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
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.
Available to owner-occupiers, the Rocket Repay Home Loan (Premier Advantage Package) from Westpac offers a 3.29% variable interest rate (3.70% 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.
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.
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.
3.29% p.a.
n/a
n/a
n/a
3.71% 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
$395.00 yearly
$350.00
$150,000
none
70.00%
95.00%
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.
Receive $2,000 cashback per property when you refinance a property with a Flexi First Option loan or a Premier Advantage Package with a minimum loan size of $250,000 (excludes refinances from Westpac Group).
3.19% p.a.
n/a
n/a
n/a
3.61% 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
$395.00 yearly
$350.00
$150,000
none
none
70.00%
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.
Receive $2,000 cashback per property when you refinance a property with a Flexi First Option loan or a Premier Advantage Package with a minimum loan size of $250,000 (excludes refinances from Westpac Group).
3.78% p.a.
n/a
n/a
n/a
4.19% 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
$395.00 yearly
$350.00
$150,000
none
none
70.00%
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.
Receive $2,000 cashback per property when you refinance a property with a Flexi First Option loan or a Premier Advantage Package with a minimum loan size of $250,000 (excludes refinances from Westpac Group).
3.88% p.a.
n/a
n/a
n/a
4.28% 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
$395.00 yearly
$350.00
$150,000
none
70.00%
80.00%
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
Often with pay television, electricity and other services you need to ring up regularly and threaten to leave in order to get the best deal. What I love about Westpac is they regularly ring me to offer a better deal than what's advertised. This rewards loyalty and is good business.
Read full reviewOften with pay television, electricity and other services you need to ring up regularly and threaten to leave in order to get the best deal. What I love about Westpac is they regularly ring me to offer a better deal than what's advertised. This rewards loyalty and is good business.
Overall a well packaged home loan offering 100% offset account, competitive rates and free redraw available. The only negative is the annual fee of $395.
Read full reviewOverall a well packaged home loan offering 100% offset account, competitive rates and free redraw available. The only negative is the annual fee of $395.
Long pre-approval times, but online platform is pretty easy to work with.
Read full reviewLong pre-approval times, but online platform is pretty easy to work with.
Need more communication about new products.
Read full reviewNeed more communication about new products.
They were the only bank to support me as an owner builder so I have stuck with them since. The offset homeloan is a good way to save. Service has been great, no issues, and the online/mobile app banking works well.
Read full reviewThey were the only bank to support me as an owner builder so I have stuck with them since. The offset homeloan is a good way to save. Service has been great, no issues, and the online/mobile app banking works well.
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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