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
• 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 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 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.