Buying your next home
Your next move starts with confidence, with flexible home loan options designed to make the journey smoother from start to finish.
Why choose Westpac for your next home?
Discounted variable rates
Get a sweet rate, tailored just for you. Simply book an appointment.
Take your loan with you
Your existing loan could go with you, with no break fee for fixed loans. Conditions apply.
Less hassle, more speed
If your current home loan’s already with us we can streamline your application.
Our lowest online variable rate
Online Offer basic variable rate**
Comparison rate*
I want to...
You could use up to 80% of the equity in your current home to increase (top-up) your home loan. Then, use the extra money to buy your next home.
Why this helps:
- Take your time finding your home
- A bigger deposit can mean no LMI and better rate
- No need for short-term accommodation
- If your first home’s value goes up, your equity increases
Some considerations:
- Bigger loan means bigger repayments
- Borrowing more than 80% of your equity could mean paying LMI
- Two loans could make it harder to borrow again later
- Rent from an investment property might not cover your loan payments.
Helpful things to know when buying your next home
Your repayments and price range
- See how much you could borrow based on your assessable income
- Estimate your repayments based on loan amount, loan term and interest rate
- Check how much you could afford to repay
Our calculators can help you get a clearer idea of what you could afford:
If you're an eligible healthcare, emergency service, core building, or essential trade related professional, you could have 100% of your overtime and allowances assessed as income^.
- Doctors
- Front-line Ambulance Officers and / or front-line Paramedics
- Front-line Fire Officers and / or front-line Fire Fighters
- Front-line Police Officers
- Medical Imaging Professionals
- Medical Specialists
- Midwives
- Nurses
- Occupational Therapists
- Pharmacists
- Physiotherapists
- Surgeons
- Veterinarians
- Aircraft Maintenance Engineers
- Airconditioning and Refrigeration Mechanics
- Automotive Electricians
- Cabinet and Furniture Makers
- Carpenters and Joiners
- Electrical Distribution Trades Workers
- Electricians
- Glaziers
- Metal Fitters and Machinists
- Motor Mechanics
- Panel beaters
- Plumbers
- Surveyors and Spatial Scientists
- Vehicle Painters
Explore what suburbs and properties fit your budget with a free property data report.
How much will you need?
Generally, you'll need at least a 20% deposit (or 80% loan-to-value ratio) when buying a property, and you may need to pay Lenders Mortgage Insurance (LMI).
Some professionals may be eligible for an LMI waiver^^, including:
- Eligible medical practitioners, with a minimum 5% deposit (maximum LVR of 95%),
- Eligible emergency services & healthcare professionals, earning a minimum annual income of $90,000, with a minimum 10% deposit (maximum LVR of 90%).
Eligibility criteria apply.
Support at every stage
Our home loan specialists are here to guide you through each stage of the process. A dedicated home loan specialist will be assigned to your application, ensuring progress is made and addressing any questions you may have, throughout.
Explore our guides on how to buy your next home:
Understanding your loan options
You may select from fixed, variable, or combination loan options. Further, consider whether you prefer a basic loan or one offering additional features, such as an offset facility; which could assist in reducing interest payments.
Our home loan specialists can assist, or use our handy resources and tools to help you decide:
Home buyers’ tip #3
Time-poor or buying in an unfamiliar area? A buyer’s agent could help you find, properties, scope them out, and negotiate on your behalf.
Choose your next step
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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.
+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.
*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.
**Flexi First Option Home Loans and Investment Loans: Life-of-loan discount is available for new Owner Occupier and Investment Property loans. This includes both Principal & Interest and Interest Only repayments. Offer does not apply to product switches. Interest rates are subject to change. Offer may be varied or withdrawn at any time.
Online Offer. Only available for online applications for new Flexi First Option Owner Occupier and Investment loans with Principal & Interest and Interest Only repayments. Rate includes a special life-of-loan discount with a loan-to-value ratio up to 80%. Excludes company and trust borrowers, bridging loans, construction loans and internal refinances within the Westpac Group.
^ PAYG Plus 100% Non-base Income (overtime and allowances): Conditions, credit criteria, eligibility, exclusions, fees and charges apply. Available for eligible healthcare, emergency services, core building and other essential trade related roles as outlined in the details on our website. Not available for office-based emergency services staff, casual employees, self-employed and contractors. To assess the non-base income, income evidence must be with the same employer for a minimum of 6 months. Where this requirement is not met, applications may still be referred for consideration.
^^LMI waiver up to 90% LVR (min 10% deposit) for registered nurses and registered midwives earning a minimum annual income of $90,000. LMI waiver up to 95% LVR (min 5% deposit) may also apply to listed medical practitioners.