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2.29% p.a.^ variable rate (2.72% p.a. comparison rate*)

2-year introductory rate on new Flexi First Option Home Loans

Rate includes a 1.64% p.a. discount for two years from loan settlement date reverting to a 1.14% p.a. discount for the life of the loan^. Applies to new owner occupier home loans with principal and interest repayments. These rates do not apply to existing Westpac Home Loans, internal refinances or switches within the Westpac Group.

Credit criteria and T&Cs apply.

Why refinance with Westpac?

Revise your rate

Refinancing could help you secure a better interest rate. Lock in a lower fixed rate for a set period or split your loan between variable and fixed.

Consolidate debt

Make your short-term debts easier to manage by consolidating credit cards and personal loans into your home loan when you refinance.

Use your equity

Depending on your property value, you may be looking to refinance to access your usable equity for renovations or an investment property.

Get better features

Refinance and get features to suit your lifestyle. Save interest with an offset account, make extra repayments to get ahead and redraw them if you need to.


Get $3k cashback when you refinance to us**

$2k per refinanced property and a bonus $1k for your first application.

Owner Occupier loans (P&I repayments) and Investment loans, with LVR+ up to 80% and min $250k loan per property. Flexi First Option or packaged# home loans only ($395 annual package fee). Apply by 31 January 2021, settle by 31 March 2021. Excludes refinances within Westpac Group.


Applying is simple, get started online
 

Get started online

Apply for a new home loan, conditional approval or switch from another bank. It should only take around 20 minutes to apply.

Learn how much you could borrow

We’ll show you what you could afford to spend on a property and estimated costs involved.

One point of contact

You’ll be assigned a home finance manager who’ll answer all your questions.

Track your progress

Follow your application all the way to settlement and get notifications so you know what’s coming next.


 

Already started an application? Retrieve your application

 


Ready to refinance from another bank?

Use our refinance calculator to see how much you might be able to save in repayments when you switch your home loan from another bank to us.

Calculate now


Things you should know

^Flexi First Option Intro offer: Offer commences 18/09/2020 and may be varied or withdrawn at any time. This offer is only available on new Flexi First Option Home Loans with Principal & Interest repayments. Rate includes a 1.64% p.a. discount off our Flexi First Option Home Loan Variable Rate for two years from the loan settlement date, at the end of the period it will revert to a 1.14% p.a. discount for the remainder of the life of the loan. Excludes internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Interest rate is subject to change.

 

^^Fixed rate home loan: Interest rate(s) displayed is for Australian Residents only. The Bank will apply the fixed rate that is available at the loan settlement date. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan interest rate unless a new fixed rate term is selected and then the fixed rate is determined two business days prior to the refix. Fixed rates are also available to existing variable rate home loan customers looking to fix all or part of their loan.

 

*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.

 

**$3k refinance cashback offer: Credit criteria, fees and charges apply. Terms and conditions available at Westpac. $2000 Refinance Cashback per property for new refinance applications received between 23 September 2019 to 31 January 2021 and settle by 31 March 2021. Offer current as at 23 September 2019. Only 1 cashback per property refinance will be paid regardless of the number of loans involved. One $1,000 Bonus Refinance Cashback for a new refinance application submitted between 18 September 2020 to 31 January 2021 and settle by 31 March 2021 with maximum LVR of 80%. Offer current as at 18 September 2020. Only 1 bonus cashback will be paid regardless of the numbers of customers, properties or applications involved. Offers available for Owner Occupier with Principal & Interest repayments and Investment Loans. Offers available on the Premier Advantage Package and Flexi First Option Home Loans. Offers may be varied or withdrawn at any time. $250K min loan per property refinanced applies for the $2000 and $1000 bonus Refinance Cashback. Excludes Portfolio Loans, switches and refinances of home loans within the Westpac Group which include St.George, Westpac, Bank of Melbourne, BankSA and RAMS. Offer not available for Owner Occupier Interest Only loans or residential lending originated under family or company trusts. The cashback(s) will be paid into a Westpac Choice transaction account within 60 days of settlement. The transaction account must be linked to the home loan at the time of settlement, and kept open for 60 days after settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters. 

 

+LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the banks 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 don’t change because of changes to the LVR during the life of the loan. 

 

#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 1MB)

 

*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.

*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.