WestpacPremium Options Home Loan
A variable rate home loan which gives flexibility and a choice of different payment options for owner occupied or personal purposes.
At a glance
- Variable (investor P&I)
- 9.08%
- Max LVR
- 95%
- Annual fee
- $395
- Features
- redraw, extra repayments
How it compares
This home loan in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This home loan | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Investor variable home loanInvestment, principal & interest, 80% LVR | 9.08% | 5.94%AAA Financial Corporation's Portfolio Loan | 6.59%of 104 institutions | 103rd lowest of 104 |
Rates
Every rate Westpac publishes for this home loan, 2 in all.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableWith Interest Only repayment. | Investment, Interest only | - | - | 9.67% | - | - |
| VariableWith Principal and Interest repayment. | Investment, P&I | - | - | 9.08% | - | - |
Rate changes
2 changes logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 15 Oct 2026 | Variable, Investment, Interest only | 9.42% | 9.67% | up 0.25 |
| 15 Oct 2026 | Variable, Investment, P&I | 8.83% | 9.08% | up 0.25 |
Each change is logged the night it appears in the rates Westpac publishes. See how every lender answered the RBA on the rate tracker.
Fees
10 fees published, grouped by when they're charged.
- When you take it outUp to $6002 fees, each listed below
- While you hold itUp to $3952 fees, each listed below
- When you close it or pay it off$350Loan Discharge Fee
When you take it out2
- Lenders Mortgage Insurance Premium
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…
Varies - Lending Establishment Fee
This fee is waived for customers that have Premier Advantage Package (other fees apply)
$600
While you hold it2
- Annual Package Fee
For customer opting for Premier Advantage Package
$395 a year - Monthly Loan Account Fee
This fee is waived for customers that have Premier Advantage Package (other fees apply)
$8 a month
If a payment is late or fails1
- Missed Payment Fee
If applicable
$15 30 days after it's due
When particular things happen4
- Account Overdrawn Fee$15
- Bank Cheque Issuance Fee
$10 per cheque (1st cheque is free)
$10 - Document Processing Fee$100
- Property Valuer FeeVaries
When you close it or pay it off1
- Loan Discharge Fee$350
Features
- A variable rate loan which gives flexibility and a choice of different payment options for owner occupied purposes. The loan can be used for owner occupied residential property purchase, construction…
- Partial Split: Premium Options Home Loan can be split into the original loan and either; one or two select variable rate or fixed rate loans.
- Cancellation of the package: You may cancel your Package at any time by giving us a written request. Your Package will be cancelled, and all benefits will cease, when we receive your written request.
- Loan Payment Method - By direct debit (DDR) is preferred
- 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 r…
- Statements of account: We will send you a statement of your loan account at least every six months or more frequently if you request
- The product provides switching (from another product) feature
- This loan can be part of a combination loan
- The product provides options which includes BPAY, portability, progressive drawdown, repayment holiday, top-up, reduced payment, lenders mortgage insurance and premier advantage package available
Eligibility and limits
- Amount from $10,000, no maximum
- Maximum LVR 95%
- Applicants can be Individuals, Discretionary or Family Trusts, or Companies (only available if property is occupied by company directors or beneficiaries of the trust that is not trustees)
- This loan is only available for owner occupied purposes only that is for Purchase or refinance of Owner Occupied property, Construction/renovations/home improvements, Other investments (excluding inv…
- Individuals, Companies, Discretionary or Family Trusts (Individual or non-individual trustees)
- Maximum repayment term 30 years
- Loan Maximum - interest only period 10 years
Compare it with others
Put this product through a calculator
Published by Westpac under the Consumer Data Right, last changed by them on 28 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.