WestpacFlexi First: Our lowest online variable home loan rate (Owner Occupied)
Your double you gives you a discounted basic variable home loan rate.
At a glance
- Variable (owner occ. P&I)
- 6.24%6.25% comparison
- Max LVR
- 95%
- 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 |
|---|---|---|---|---|
| Variable home loanOwner occupier, principal & interest, 80% LVR | 6.34% | 5.93%SCCU's BROKER HOME LOAN | 6.38%of 104 institutions | 39th lowest of 104, level with 10 others |
Rates
Every rate Westpac publishes for this home loan, 9 in all.
Variable rate by LVR
Owner occupier, principal and interest, the lowest rate published for each band of the loan's share of the property's value
- ≤70%6.24%
- 70–80%6.34%
- 80–95%7.09%
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableOnline Offer | Owner occupied, Interest only | - | ≤70% LVR | 6.93% | 5.97% | - |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Discounted rate includes a 0.53% p.a. discount for the life of the loan. Excludes product switches. Maximum LVR for Non Mortgage Insured… | Owner occupied, Interest only | - | ≤70% LVR | 8.39% | 7.18% | - |
| VariableOnline Offer | Owner occupied, Interest only | - | 70–80% LVR | 7.03% | 6.07% | - |
| VariableDiscounted rate includes a 0.53% p.a. discount for the life of the loan. Excludes product switches. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusiv… | Owner occupied, Interest only | - | 70–80% LVR | 8.49% | 7.28% | - |
| VariableOnline Offer | Owner occupied, P&I | - | ≤70% LVR | 6.24% | 6.25% | - |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Discounted rate includes a 1.64% p.a. discount for the life of the loan. Excludes product switches. Maximum LVR for Non Mortgage Insured… | Owner occupied, P&I | - | ≤70% LVR | 6.69% | 6.70% | - |
| VariableOnline Offer | Owner occupied, P&I | - | 70–80% LVR | 6.34% | 6.35% | - |
| VariableDiscounted rate includes a 1.64% p.a. discount for the life of the loan. Excludes product switches. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusiv… | Owner occupied, P&I | - | 70–80% LVR | 6.79% | 6.80% | - |
| VariableThere will be an additional 0.30% p.a. on top of our standard interest rate if you're borrowing over 80% of Westpac's property valuation. This additional LVR+ margin applies to all new loans. Discoun… | Owner occupied, P&I | - | 80–95% LVR | 7.09% | 7.10% | - |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 9 Oct 2026 | Variable, Owner occupied, P&I, 80–95% LVR | 6.84% | 7.09% | 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
15 fees published, grouped by when they're charged.
- When you take it outVaries2 fees, each listed below
- While you hold itNo feeMonthly Loan Account Fee
- 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 FeeNo fee
While you hold it1
- Monthly Loan Account FeeNo fee
If a payment is late or fails1
- Missed Payment Fee
If applicable
$15 30 days after it's due
When particular things happen10
- Account Overdrawn Fee$15
- Bank Cheque Issuance Fee
$10 per cheque (1st cheque is free)
$10 - Construction loan option
Construction loan option (property valuer fees may apply)
No fee - Document Processing Fee$100
- Extra repaymentsNo fee
- Loan switching
Loan switching (changing loan or repayment type)
No fee - Portability option
Portability option (keeping your loan but changing the property securing the loan)
No fee - Property Valuer FeeVaries
- Redraw
If activated and extra funds are available
No fee - Repayment holidays or Reduced Repayments
Repayment holidays or Reduced Repayments of up to 50% for up to 12 months (subject to approval)
No fee
When you close it or pay it off1
- Loan Discharge Fee$350
Features
- Repay faster to save: Pay off your home sooner with unlimited extra repayments. You can choose to repay weekly, fortnightly or monthly.
- Simple with low fees: A basic variable loan, with no ongoing fees and a sweet interest rate. We've kept it simple, so no offset is available with this loan.
- Handy loan options: Benefit from a loan term of up to 30 years. Split by fixing part of it or reduce repayments for up to 12 months (subject to approval).
- ONLINE OFFER: Our lowest online variable rate for Flexi First Option home loan with Principal & Interest (P&I) repayments
- Split loan Option
- 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).
- Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charg…
- Loan Payment Method - Direct Debit (preferred), Direct Credit, Branch Payment, Internet or Phone Banking
- Repayment frequencies includes weekly, fortnightly or monthly
- 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
Eligibility and limits
- Minimum age 18
- Residency: An Australian citizen or permanent resident
- Employment: Employed or self-employed
- Available to individuals
- Amount from $25,000, no maximum
- Maximum LVR 95%
- Available to personal customers only.
- Maximum repayment term 30 years
- Loan Maximum - interest only period 5 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.