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 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 | 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 (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. First up there's the discounted 2.29% variable rate for the first 2 years which will save you 0.50% p.a. on the standard interest rate, plus there are no loan ongoing fees and a number of useful features. This home loan also picked up a 2021 Mozo Experts Choice Award for Best First Home Buyer Loan.
Westpac is running a discounted introductory offer which gives owner occupier borrowers a 0.50% discount off the normal variable rate. That means, depending on your deposit, you'll be able to snag a variable rate as low as:
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's no one-off service fee, or any ongoing fees to worry about, borrowers will want to remember that there's a $350 discharge fee on the loan.
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.
Just remember that the introductory rate will revert after 2 years, so after that period it may be worth comparing your rate to make sure it stacks up agains tother variable home loan offers.
2.79% p.a.
2.29% p.a.
24 Months
Variable
2.72% 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 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).
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.
2.69% p.a.
2.19% p.a.
24 Months
Variable
2.62% 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 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).
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.
2.79% p.a.
n/a
n/a
n/a
2.80% 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 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).
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.
2.69% p.a.
n/a
n/a
n/a
2.70% 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 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).
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.
3.99% p.a.
n/a
n/a
n/a
4.00% 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.
3.93% p.a.
n/a
n/a
n/a
3.94% 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 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).
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.
3.89% p.a.
n/a
n/a
n/a
3.90% 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.
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.
I like this bank because they provide special customer service representatives who recommend the best bank product for you. We can go to the representative straight away with any financial changes. The down side is customer service representatives changes often that somewhat waters down the level of personalised services we suppose to get.
Read full reviewI like this bank because they provide special customer service representatives who recommend the best bank product for you. We can go to the representative straight away with any financial changes. The down side is customer service representatives changes often that somewhat waters down the level of personalised services we suppose to get.
As Australia's first bank, Westpac has been serving customers since 1817. Westpac merged with St.George to create Australia's largest financial services company, and customers can enjoy from peace of mind from having the security offered by a major bank behind them. Check out Westpac's range of banking products such as savings accounts, home loans, personal loans, credit cards and other financial services such as its car and home and contents insurance.
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2.22% p.a.
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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.
