your loan.  Any new packaged loans will have the benefit of the discounts set out above, subject to any conditions apply.

Special offer conditions

Special interest rate discounts are only available:

- On the standard applicable variable rate for Equity Access Loans

 - Which are included in a Premier Advantage Package (Package)

 - Special limited time offer available from 19 September 2016 which may be withdrawn or varied at any time.

To qualify and continue to receive the benefits of the Package you must either hold or are approved for a Westpac Choice transaction account.  Before deciding to acquire a Westpac Choice account, consider whether it is appropriate for you by reading the terms and conditions for this account in our Deposit Accounts for Personal and Self-Managed Superannuation Fund Customers terms and conditions (PDF 1009KB)

Special rate discount applies only to full doc loans and includes the standard package discount of 0.70% p.a. for loans of $250,000 or more and 0.40% p.a. for loans between $150,000 and $249,999.