Flexi First : Our lowest online variable home loan rate (Owner Occupied)
Flexi First Option is a basic home loan with a low variable rate, no loan account fee and no lending establishment fee with Principal & Interest repayments.
- From (owner occupied)
- 5.99%
- 6% comparison
Interest Rates
Owner occupied — Principal & interest
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Online Offer | 5.99% | 6% | LVR up to 70% |
| Variable Online Offer | 6.09% | 6.1% | LVR above 70% to 80% |
| Variable 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. | 6.44% | 6.45% | LVR up to 70% |
| Variable 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. | 6.54% | 6.55% |
Fees
| Fee | Type | Amount |
|---|---|---|
| Lending Establishment Fee | Upfront | $0.00 |
| Bank Cheque Issuance Fee $10 per cheque (1st cheque is free) | Event | $10.00 |
| Monthly Loan Account Fee Charged monthly | Ongoing | $0.00 |
| 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 |
| 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 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. |
Features
- Redraw facility
- Access extra funds: Redraw your extra repayments whenever you need. Just make sure redraw is activated. You can even apply for a loan increase.
- 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).
Eligibility
- Minimum age — 18 years18+ years old
- Residency status — An Australian citizen or permanent resident
- Individuals only
- Available to personal customers only.
- Employment status — Employed or self-employed
Constraints
- Minimum LVR — 0%
- Maximum LVR — 95%
- Minimum limit — $25,000.00The minimum amount financed is $25,000
- Maximum repayment term 30 years
- Loan Maximum - interest only period 5 years
More Information
Published by Westpac under the Consumer Data Right · Last updated 13 July 2026 · Product ID HLVariableFlexiOwnerOccupied · View on CDR.gov.au