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Westpac

Basic Variable Rate (Flexi First Option) Home Loan

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Cashback

Refinance and get $3,000 cashback for new Owner Occupier and Investment Loans. Apply by 30 November 2021 and settle by 28th February 2022. Terms and Conditions apply.*

*$3,000 Refinance cashback for Owner Occupier (Principal & Interest) and Investment Property Loans, LVR less than 90%. Minimum loan amount $250k. Excludes refinances from within Westpac Group. Only one $3K cashback offer available per primary applicant within a 12 month period. Available on Premier Advantage Package, with a $395 annual package fee and Flexi First Option Home Loans. Credit criteria, fees, charges, eligibility criteria and exclusions apply.

announcement

RateCity Says: Refinance and get $3,000 cashback for new investment and owner-occupier loans. Terms apply.

Awards

Winner of Best Small Deposit Home Loan, RateCity Gold Awards 2021

Advertised Rate

2.09

% p.a

Intro 24 months

Comparison Rate*

2.52

% p.a

Maximum LVR
95%
Real Time Rating™

4.08

/ 5
Monthly Repayment

$1,586

based on $350,000 loan amount for 25 years at 2.09%

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Advertised Rate

2.09

% p.a

Intro 24 months

Comparison Rate*

2.52

% p.a

Maximum LVR
95%
Real Time Rating™

4.08

/ 5
Monthly Repayment

$1,586

based on $350,000 loan amount for 25 years at 2.09%

Go to site
View Now

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,586

based on $350,000 loan amount for 25 years at 2.09%

Quick home loan review

For Basic Variable Rate (Flexi First Option) Home Loan (LVR 70%-95%) (New Customer)

These are the benefits of this home loan.

  • Lower than average interest rate
  • No upfront or ongoing fees
  • Suitable for low deposits
  • Parents can sign as guarantor
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option
  • Features on 2021 RateCity Awards

These are the drawbacks of this home loan.

  • No offset account
  • Loan reverts to higher rate after introductory period
  • Discharge fee at end of loan

Home loan overview

For Basic Variable Rate (Flexi First Option) Home Loan (LVR 70%-95%) (New Customer)

TMD

Details

Maximum LVR

95%

Total Repayments

Next LVR

Interest rate type

Variable

Borrowing range

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

0

Application fee

0

Valuation fee

At Cost

Settlement fee

0

Other upfront fee

0

Ongoing fee

$0 monthly

Discharge fee

350

Application method

Online

Phone

Broker

In branch

Specials
  • Cashback Refinance and get $3,000 cashback for new Owner Occupier and Investment Loans. Apply by 30 November 2021 and settle by 28th February 2022. Terms and Conditions apply.*
    *$3,000 Refinance cashback for Owner Occupier (Principal & Interest) and Investment Property Loans, LVR less than 90%. Minimum loan amount $250k. Excludes refinances from within Westpac Group. Only one $3K cashback offer available per primary applicant within a 12 month period. Available on Premier Advantage Package, with a $395 annual package fee and Flexi First Option Home Loans. Credit criteria, fees, charges, eligibility criteria and exclusions apply.

Target Market Determination

Visit Westpac to view Target Market Determination.

Other Benefits

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.

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $25k to $99,999,999.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 95 percent, which means it requires a minimum deposit of 5 percent

What's the maximum length for this loan?

Westpac allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Westpac allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $0 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $0 if you need to use it.

How do you apply for this loan?

To apply for this loan, please contact Westpac.

Can a broker help me with this loan?

Yes, this Westpac loan is available through a broker. Find a broker to help you with your needs.