Westpac
Flexi First : Our lowest online variable home loan rate (Owner Occupied)
Westpac · residential mortgages
Provider last updated this product 2026-08-21.
Go to provider
You'll complete your application on
Westpac's website. Confirm the rate and fees with them
before applying.
Your double you gives you a discounted basic variable home loan rate.
As published by the lender
- Headline rates - from 5.99% to 8.24%The lender publishes several headline rates; which one applies is the lender's decision.
Lending rates
| Type | Rate | Comparison^ | Purpose | Repayment | Fixed term | Applies to | Interest |
|---|---|---|---|---|---|---|---|
| VARIABLE | 6.44% | 6.45% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR up to 70% | calculated daily, paid monthly |
| The 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 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. | |||||||
| VARIABLE | 5.99% | 6.00% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR up to 70% | calculated daily, paid monthly |
| Online Offer | |||||||
| VARIABLE | 6.54% | 6.55% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR 70% - 80% | calculated daily, paid monthly |
| Discounted 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% inclusive of any capitalised mortgaged insurance (MI) premium (if available). For Government's home guarantee scheme-backed loans, maximum LVR may differ. | |||||||
| VARIABLE | 6.09% | 6.10% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR 70% - 80% | calculated daily, paid monthly |
| Online Offer | |||||||
| VARIABLE | 6.84% | 6.85% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR 80% - 95% | calculated daily, paid monthly |
| There 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.Discounted 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% inclusive of any capitalised mortgaged insurance (MI) premium (if available). For Government's home guarantee scheme-backed loans, maximum LVR may differ. | |||||||
| VARIABLE | 8.14% | 7.06% | OWNER OCCUPIED | INTEREST ONLY | - | LVR up to 70% | calculated daily, paid monthly |
| The 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 Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusive of any capitalised mortgaged insurance (MI) premium (if available). | |||||||
| VARIABLE | 6.68% | 5.86% | OWNER OCCUPIED | INTEREST ONLY | - | LVR up to 70% | calculated daily, paid monthly |
| Online Offer | |||||||
| VARIABLE | 8.24% | 7.16% | OWNER OCCUPIED | INTEREST ONLY | - | LVR 70% - 80% | calculated daily, paid monthly |
| Discounted 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% inclusive of any capitalised mortgaged insurance (MI) premium (if available). | |||||||
| VARIABLE | 6.78% | 5.96% | OWNER OCCUPIED | INTEREST ONLY | - | LVR 70% - 80% | calculated daily, paid monthly |
| Online Offer | |||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Lending Establishment Fee | UPFRONT | $0 | - |
| Bank Cheque Issuance Fee | EVENT | $10 | $10 per cheque (1st cheque is free) |
| Monthly Loan Account Fee | PERIODIC | $0 | - |
| Missed Payment Fee | LATE_PAYMENT | $15 | - |
| Document Processing Fee | EVENT | $100 | - |
| Account Overdrawn Fee | EVENT | $15 | - |
| Loan Discharge Fee | EXIT | $350 | - |
| Lenders Mortgage Insurance Premium | UPFRONT | - | 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. |
| Property Valuer Fee | EVENT | - | - |
| Extra repayments | EVENT | $0 | - |
| Redraw | EVENT | $0 | If activated and extra funds are available |
| Repayment holidays or Reduced Repayments | EVENT | $0 | Repayment holidays or Reduced Repayments of up to 50% for up to 12 months (subject to approval) |
| Construction loan option | EVENT | $0 | Construction loan option (property valuer fees may apply) |
| Portability option | EVENT | $0 | Portability option (keeping your loan but changing the property securing the loan) |
| Loan switching | EVENT | $0 | Loan switching (changing loan or repayment type) |
Rate history
Rate Comparison rate
The figures behind this chart
| From | Until | Rate | Comparison |
|---|---|---|---|
| 2026-07-15 | 2026-09-30 (current) | 5.99% | 6.00% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
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 charges. Different terms, fees or other loan amounts might result in a different comparison rate.
- 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 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.
- 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, reduced repayments (incl. parental leave), progressive drawdown, repayment holiday, portability, loan increase (top up), parental guarantee and lenders mortgage insurance
Who can apply
- min age - 1818+ years old
- residency status - An Australian citizen or permanent resident
- natural person
- otherAvailable to personal customers only.
- employment status - Employed or self-employed
Limits
- min lvr - 0.00
- max lvr - 0.95
- min limit - 25000.00The minimum amount financed is $25,000
- otherMaximum repayment term 30 years
- otherLoan Maximum - interest only period 5 years
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-08-21T05:30:49Z · Product ID: HLVariableFlexiOwnerOccupied