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Why choose a Rocket Repay variable rate home loan?

Make extra repayments

Get ahead on your loan with no cap on extra repayments and no associated break costs.

Save interest with an offset

Keep funds in an optional offset account to reduce the amount of interest you pay on your loan balance.

Withdraw excess funds

Access funds in your offset or redraw extra repayments if you need cash.

Split your home loan

Split your loan balance into separate fixed rate and variable rate accounts for the best of both worlds.

Get more from your home loan

Unlock benefits and discounts with Westpac Premier Advantage Package

Add our Premier Advantage Package# to your home loan for $395 a year and unlock a range of benefits:

  • Take a 1.29% p.a. discount on Premier Advantage Package# for balances above $150,000.
  • Pay no fees for establishment, maintenance, redraw, top-up, portability or switching repayment type.
  • Pay no annual fee on Westpac credit cards, including the Altitude Black credit card. Other fees and charges may apply.
  • Save up to 10%** on your Westpac Home and/or Contents and Landlord Insurance Premiums.

3.29% p.a. (3.7% p.a. comparison rate*)

Rocket Repay Variable Rate Packaged Home Loan with P&I repayments

Applies to owner occupier home loans with principal and interest repayments and the Premier Advantage Package# ($395 annual package fee applies). Available on loans of $150,000 or more. These rates do not apply to existing Westpac Home loans.

Credit criteria and T&Cs apply.

Key home loan fees

See all fees
Set Up Fees Cost
Establishment fee $600 ($0 with Premier Advantage Package#)
Maintenance fee $8/month ($0 with Premier Advantage Package#)
Home Loan increase fee $400 ($0 with Premier Advantage Package#)
Portability (taking your home loan with you) $300 per move ($0 with Premier Advantage Package#)
Progress draw setup $300

What else can you do with a Westpac Home Loan?

Parental leave

You can apply to reduce your repayments by up to 50% for up to 12 months when you go on parental leave. You may be eligible to apply if you’ve had a Flexi First Option home loan for more than 12 months and have a job to return to once your parental leave ends. Subject to approval, terms, conditions and fees apply. To determine if this feature is right for you, please read more about Parental Leave.

Offset account

Link an interest offset account to your home loan to reduce the interest charged on the loan balance. Pay no credit interest on the balance in the linked transaction account.

Increase your home loan

Apply to access more funds using our "top up / loan increase" facility (no fees apply if you have the Premier Advantage Package#) if you have equity in your loan and need access to extra cash.

An increase in your loan amount will also mean your repayments and interest charges will be higher. Before you apply, consider potential changes to your financial situation in the future and make sure your budget can accommodate higher repayments. Loan increases are subject to formal approval. Read more about loan increases.


What could your loan look like?

Use our home loan calculators to research repayments, borrowing power, stamp duty and more.

Estimate borrowing power

Find out how much you could be able to borrow with a Westpac Home Loan.

Get a sense of repayments

Use our calculator as a guide to what repayments could be on your new home loan.

We can help make each step of your home loan journey simpler.

Ask us to call you

Request a call back from one of our home loan specialists. We’ll be in touch to learn what you need from your loan.

See what you could borrow

Tell us your financial details and we’ll show you how much you could borrow to buy your home.

Go house hunting

Once you get approval in principal, you can start to search for your new home with confidence.

Tell us about your new place

When you’ve found the one, let us know. We’ll evaluate it and confirm all the details with you.3

Settle your loan

Give us your final documents, then sit back – we’ll settle the loan and make sure the funds go where they need to.

Things you should know

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. This information 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 and, if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent advice on any taxation matters.

The above rates exclude any LVR discounts available for new loans. 

#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)


**Home and Contents Insurance: If you are eligible for the Home and Contents combined discount, we will apply the Premier Advantage Package discount to any already discounted premium. Minimum premiums may apply. If you take out a Premier Advantage Package after WGIL has issued you with a Home and Contents Insurance policy then the package benefit will only be applied at your next renewal.

* More on comparison rates: This comparison rate is based on a secured loan of $150,000 over the term of 25 years.  WARNING: The comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

2 While the RP Data property reports are offered to Westpac customers with the permission of RP Data Pty Ltd t/a CoreLogic Asia Pacific ABN 67 087 759 171, Westpac accepts no responsibility for their accuracy or completeness. We recommend you seek independent advice before making a decision based on this information. While CoreLogic uses commercially reasonable efforts to ensure the CoreLogic Data is current, CoreLogic does not warrant the accuracy, currency or completeness of the CoreLogic Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the CoreLogic Data.

3 Valuation is valid for 90 days. Your upfront bank valuation assessment may require further valuation assessment if your property does not fit lending guidelines.