The details shown below are for an owner occupier taking out a principal & interest loan of at least $25,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $25,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a interest only loan of at least $25,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $25,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan of at least $25,000 with an LVR below 70%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
|
|
Owner Occupier | Principal & Interest | 70%-95% | $25,000 | |
|
|
Owner Occupier | Principal & Interest | < 70% | $25,000 | |
|
|
Owner Occupier | Interest Only | 70%-80% | $25,000 | |
|
|
Owner Occupier | Principal & Interest | < 95% | $25,000 | |
|
|
Owner Occupier | Interest Only | < 70% | $25,000 |
Owner Occupier (Principal & Interest)
LVR 70%-95%
Loan: $25,000
Owner Occupier (Principal & Interest)
LVR < 70%
Loan: $25,000
Owner Occupier (Interest Only)
LVR 70%-80%
Loan: $25,000
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $25,000
Owner Occupier (Interest Only)
LVR < 70%
Loan: $25,000
If you're an owner occupier looking for a home loan with a major bank, it's hard to look past some of the features available with the Flexi First Option Home Loan from Westpac. This home loan also picked up a 2022 Mozo Experts Choice Home Loan Award in the First Home Buyer Loan category.
Westpac offers a low starting rate of 3.24% p.a. (3.58% p.a. comparison rate*) which is pretty great as far home loan rates go. Just bear in mind that while you will be able to borrow up to 95% of the property value with the Westpac Flexi First Option Home Loan, borrowers with an LVR over 80% may be required to take out lenders mortgage insurance.
As the name suggests, the Flexi First Option is also about giving borrowers a bit of extra flexibility. You'll be able to make repayments on a schedule which suits your pay cycle (with weekly, fortnightly and monthly options available), plus you can make extra repayments at any time and there's a redraw facility at hand should you need to dip into them.
And while there are no one-off fees borrowers should remember that there's an $8 loan account fee, which is charged monthly, and a $350 loan discharge fee.
The Flexi First Option Home Loan could be a good match for owner occupier borrowers who are looking for a basic home loan from a major bank which has a number of flexible features available.
There’s no offset account attached to the loan, which may be an essential feature for many borrowers.
|
3.64% p.a. |
|
|
3.24% p.a. |
|
|
24 Months |
|
|
Variable |
|
|
3.58% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$350.00 |
|
$25,000 |
|
|
none |
|
|
70.00% |
|
|
95.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
none |
|
|
yes |
|
|
no |
|
|
none |
|
|
none |
|
|
Receive $2,000 refinance cashback, min $250k loan and LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group), apply by 31 October 2022 and settle by 31 January 2023. |
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.
|
3.54% p.a. |
|
|
3.14% p.a. |
|
|
24 Months |
|
|
Variable |
|
|
3.48% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$350.00 |
|
$25,000 |
|
|
none |
|
|
none |
|
|
70.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
none |
|
|
yes |
|
|
no |
|
|
none |
|
|
none |
|
|
Receive $2,000 refinance cashback, min $250k loan and LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group), apply by 31 October 2022 and settle by 31 January 2023. |
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.
|
5.24% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
5.25% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$350.00 |
|
$25,000 |
|
|
none |
|
|
70.00% |
|
|
80.00% |
|
Owner Occupier |
|
|
Interest Only |
|
|
Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
none |
|
|
yes |
|
|
no |
|
|
none |
|
|
none |
|
|
none |
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.
|
5.23% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
5.24% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$350.00 |
|
$25,000 |
|
|
none |
|
|
none |
|
|
95.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
none |
|
|
yes |
|
|
no |
|
|
none |
|
|
none |
|
|
Receive $2,000 refinance cashback, min $250k loan and LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group), apply by 31 October 2022 and settle by 31 January 2023. |
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.
|
5.14% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
5.15% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$350.00 |
|
$25,000 |
|
|
none |
|
|
none |
|
|
70.00% |
|
Owner Occupier |
|
|
Interest Only |
|
|
Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
none |
|
|
yes |
|
|
no |
|
|
none |
|
|
none |
|
|
none |
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.
Westpac offer very competitive rates. Staff at local branch’s are always friendly and helpful. If they can’t help you right then and there, they will provide you with a phone number to call or get someone to reach out to you. In my experience the branch staff always go above and beyond. I have had issues with my direct debit recently, but after a quick phone call they were able to set everything back to normal.
Read full reviewWestpac offer very competitive rates. Staff at local branch’s are always friendly and helpful. If they can’t help you right then and there, they will provide you with a phone number to call or get someone to reach out to you. In my experience the branch staff always go above and beyond. I have had issues with my direct debit recently, but after a quick phone call they were able to set everything back to normal.
Our local branch staff were utterly incredible, keeping me in the loop every step of the way. The loan was processed in a timely fashion. Their head office processing centre mucked them around twice, which was annoying. The way the girls handled the issues was exemplary. Post loan follow up was incredible too. I really felt like I was more than just a number.
Read full reviewOur local branch staff were utterly incredible, keeping me in the loop every step of the way. The loan was processed in a timely fashion. Their head office processing centre mucked them around twice, which was annoying. The way the girls handled the issues was exemplary. Post loan follow up was incredible too. I really felt like I was more than just a number.
I have found them to offer good suitable accounts that suit me and the staff are very helpful.
Read full reviewI have found them to offer good suitable accounts that suit me and the staff are very helpful.
Westpac have been very easy to deal with and the interest rates are good.
Read full reviewWestpac have been very easy to deal with and the interest rates are good.
They only get you a better deal when you ask.
Read full reviewThey only get you a better deal when you ask.
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3.60% p.a.variable for 24 months and then 4.00% p.a. variable
3.96% p.a.
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3.60% p.a.variable for 24 months and then 4.00% p.a. variable
3.96% p.a.
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3.74% p.a.variable for 12 months and then 4.23% p.a. variable
4.22% p.a.
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3.60% p.a.variable for 24 months and then 4.00% p.a.
3.96% p.a.
Qudos Bank
No Frills Home Loan
2.99% p.a.
2.99% p.a.
$0.00
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.
