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Designed for someone who wants a no-frills, basic home loan.
If you have made any extra repayments, you have access to redraw them. (fees apply)2.
Choose to make your repayments weekly, fortnightly or monthly.
You could use the equity in a family member’s home to help you on your home buying journey and maximise the amount you can borrow.
You may be able to pause or reduce your repayments for a set period (keep in mind after the break your repayments may be higher for the rest of your loan term).2
Home and Contents Insurance helps you get back on your feet if your home or personal belongings are affected in an unforeseen event. Plus save up to 25%.^
For new Owner Occupier with Principal & Interest repayments and Investment loans. Available on our Advantage Package and Basic home loans. $395 annual package fee. $250k min loan per property refinanced. Excludes refinances from within Westpac Group. Apply by 31 July 2020, and settled by 30 September 2020.
Conditions, fees and credit criteria apply.
Before making a decision, it’s best to read the terms and conditions:
Please read these documents and keep a copy. You can request a paper copy at a branch.
The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 22 66.
* Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years.WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
** Basic Home Loan Promotional Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Principal and Interest repayments received from 5 June 2020. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within St.George, Bank of Melbourne and BankSA. This offer may be varied or withdrawn at any time. Interest rates subject to change.
*** Basic Home Loan Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Principal and Interest repayments received from 5 June 2020. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within St.George, Bank of Melbourne and BankSA. This offer may be varied or withdrawn at any time. Interest rates subject to change.
Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible Bank of Melbourne transaction account. An Advantage Package discount has been included in the advertised eligible rate. The discount and fee savings apply for the duration of the package. Before deciding to acquire a Bank of Melbourne transaction account, read the , and consider if the product is right for you.
1. As compared to our standard variable interest rate.
2. Redraw, repayment pause and rate lock requests are subject to our approval. Fees apply.
3. Upfront fees and other fees and charges may apply.
+LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the banks valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan. Any applicable LVR discount has been included in the advertised eligible rate.
^Quote and buy online and save 15% off your annual premium for the first year with promotional code COVER. Plus, save a further 10% when you combine home and contents located at the same address under one policy.
Home and Contents Insurance is issued by Westpac General Insurance Limited ABN 99 003 719 319 (except workers compensation cover where applicable). Bank of Melbourne – a Division of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) distributes the insurance, but does not guarantee the insurance.