Westpac Rocket Repay Home Loan (Premier Advantage Package)
This product is available in different versions. Pick the right version for you here.
The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 80%
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% | $150,000 | |
| | Owner Occupier | Principal & Interest | < 70% | $150,000 | |
| | Owner Occupier | Interest Only | < 70% | $150,000 | |
| | Owner Occupier | Interest Only | 70%-80% | $150,000 |
-
Owner Occupier (Principal & Interest)
LVR 70%-95%
Loan: $150,000
-
Owner Occupier (Principal & Interest)
LVR < 70%
Loan: $150,000
-
Owner Occupier (Interest Only)
LVR < 70%
Loan: $150,000
-
Owner Occupier (Interest Only)
LVR 70%-80%
Loan: $150,000
3.54% p.a.
3.95% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
3.54% p.a.
3.95% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
3.54% p.a.
3.95% p.a.
$395.00 yearly
3.44% p.a.
3.85% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
3.44% p.a.
3.85% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
3.44% p.a.
3.85% p.a.
$395.00 yearly
4.03% p.a.
4.43% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
4.03% p.a.
4.43% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
4.03% p.a.
4.43% p.a.
$395.00 yearly
4.13% p.a.
4.53% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
4.13% p.a.
4.53% p.a.
$395.00 yearly
Westpac Rocket Repay Home Loan (Premier Advantage Package)
4.13% p.a.
4.53% p.a.
$395.00 yearly
Mozo Review Westpac Rocket Repay Home Loan (Premier Advantage Package) Review
Last updated: 16 October 2019.
What's hot:
100% offset account
Free extra repayments and redraw facility
Borrow with as little as 5% deposit
Up to $2,000 cashback (limited time offer)
What's not:
$395 annual service fee
Mozo snapshot:
As the name suggests, this really is a premier home loan package. Offering a 100% offset account, as well as free extra repayments and redraws, the Westpac Rocket Repay Home Loan (Premier Advantage Package) really does deliver all the perks of a full-feature loan. Prospective homeowners will also be able to borrow with as little as a 5% deposit, meaning it could be a handy option for first home owners.
And the benefits don’t stop there. New to Westpac customers who refinance a home with the Premier Advantage Package may be eligible for $2,000 cashback with a loan of at least $250,000 before November 30 2019.
Key features:
Available to owner-occupiers, the Rocket Repay Home Loan (Premier Advantage Package) from Westpac offers a 3.54% variable interest rate (3.94% comparison rate*) for all loan amounts over $150k for an owner occupier making principal and interest repayments. Borrowers will be able to borrow with a deposit as low as 5% (thought that may require Lender’s Mortgage Insurance) while interest-only borrowers will need a deposit of at least 20% to secure a loan.
But the Rocket Repay Home Loan (Premier Advantage Package) really stands out when it comes to its range of features. Not only will borrowers be able to cut down on the interest they pay with the help of a 100% offset account, they’ll also be able to make extra repayments towards the loan - for free!
Speaking of extra repayments, if you are able to pay down more than you need to on your loan then you’ll be able to withdraw those additional funds with the free redraw facility, or use them to take a partial or full repayment holiday.
What about fees you ask? Well you won’t need to pay any application, legal, settlement or valuation fees on the loan, though you will need to budget for the $395 annual service fee as well as the $350 discharge fee you’ll be charged when you pay out your mortgage in full.
And premier home loan package wouldn’t be complete without a few extra perks. Rocket Repay Home Loan (Premier Advantage Package) customers will also be eligible for a number of discounts and fee-waivers on select Westpac credit cards, bank accounts and insurance products.
Who it's good for:
The Westpac Rocket Repay Home Loan (Premier Advantage Package) could be a great choice for borrowers who can take advantage of an offset account and all the other perks of a full-feature home loan, as well as the other banking and insurance discounts on offer.
Any catches?
Given that the yearly service fee ($395) will add up to $9,875 over a 25 year loan, it’s certainly worth weighing it up against the suite of features on offer.
Details
Rates and fees information correct as at 8 December 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
3.54% p.a.
-
n/a
-
n/a
-
n/a
-
3.95% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$395.00 yearly
-
$350.00
Other financial bits
-
$150,000
-
none
-
70.00%
-
95.00%
Features
-
Owner Occupier
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
yes
-
yes - free
-
none
-
yes
-
yes
-
none
-
Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.
-
$2,000 cashback on new customer home refinance over $250,000 for applications before 31 January 2020.
Details
Rates and fees information correct as at 8 December 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
3.44% p.a.
-
n/a
-
n/a
-
n/a
-
3.85% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$395.00 yearly
-
$350.00
Other financial bits
-
$150,000
-
none
-
none
-
70.00%
Features
-
Owner Occupier
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
yes
-
yes - free
-
none
-
yes
-
yes
-
none
-
Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.
-
$2,000 cashback on new customer home refinance over $250,000 for applications before 31 January 2020.
Details
Rates and fees information correct as at 8 December 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
4.03% p.a.
-
n/a
-
n/a
-
n/a
-
4.43% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$395.00 yearly
-
$350.00
Other financial bits
-
$150,000
-
none
-
none
-
70.00%
Features
-
Owner Occupier
-
Interest Only
-
Monthly
-
yes - free
-
yes
-
yes - free
-
none
-
yes
-
yes
-
none
-
Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.
-
none
Details
Rates and fees information correct as at 8 December 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
4.13% p.a.
-
n/a
-
n/a
-
n/a
-
4.53% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$395.00 yearly
-
$350.00
Other financial bits
-
$150,000
-
none
-
70.00%
-
80.00%
Features
-
Owner Occupier
-
Interest Only
-
Monthly
-
yes - free
-
yes
-
yes - free
-
none
-
yes
-
yes
-
none
-
Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.
-
none
Customer Reviews
How are Westpac home loans rated by the Mozo community?
Latest reviews of Westpac Rocket Repay Home Loan (Premier Advantage Package)
- Overall9/10
Staying with Westpac as we feel that they are ok.
We have been with Westpac for many years, their staff are always very helpful. They have removed...
Read full review
We have been with Westpac for many years, their staff are always very helpful. They have removed the ATM from our local shopping mall but we can still get money out from Coles which is a much safer way than an ATM. The ATM was about 20 metres from Coles but I always used Coles as I felt it was safer.
Price9/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Wayne | Western Australia
reviewed 6 days ago
- Overall1/10
Inflexible
We have paid the mortgage down very quickly and only have a small balance remaining. The terms...
Read full review
We have paid the mortgage down very quickly and only have a small balance remaining. The terms and conditions of this product no longer suit our needs and we have tried to re-negotiate the terms, but Westpac have been very inflexible despite our good payment history.
Price1/10Features2/10Customer service2/10Convenience4/10Trust2/10Less
Cathy | New South Wales
reviewed about 2 months ago
- Overall9/10
Great customer service
Easy to reach and talk to a bank branch manager or business banker. Quick response to email...
Read full review
Easy to reach and talk to a bank branch manager or business banker. Quick response to email inquiries and well set up electronic banking platforms.
Price8/10Features9/10Customer service9/10Convenience9/10Trust9/10Less
Neville | Queensland
reviewed almost 2 years ago
- Overall10/10
Saves thousands on interest costs
The premier advantage package is a real money saver on interest costs. Flexible loan options with...
Read full review
The premier advantage package is a real money saver on interest costs. Flexible loan options with easy redraw on additional funds you can pay in without penalty.
Price10/10Features-Customer service-Convenience-Trust-Less
Kerralie | Australian Capital Territory
reviewed over 2 years ago
- Overall10/10
Westpac is awesome
Happy to bank with Westpac
Read full review
Happy to bank with Westpac
Price10/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Nathan | Queensland
reviewed almost 4 years ago
About Westpac
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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