Westpac
Flexi First : Our lowest online variable home loan rate (Owner Occupied)
Your double you gives you a discounted basic variable home loan rate.
Home loansBank updated 21 Aug 2026
At a glance
- Variable (owner occ. P&I)
- 5.99% · 6.00% comparison
- Max LVR
- 95%
- Features
- redraw, extra repayments
§ 01 — Rates · 9
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableOnline Offer | Owner occupied · Interest only | — | ≤70% LVR | 6.68% | 5.86% | — |
| 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 | 8.14% | 7.06% | — |
| VariableOnline Offer | Owner occupied · Interest only | — | 70–80% LVR | 6.78% | 5.96% | — |
| 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 | 8.24% | 7.16% | — |
| VariableOnline Offer | Owner occupied · P&I | — | ≤70% LVR | 5.99% | 6.00% | — |
| 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 | 6.44% | 6.45% | — |
| VariableOnline Offer | Owner occupied · P&I | — | 70–80% LVR | 6.09% | 6.10% | — |
| 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 | 6.54% | 6.55% | — |
| 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.Discount… | Owner occupied · P&I | — | 80–95% LVR | 6.84% | 6.85% | — |
§ 02 — Fees · 15
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Account Overdrawn Fee | Event | $15 | — | — |
| Bank Cheque Issuance Fee | Event | $10 | — | $10 per cheque (1st cheque is free) |
| Construction loan option | Event | No fee | — | Construction loan option (property valuer fees may apply) |
| Document Processing Fee | Event | $100 | — | — |
| Extra repayments | Event | No fee | — | — |
| Loan switching | Event | No fee | — | Loan switching (changing loan or repayment type) |
| Portability option | Event | No fee | — | Portability option (keeping your loan but changing the property securing the loan) |
| Property Valuer Fee | Event | Varies | — | — |
| Redraw | Event | No fee | — | If activated and extra funds are available |
| Repayment holidays or Reduced Repayments | Event | No fee | — | Repayment holidays or Reduced Repayments of up to 50% for up to 12 months (subject to approval) |
| Loan Discharge Fee | Exit | $350 | — | — |
| Missed Payment Fee | Late payment | $15 | — | — |
| Monthly Loan Account Fee | Periodic | No fee | Every 1 mo | — |
| Lenders Mortgage Insurance Premium | Upfront | Varies | — | 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… |
| Lending Establishment Fee | Upfront | No fee | — | — |
§ 03 — Features
RedrawExtra repaymentsGuarantor optionDigital bankingFraud protectionRelationship manager
- · 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…
- · 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
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: An Australian citizen or permanent resident
- · Employment: Employed or self-employed
- · Available to individuals
- · Amount $25,000 to no maximum
- · Maximum LVR 95%
- · Available to personal customers only.
- · Maximum repayment term 30 years
- · Loan Maximum - interest only period 5 years
§ 06 — Run the numbers
Put this product through a calculator
Published by Westpac under the Consumer Data Right, last changed by them on 21 Aug 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.