Westpac is one of the big four banks and as such has a lot to offer borrowers from competitive rates to full-featured products and convenient online access. While Westpac is ideal for some borrowers, such as high net individuals, it relies on its subsidiaries, such as St. George Bank to provide quality options to first-time homebuyers and self-employed borrowers. Westpac has the ability to be choosy in who they approve, which means with a bad credit history or a low deposit, you may not qualify for a home loan.
Low doc loans available
Strict lending policy
Customer service can be mediocre
LMI can be pricey
This variable rate home loan is perfect if your goal is to pay down your mortgage as quickly as possible. You can use an optional offset account to reduce your overall interest, making an already affordable loan that much easier to repay. You’ll also enjoy plenty of options to suit your evolving financial goals with redraw, the ability to make extra repayments, and you can top up your loan if you need to.
This is a competitive home loan for residential investors. On top of the low rate, you can pay down your loan faster with an offset account and unlimited extra repayments. Perfect for investors who plan on building up that rental income, you can take advantage of an interest only repayment period for up to ten years.
If you qualify, this can be a great home loan product. Westpac occasionally offers rate discounts for new customers or fee waivers. You’ll get all the basics that you need to pay down your loan quickly and the peace of mind that comes with flexible features and knowing you’ve got one of the most established banks in Australia on your side. There are no maintenance fees and you can make extra repayments when you want. Westpac also offers their Flexi First product as an investor loan.
Get a stress-free fixed rate loan from Westpac and rest easy with your stable, low fixed rate and all the features you could ask for such as redraw, an interest only option, and you can make extra repayments up to $30,000. Once you have prepaid, you can also take a repayment holiday.
You can package any qualifying loan and save with discounts and fee waivers for the life of your loan. You’ll also enjoy savings on selected insurance products. For larger loans, Westpac also offers substantial interest rate discounts, allowing you to save thousands on your loan with a packaged product. Plus, you’ll still get all the excellent features like redraw, the ability to make extra repayments, and an optional interest only period.