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Home Loan Variable: 5.20% (5.24%*) • Home Loan Fixed: 5.48% (6.24%*) • Fixed: 5.48% (6.24%*) • Variable: 5.20% (5.24%*) • Investment IO: 5.78% (6.81%*) • Investment PI: 5.58% (6.62%*)

  Flexi First : Basic Variable Home Loan (Owner Occupied)

Flexi First Option is a basic home loan with a low variable rate, no loan account fee and no lending establishment fee with Principal & Interest repayments.
Category: Home Loans  Last Updated June 3, 2024  Effective June 3, 2024

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information The rates include our 0.10% p.a. discount for LVRs+ up to 70%. Special offer rate includes a 1.74% p.a. discount for 2 years from loan settlement date reverting to a 1.34% p.a. discount for the life of the loan. Excludes internal refinances within Westpac Group. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusive of any capitalised mortgaged insurance (MI) premium (if available). For Government's home guarantee scheme-backed loans, maximum LVR may differ.
Interest Rate
6.84% PA
Comparison Rate
6.84%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  LVR up to 70%
  • Lending Rate Type: Variable
  • Interest Rate: 6.84%, Comparison Rate 6.84%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR above 70% to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Introductory
  • Interest Rate: 6.54%, Comparison Rate 6.86%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR above 70% to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.94%, Comparison Rate 6.94%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR above 80%
Minimum: 80.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Introductory
  • Interest Rate: 6.84%, Comparison Rate 7.16%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR above 80%
Minimum: 80.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.24%, Comparison Rate 7.24%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR up to 70%
  • Lending Rate Type: Introductory
  • Interest Rate: 8.14%, Comparison Rate 8.14%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  LVR above 70% to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 8.24%, Comparison Rate 8.24%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied

 Product Features

  • Redraw Additional Information: Make unlimited repayments and redraw : Repay and redraw on your loan when it suits you, with no fee
  • Other Additional Information: Reduced repayments while on parental leave : Reduce your repayments by up to 50% for up to 12 months while on parental leave (subject to approval).
  • Other Additional Information: You can apply to increase your home loan using our top up / loan increase feature to pay for things like renovations, home improvements or even a holiday. (fees apply).
  • Other Additional Information: Save on fees : You won't pay any lending establishment or loan account fees.
  • Digital Banking
  • Other Additional Information: Our lowest variable rate : Get a low rate with lots of loan flexibility.
  • Other Additional Information: Repayment frequencies includes weekly, fortnightly or monthly
  • Other Additional Information: Substituting a security : You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable requirements that we have, such as repaying part of the loan amount. We will require the new mortgage to be provided at the same time that the existing mortgage is discharged. We charge a fee for substituting a mortgage or other security.
  • Other Additional Information: Statements of account : We will send you a statement of your loan account at least every six months or more frequently if you request
  • Other Additional Information: Total loan term is up to 30 years
  • Other Additional Information: Loan Split: Split with a fixed interest rate loan
  • Other Additional Information: Building Loan Feature: A specialised lending option that is available on selected Westpac loan products. Allows the customer to progressively draw down what is needed to cover the build of their residential property over the construction period.
  • Extra Repayments Additional Information: The product includes extra repayment features.
  • Fraud Protection Additional Information: The product includes fraud protection features.
  • Guarantor Additional Information: Subject to terms and conditions, this product includes guarantor features.
  • Relationship Management Additional Information: Relationship management is available for eligible customers.

 Product Eligibility

  • Min Age - 18. Additional Information: 18+ years old
  • Residency Status - Those With An Australian Permanent Residency And Who Are Currently In Australia.
  • Natural Person
  • Other Additional Information: Available to personal customers only.

 Bank Fees and Charges

  • Lending Establishment Fee (Upfront), Amount: 0.00.
  • Bank Cheque Issuance Fee (Event), Amount: 10.00. Additional Information: $10 per cheque (1st cheque is free)
  • Loan Account Fee (Periodic), Amount: 0.00.
  • Missed Payment Fee (Event), Amount: 15.00.
  • Document Processing Fee (Event), Amount: 150.00.
  • Default Notice Fee (Event), Amount: 85.00.
  • Account Overdrawn Fee (Event), Amount: 15.00.
  • Loan Discharge Fee (Event), Amount: 350.00.
  • Lenders Mortgage Insurance Premium (Variable), Amount: Not Listed.. Additional Information: If your deposit is less than 20% then Lenders Mortgage Insurance is usually required. There may be other circumstances where Lenders Mortgage Insurance is also required. As Lenders Mortgage Insurance reduces bank's risk as a lender when providing a home loan, you may be able to apply for a home loan and get into your home sooner, with a lower deposit. Lenders Mortgage Insurance insures bank for any shortfall in the event that you default on your loan and if the proceeds from the property sale are not enough to pay off the loan in full. The cost of Lenders Mortgage Insurance is calculated as a percentage of the loan amount. The percentage applied will vary depending on a number of factors. Please speak to your lender if you would like to understand this process in more detail. The cost of Lenders Mortgage Insurance premium is passed on to you. We do not receive a commission on Lenders Mortgage Insurance.

 Limitations & Restrictions (Constraints)

  • Min Limit of 25000.00 Additional Information: The minimum amount financed is $25,000

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