Compare Westpac home loan rates

Find the home loan to best suit your needs. Compare reviews, interest rates, fees and features with Ratecity to make sure you get the right loan.

Westpac is Australia’s first bank and oldest company. Westpac was first founded in 1817 as the Bank of New South Wales and changed its name to Westpac Banking Corporation in 1982.

Westpac is one of Australia’s big four banks and has grown to serve over 13 million customers. It offers a wide range of home loan products, including owner-occupier loans and investor loans, as well as lines of credit and split loans.

Pros:
  • Variety of home loan products to choose from.
  • Loans can be packaged with other financial products.
  • Extensive branch and customer service offering.
Cons:
  • Some loans have annual packaging fees.
  • Higher rates for some types of customers.
Westpac customer service:

Home Loan customers at Westpac can contact the bank by calling the customer service centre 7 days a week. In addition, home loan customers can pop into a local branch or arrange a call back through the online enquiry form.

  • Customer service centre (phone, email, branch)
  • Mobile app
  • Online banking
  • Mobile banking staff

Westpac home loans

Fixed Options Home Loan (Principal and Interest) (New Loans) 5 Years
Advertised rate
4.09%
Fixed - 5 years
Upfront fee
$600.00
Comparison rate*
4.79%
Ongoing fee
$8 monthly
Compare
Fixed Options Home Loan (Principal and Interest) (New Loans) 3 Years
Advertised rate
3.89%
Fixed - 3 years
Upfront fee
$600.00
Comparison rate*
4.82%
Ongoing fee
$8 monthly
Compare
Premier Package Rocket Repay Home Loan (Principal and Interest) ($250k-$500k)
Advertised rate
4.44%
Variable
Upfront fee
$0
Comparison rate*
4.82%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Rocket Repay Home Loan (Principal and Interest) ($250k-$500k)
Advertised rate
4.44%
Variable
Upfront fee
$0
Comparison rate*
4.82%
Ongoing fee
$395 annually
Compare
Fixed Options Home Loan (First Home Buyer Only)SpecialIncludes a 0.4% p.a. discount off the 3 Year Fixed Option Home Loan.
Advertised rate
3.79%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
4.85%
Ongoing fee
$0
Compare
Premier Package Fixed Options Home Loan (Principal and Interest) 3 Years
Advertised rate
3.99%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
4.85%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Options Home Loan (Principal and Interest) 3 Years
Advertised rate
3.99%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
4.85%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Options Home Loan (Principal and Interest) 5 Years
Advertised rate
4.29%
Fixed - 5 years
Upfront fee
$0
Comparison rate*
4.87%
Ongoing fee
$395 annually
Compare
Premier Package Fixed Options Home Loan (Principal and Interest) 5 Years
Advertised rate
4.29%
Fixed - 5 years
Upfront fee
$0
Comparison rate*
4.87%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Options Home Loan (Principal and Interest) 2 Years
Advertised rate
3.89%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
4.88%
Ongoing fee
$395 annually
Compare
Premier Package Fixed Options Home Loan (Principal and Interest) 2 Years
Advertised rate
3.89%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
4.88%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Options Home Loan (Principal and Interest) 4 Years
Advertised rate
4.29%
Fixed - 4 years
Upfront fee
$0
Comparison rate*
4.90%
Ongoing fee
$395 annually
Compare
Premier Package Fixed Options Home Loan (Principal and Interest) 4 Years
Advertised rate
4.29%
Fixed - 4 years
Upfront fee
$0
Comparison rate*
4.90%
Ongoing fee
$395 annually
Compare
Premier Package Fixed Options Home Loan (Principal and Interest) 1 Year
Advertised rate
4.09%
Fixed - 1 year
Upfront fee
$0
Comparison rate*
4.97%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Options Home Loan (Principal and Interest) 1 Year
Advertised rate
4.09%
Fixed - 1 year
Upfront fee
$0
Comparison rate*
4.97%
Ongoing fee
$395 annually
Compare
Fixed Options Home Loan (Principal and Interest) 5 Years
Advertised rate
4.49%
Fixed - 5 years
Upfront fee
$600.00
Comparison rate*
5.06%
Ongoing fee
$8 monthly
Compare
Fixed Options Home Loan (Principal and Interest) 3 Years
Advertised rate
4.19%
Fixed - 3 years
Upfront fee
$600.00
Comparison rate*
5.09%
Ongoing fee
$8 monthly
Compare
Low Doc Fixed Options Home Loan (Principal and Interest) 5 Years (LVR 60%-80%)
Advertised rate
4.49%
Fixed - 5 years
Upfront fee
$600.00
Comparison rate*
5.11%
Ongoing fee
$8 monthly
Compare
Fixed Options Home Loan (Principal and Interest) 4 Years
Advertised rate
4.49%
Fixed - 4 years
Upfront fee
$600.00
Comparison rate*
5.12%
Ongoing fee
$8 monthly
Compare
Low Doc Fixed Options Home Loan (Principal and Interest) 3 Years (LVR 60%-80%)
Advertised rate
4.19%
Fixed - 3 years
Upfront fee
$600.00
Comparison rate*
5.15%
Ongoing fee
$8 monthly
Compare
Fixed Options Home Loan (Principal and Interest) 2 Years
Advertised rate
4.09%
Fixed - 2 years
Upfront fee
$600.00
Comparison rate*
5.16%
Ongoing fee
$8 monthly
Compare
Low Doc Fixed Options Home Loan (Principal and Interest) 4 Years (LVR 60%-80%)
Advertised rate
4.49%
Fixed - 4 years
Upfront fee
$600.00
Comparison rate*
5.17%
Ongoing fee
$8 monthly
Compare
Low Doc Fixed Options Home Loan (Principal and Interest) 2 Years (LVR 60%-80%)
Advertised rate
4.09%
Fixed - 2 years
Upfront fee
$600.00
Comparison rate*
5.23%
Ongoing fee
$8 monthly
Compare
Fixed Rate Investment Loan (Principal and Interest) (New Loans) 5 Years
Advertised rate
4.49%
Fixed - 5 years
Upfront fee
$600.00
Comparison rate*
5.26%
Ongoing fee
$8 monthly
Compare
Fixed Options Home Loan (Principal and Interest) 1 Year
Advertised rate
4.29%
Fixed - 1 year
Upfront fee
$600.00
Comparison rate*
5.28%
Ongoing fee
$8 monthly
Compare
Fixed Rate Investment Loan (Principal and Interest) (New Loans) 3 Years
Advertised rate
4.19%
Fixed - 3 years
Upfront fee
$600.00
Comparison rate*
5.29%
Ongoing fee
$8 monthly
Compare
Premier Package Fixed Rate Investment Loan (Principal and Interest) 3 Years
Advertised rate
4.29%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
5.31%
Ongoing fee
$395 annually
Compare
Fixed Rate Investment Loan (First Home Buyer Only)SpecialIncludes a 0.4% p.a. discount off the 3 Year Fixed Rate Investment Loan.
Advertised rate
4.09%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
5.33%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan (Principal and Interest) (New Loans) 2 Years
Advertised rate
4.05%
Fixed - 2 years
Upfront fee
$600.00
Comparison rate*
5.34%
Ongoing fee
$8 monthly
Compare
Premier Package Low Doc Fixed Rate Investment Loan (Principal and Interest) 3 Years
Advertised rate
4.29%
Fixed - 3 years
Upfront fee
$0
Comparison rate*
5.34%
Ongoing fee
$395 annually
Compare
Low Doc Fixed Options Home Loan (Principal and Interest) 1 Year (LVR 60%-80%)
Advertised rate
4.29%
Fixed - 1 year
Upfront fee
$600.00
Comparison rate*
5.36%
Ongoing fee
$8 monthly
Compare
Premier Package Fixed Rate Investment Loan (Principal and Interest) 2 Years
Advertised rate
4.19%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
5.37%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Rate Investment Loan (Principal and Interest) 2 Years
Advertised rate
4.19%
Fixed - 2 years
Upfront fee
$0
Comparison rate*
5.37%
Ongoing fee
$395 annually
Compare
Premier Package Fixed Rate Investment Loan (Principal and Interest) 1 Year
Advertised rate
4.49%
Fixed - 1 year
Upfront fee
$0
Comparison rate*
5.49%
Ongoing fee
$395 annually
Compare
Premier Package Low Doc Fixed Rate Investment Loan (Principal and Interest) 1 Year
Advertised rate
4.49%
Fixed - 1 year
Upfront fee
$0
Comparison rate*
5.49%
Ongoing fee
$395 annually
Compare
Fixed Rate Investment Loan (Principal and Interest) 3 Years
Advertised rate
4.49%
Fixed - 3 years
Upfront fee
$600.00
Comparison rate*
5.59%
Ongoing fee
$8 monthly
Compare
Fixed Rate Investment Loan (Principal and Interest) 2 Years
Advertised rate
4.39%
Fixed - 2 years
Upfront fee
$600.00
Comparison rate*
5.66%
Ongoing fee
$8 monthly
Compare
Low Doc Fixed Rate Investment Loan (Principal and Interest) 2 Years (LVR 60%-80%)
Advertised rate
4.39%
Fixed - 2 years
Upfront fee
$600.00
Comparison rate*
5.66%
Ongoing fee
$8 monthly
Compare

How to Apply

Customers wanting to apply for a Westpac Home Loan can apply by either requesting a call back or giving the bank a call. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Proof of identity.
  • Proof of income and employment details including payslips.
  • List of income and expenses including credit card loans and car loans.
  • Self-employed borrowers will need the last two years of company and personal tax returns.

About Westpac home loans

Westpac offers a vast range of home loans. Westpac home loans are suited to almost every type of mortgage borrower in Australia:

  • First-time home buyers
  • Upgraders
  • Investors
  • Renovators
  • Refinancers
  • SMSFs (superannuation home loans)
  • Self-employed (low-doc loans)

Borrowers who take out Westpac home loans can choose to pay principal-and-interest or interest-only. Westpac home loans can have variable or fixed interest rates, or customers can choose to split their loan between fixed and variable.

Westpac offers special benefits to customers when they package their home loan and bank account. Borrowers can enjoy interest rate discounts and savings on other Westpac products.

Westpac does not offer the lowest mortgage interest rates on the market, but it can be an attractive option for many Australians because of its strong brand, extensive branch network, and respected reputation.

Westpac home loan rates

Westpac home loan rates tend to be on the higher end of the spectrum. While they’re not generally the highest on the market, they tend to fall between moderate and moderately high.

Westpac home loan interest rates vary from product to product, and borrowers can choose between fixed, variable, and split mortgages.

In general, owner-occupiers are offered a lower rate than investors, and borrowers who pay principal-and-interest get a lower rate than those who pay interest-only.

Interest rates vary between variable and fixed mortgages, and also within their fixed rate mortgages. Westpac home loans can be fixed from one to five years. As a general rule, the interest rate goes up the longer you want to fix, meaning a five-year term has a higher interest rate than a one-year term.

Westpac home loans review

Westpac has a strong reputation for home loans within Australia, which makes it seem like a ‘safe’ choice for many borrowers. Because it is an established brand with millions of customers, a Westpac mortgage can feel like a safe choice in a confusing mortgage market. Plus, Westpac can offer access and convenience to Australian borrowers. Unlike online-only lenders, Westpac has an extensive branch network that operates beyond capital cities.

Westpac’s home loan offering is designed to suit almost any type of borrower. Westpac offers standard loans for first home buyers, renovators, owner-occupiers, and investors, but it also has products for more specialist clients, such as those who are self-employed.

Although Westpac can be a safer and more convenient option when it comes to home loans, it’s not always the most affordable option. Westpac home loan rates tend to be moderate or moderately high.

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