Westpac home loans

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.

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Mark Bristow

Personal Finance Editor

Content updated

01 Aug, 2023

Product data updated

17 Apr, 2024

Why choose Westpac

Benefits

Variety of home loan products to choose from
Loans can be packaged with other financial products
Extensive branch and customer service offering

Drawbacks

Some loans have annual packaging fees
Higher rates for some types of customers

Home Loans calculator

Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.

Your estimated mortgage repayments

at interest rate 5%

Total interest payable

Total loan repayments

Contact a mortgage broker

Westpac homeloans are vailable through brokers who can help find the right loan and manage your application at no charge.

Henry Vong

VIC3128

Customer Representative Number: 546576

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A relationship focussed financier. Started out supporting first home buyers , investors, self employed and bussiness own...

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Julie Davidson

QLD4207

Customer Representative Number: 532412

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Julie is a dedicated mortgage broker at Logan Home Loans, providing tailored home loan solutions to clients. Specialis...

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Andrew Kalogirou

VIC3764

Australian Credit Licence: 393195

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Growing up always wanting to be a high achiever being a leader has always been my goal. In my previous job in which I wa...

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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

How to apply for a Westpac home loan

Customers wanting to apply for a Westpac Home Loan can start their application by giving the bank a call or requesting a call back.

Before applying for a home loan it’s important to consider how much money you can afford to borrow and comfortably repay in your current financial situation.

You will also need to provide documentation when applying for a home loan, including:

Proof of identity
Proof of income and employment details e.g. payslips
Details of household expenses and other debts, including credit cards, personal 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, with options suited to almost every type of mortgage borrower in Australia, including:

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

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

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 always offer the lowest mortgage interest rates on the market, but it can be an attractive option for many Australians because of its extensive branch network and respected reputation.

Westpac home loan rates

Westpac home loan rates tend to be on the higher end of the spectrum, though they’re not generally the highest on the market. Westpac home loan interest rates vary from mortgage to mortgage, and borrowers can choose between fixed, variable, and split rate home loans.

Owner-occupiers are generally offered lower rates than investors, and borrowers who make principal and interest repayments more often get lower rates than those who make interest-only repayments.

Interest rates can also vary between variable rate and fixed rate mortgages, and also with the length of a fixed rate term. 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 fixed term has a higher interest rate than a one-year fixed term.

Westpac home loans review

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

Westpac’s home loans may be suited to 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 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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About our expert

Mark Bristow

Personal Finance Editor

Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. Focused primarily on Australian mortgage and home loan expertise, he has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Westpac home loans

Why choose Westpac

Benefits

Drawbacks

Westpac Home Loans

Home Loans calculator