Your selected home loans
Your selected home loans
Interest rates on variable home loan are too high!
Westpac in my opinion doesn't care about their customers. There is no proactive service ie they are happy to leave you on a higher rate even when the market has moved. You have to beg them for help.
Great !!! I might need to borrow money for buying a home
breaches agreements, not customer focussed, treats like Sh***. Over priced and unprofesshional.
Home loan interest rate is reasonably low. Loan account allows for redraw facility and an off-set account.
A mortgage broker helped us secure a good interest rate. When compared with ANZ and National they had the best rate. In general banking, it can be a bit of a wait time if you want to talk to someone, but the Lismore branch is friendly and helpful. Westpac have resolved some disputed transactions for us. The new 2024 app is clunky compared to the old one. The homeloan package deal, ie no hidden fees is good too.
Excellent service
We have a decent experience, good service and less account fees than commonwealth
These people are merciless. They have no care of concern for their customers. They also have no interest in helping or negotiating with you if you have less than a 1 million dollar loan with them. With a mortgage of $475K, I was told that I was an "easy loss" for the bank.
Slow reaction to illegal payments from your account. In one instance disregarded an illegal payment from my account after being notified.
Westpac says customers could get conditional approval – importantly, not a guaranteed approval – in as little as one business day. However, unconditional home loan approval usually takes between four to six weeks for most lenders. So, it’s important to budget your time accordingly, even with a Big Four bank like Westpac.
Westpac offers 90-day pre-approval to help you work out how much you might be able to borrow from them. It’s also free to get pre-approved through Westpac, which is a bonus.
If you’re facing financial hardship, you may be eligible to pause the repayments on your Westpac home loan. However, this feature is only really available to those who have made additional repayments and are ahead of schedule on their loans. How long you can pause your repayments for is dependent on how much extra you’ve contributed to your home loan already.
Other eligibility requirements include:
If you pause your Westpac home loan, interest will continue to accrue. When you take your loan off pause, you’ll notice your repayments have increased to account for the extra interest and to ensure you pay off your loan by the end of the agreed-upon term.
Westpac only offers offset accounts on its variable rate Rocket Repay home loan for borrowers on principal and interest repayments.
Using an offset account is free if you pay the annual fee for the Rocket Repay Package, but those who get the non-packaged version will pay a monthly fee to make use of it.
* WARNING: This 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. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
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