Flexi First Variable Flexi First Variable (Interest Only) (Owner Occupied)
4.59%p.a Basic Variable
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 80% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Construction, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 1 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 5 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
The loan can be used for: - Purchase or refinance of an owner occupied residential property - Home construction / improvements - for details see Options - Progressive Drawdown - Refinancing of an existing home loan - Construction / renovation by an owner builder - Purchase of vacant land - Other investment purposes. e.g. purchase of shares or other non-property investment (i.e. a Home Loan cannot be used where the customer is purchasing an investment property and receiving rental income). The loan can not be used for: - Business purposes Eligibility: Flexi First Option Home Loan Available to personal customers only. Not available to: - Company borrowers - Family trusts (personal or company trustees) - Non-resident borrowers. Security: Primary security is to be a registered first party first mortgage over owner-occupied residential property. Third party security (guarantees) are permitted in terms of acceptable third party relationships outlined in Third party security: Refer to the Security and LVR' on Westpac broker portal Unacceptable security - Unacceptable security as detailed in 'Security and LVR' on Westpac broker portal - Security in Company names Borrower to open a suitable Westpac account and use DDR repayment payments
LMI not required. Foreign Income Policy Non residents - no lending permitted Temporary visa holders - no lending for foreign income, 70% LVR for applications involving AUD Australian citizens - 70% New Zealand citizens - 70% Permanent visa holders - 70% * Applications for new purchases only - any refinances or cash out are not permitted.
5% Genuine Savings must be validated and verified for all mortgage insured applications where the LVR is more than 85%. Land Purchase, Construction and Renovation Loans: - If the property has been held for 3 months or more then treat as an existing property holding with any equity in the property counting towards the genuine savings. - If the property has been held for less than 3 months then the original purchase and the new application can be treated as one application for genuine savings purposes. Calculate the genuine savings applicable to the total new application then deduct any genuine savings that were verified in the original purchase to leave the net genuine savings required for the new application. Proposals involving Investment loans with LVR more than 90% requires applicants to demonstrate 10% equity in another property. The 10% Equity is to be qualified using the applicants estimated Market Value of their existing residential property against the total current exposure. Current exposure is to be calculated on loan account limit and not loan account balance.
Please note: Quoted Establishment fee of $600 applies to residents, fee is $1000 for non-residents (Fee can be included in the loan). Portability Yes. $350 per move. Progressive drawdown: $95 per draw. Guarantor Fee: $200 $350 Top-up fee $350 Top-up (with portability)