Premium Options Home Loan
Home LoansData Sharing Status
A variable rate home loan which gives flexibility and a choice of different payment options for owner occupied or personal purposes.
- From (investment)
- 8.83%
- Variable
Interest Rates
Investment — Principal & interest
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable With Principal and Interest repayment. | 8.83% | — | — |
Investment — Interest only
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable With Interest Only repayment. | 9.42% | — | — |
Fees
| Fee | Type | Amount |
|---|---|---|
Lending Establishment Fee
| Upfront | $600.00 |
| Bank Cheque Issuance Fee $10 per cheque (1st cheque is free) | Event | $10.00 |
| Monthly Loan Account Fee Charged monthly
| Ongoing | $8.00 |
| Missed Payment Fee | Late payment | $15.00 |
| Document Processing Fee | Event | $100.00 |
| Account Overdrawn Fee | Event | $15.00 |
| Loan Discharge Fee | Exit | $350.00 |
Features
- Redraw facility
- The product includes redraw 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 of single residential dwelling, refinancing of an existing owner occupied property loan, other investment opportunities (excluding investment property), personal purposes, refinancing of existing loans (debt consolidation)
- Discounts on other products — You save on fees when you choose the Premier Advantage Package, however an annual package fee of $395 applies.
- 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 : A package owner may cancel the package at any time by giving us 14 days advance notice in writing.
- Loan Payment Method - By direct debit (DDR) is preferred
Eligibility
- 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 investment property), Debt consolidation and Personal use
- Individuals, Companies, Discretionary or Family Trusts (Individual or non-individual trustees)
Constraints
- Minimum LVR — 0%
- Maximum LVR — 95%
- Minimum limit — $10,000.00The minimum amount financed is $10,000
- Maximum repayment term 30 years
- Loan Maximum - interest only period 10 years
Published by Westpac under the Consumer Data Right · Last updated 13 July 2026 · Product ID HLPremiumOptionHomeloan · View on CDR.gov.au