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Home loan repayment options to help manage your cashflow

Unexpected events like job loss or illness can have a huge impact on your income. When that happens, we’re here to help.

If you’re a home owner or property investor, there are several ways you could ease your cashflow.

If you're experiencing financial hardship, find out how Westpac Assist can help.

Remember to consider all the options based on your individual needs and if there's an option that works for you, call us on the Westpac App or on 132 258.


Want to free up some extra cash? Consider reducing your home loan repayments to the minimum amount. You may be eligible if:

  • You have a variable rate home loan.
  • You currently have your repayment option set as ‘Pay more’.

  • Your repayment type is principal and interest.

  • You are currently paying more than the minimum amount on your home loan. 

What you need to know:

  • The duration of the loan (based on your home loan contract) remains the same to ensure your loan is repaid within the original term.
  • You can change your repayment option anytime via the Westpac App, or call 132 032.


You can change the repayment amount and frequency in a few simple steps using Online Banking or the Westpac App.

In the Westpac App

Before trying these instructions make sure you  update to the latest version of the app.  
  1. Search Adjust home loan repayment in the Smart Search bar
  2. Tap the variable loan you want to adjust
  3. Select the repayment option and frequency
  4. Tap Continue

In Online Banking

  1. Select your variable home loan
  2. Select Service > Adjust home loan repayment
  3. Select the variable loan you want to adjust
  4. Select the repayment option and frequency
  5. Select Continue


Your request will be processed within 2 business days. Once approved, your first repayment is scheduled for the starting date listed on the summary.

Any questions, call us on 132 558.

Things you should know

Credit criteria, fees and charges apply. Terms and Conditions available on request.

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.

Reduced loan repayments: 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.