Westpac Rocket Repay Home Loan (Premier Advantage Package)

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $249,999 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $499,999 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan between $500,000 and $749,999 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $750,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $249,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $250,000 and $499,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $500,000 and $749,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan of at least $750,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $150,000 $249,999

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $250,000 $499,999

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $500,000 $749,999

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $750,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $150,000 $249,999

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $250,000 $499,999

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $500,000 $749,999

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $750,000

4.78% p.a.

5.16% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

4.78% p.a.

5.16% p.a.

$395.00 yearly

4.58% p.a.

4.97% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

4.58% p.a.

4.97% p.a.

$395.00 yearly

4.53% p.a.

4.92% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

4.53% p.a.

4.92% p.a.

$395.00 yearly

4.48% p.a.

4.87% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

4.48% p.a.

4.87% p.a.

$395.00 yearly

5.37% p.a.

5.74% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

5.37% p.a.

5.74% p.a.

$395.00 yearly

5.17% p.a.

5.55% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

5.17% p.a.

5.55% p.a.

$395.00 yearly

5.12% p.a.

5.50% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

5.12% p.a.

5.50% p.a.

$395.00 yearly

5.07% p.a.

5.45% p.a.

$395.00 yearly

Westpac Rocket Repay Home Loan (Premier Advantage Package)

5.07% p.a.

5.45% p.a.

$395.00 yearly

Mozo Review   Westpac Rocket Repay Home Loan (Premier Advantage Package) Review

Last updated: 10 April 2019.

What's hot:
  • 100% offset account

  • Free extra repayments and redraw facility

  • Borrow with as little as 5% deposit

  • Up to $1,000 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. Borrowers who buy a home with the Premier Advantage Package may be eligible for $1,000 cashback with a loan of at least $250,000 before June 30 2019.

Key features:

Available to owner-occupiers, the Rocket Repay Home Loan (Premier Advantage Package) from Westpac offers a variety of principal and interest and interest-only variable rates starting from 4.48% (4.87% comparison rate*). These rates are tiered based on the size of your mortgage, and principal and interest 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 27 May 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
  • 4.78% p.a.

  • n/a

  • 0 Months

  • none

  • 5.16% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $150,000

  • $249,999

  • none

  • 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. $1,000 cashback on home purchase under the Premier Advantage Package before 30 June 2019.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 4.58% p.a.

  • n/a

  • 0 Months

  • none

  • 4.97% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $250,000

  • $499,999

  • none

  • 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. $1,000 cashback on home purchase under the Premier Advantage Package before 30 June 2019.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 4.53% p.a.

  • n/a

  • 0 Months

  • none

  • 4.92% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $500,000

  • $749,999

  • none

  • 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. $1,000 cashback on home purchase under the Premier Advantage Package before 30 June 2019.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 4.48% p.a.

  • n/a

  • 0 Months

  • none

  • 4.87% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $750,000

  • none

  • none

  • 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. $1,000 cashback on home purchase under the Premier Advantage Package before 30 June 2019.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 5.37% p.a.

  • n/a

  • 0 Months

  • none

  • 5.74% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $150,000

  • $249,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • none

  • yes

  • yes

  • none

  • Package benefits include no monthly fees on a Choice transaction account, fee waivers on selected credit cards and discounted insurance products.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 5.17% p.a.

  • n/a

  • 0 Months

  • none

  • 5.55% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $250,000

  • $499,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • none

  • yes

  • yes

  • none

  • Package benefits include no monthly fees on a Choice transaction account, fee waivers on selected credit cards and discounted insurance products.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 5.12% p.a.

  • n/a

  • 0 Months

  • none

  • 5.50% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $500,000

  • $749,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • none

  • yes

  • yes

  • none

  • Package benefits include no monthly fees on a Choice transaction account, fee waivers on selected credit cards and discounted insurance products.

*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.

Details

Rates and fees information correct as at 27 May 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
  • 5.07% p.a.

  • n/a

  • 0 Months

  • none

  • 5.45% 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

  • none

  • $395.00 yearly

  • $350.00

Other financial bits
  • $750,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • none

  • yes

  • yes

  • none

  • Package benefits include no monthly fees on a Choice transaction account, fee waivers on selected credit cards and discounted insurance products.

*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.

Customer Reviews

How are Westpac home loans rated by the Mozo community?

Overall customer rating
6.7/10
Price
6.2/10
Features
6.5/10
Customer service
6.9/10
Convenience
7.6/10
Trust
6.6/10

Latest reviews of Westpac Rocket Repay Home Loan (Premier Advantage Package)

  • Overall
    9/10
    Great customer service

    Easy to reach and talk to a bank branch manager or business banker. Quick response to email...

    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.

    Price
    8/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10

    Neville | Queensland

    reviewed over 1 year ago

  • Overall
    10/10
    Saves thousands on interest costs

    The premier advantage package is a real money saver on interest costs. Flexible loan options with...

    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.

    Price
    10/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -

    Kerralie | Australian Capital Territory

    reviewed almost 2 years ago

  • Overall
    10/10
    Westpac is awesome

    Happy to bank with Westpac

    Happy to bank with Westpac

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Nathan | Queensland

    reviewed over 3 years ago

  • Overall
    7/10
    Good saving option

    Good option to try reduce overall interest rates

    Good option to try reduce overall interest rates

    Price
    6/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    7/10

    Jim | Victoria

    reviewed over 3 years ago

  • Overall
    2/10
    Does not look after customers best interests.

    The product itself is good however the annual fee is unnecessary. Especially when they pay...

    The product itself is good however the annual fee is unnecessary. Especially when they pay brokers huge trailing commissions. Maybe they could cut broker frees and pass savings into the customer. Furthermore, Westpac loan managers continually try to sell their customers more products. This is more important to them than addressing the concerns of their customers.

    Price
    0/10
    Features
    9/10
    Customer service
    0/10
    Convenience
    8/10
    Trust
    2/10

    Rachael | Queensland

    reviewed over 3 years ago

Westpac

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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*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.