Westpac Home Loans
One of the Big Four banks
Compare Westpac mortgage rates, products, and features. Known for flexible loan options and offset accounts.
Current Westpac Mortgage Rates
Updated May 2026
| Term | Rate | vs Market |
|---|---|---|
| Floating | 5.89% | Carded |
| Floating | 5.99% | Carded |
| Floating | 5.89% | Carded |
| 6 months | 4.69% | Special |
| 6 months | 5.29% | Carded |
| 1 year | 4.69% | Special |
| 1 year | 5.29% | Carded |
| 18 months | 4.99% | Special |
| 18 months | 5.59% | Carded |
| 2 years | 5.19% | Special |
| 2 years | 5.79% | Carded |
| 3 years | 5.35% | Special |
| 3 years | 5.95% | Carded |
| 4 years | 5.39% | Special |
| 4 years | 5.99% | Carded |
| 5 years | 5.59% | Special |
| 5 years | 6.19% | Carded |
Westpac Home Loan Features
Westpac Choices
Flexible loan structure with fixed, floating, and offset portions combined.
Offset Account
Reduce interest by linking your everyday savings to your mortgage.
First Home Buyer Support
10% deposit loans, First Home Grant support, and buyer education resources.
Extra Repayments
Up to 5% extra on fixed, unlimited on floating and Choices.
Westpac Pros & Cons
Pros
- +Excellent offset account
- +Flexible Choices loan structure
- +Competitive floating rates
- +Good cashback offers
Cons
- -Fixed rates not always the lowest
- -Application fees may apply
- -Processing times can vary
Westpac FAQs
What are Westpac's current mortgage rates?
Westpac's carded rates change frequently. See our snapshot at /api/lender/westpac/summary.md for current numbers across all terms, and confirm directly with Westpac before applying.
What is Westpac Choices?
Choices is Westpac's flexible home loan that lets you split between fixed, floating, and offset portions. Good for borrowers wanting flexibility.
Does Westpac have an offset account?
Yes, Westpac offers an offset account linked to your floating rate portion. Your savings balance reduces the mortgage you pay interest on.
Can I get cashback from Westpac?
Yes, Westpac offers periodic cashback promotions for new customers and refinancers. Amounts typically range from $2,000-$5,000.
Next step
Compare Westpac against other big-5 lenders, or visit Westpac directly to apply.
Important: how to read this information
This website is operated by Evolve Group Limited (FSP711891), a Licensed Financial Advice Provider regulated by the Financial Markets Authority (NZ). The information published here is general in nature and is not personalised financial advice. For personalised advice that takes your circumstances into account, request to be matched with one of our licensed mortgage advisers via the enquiry form.
Rate accuracy. The Westpac rates shown here were observed at 21 May 2026, 12:27 pm from Westpac's published carded-rate page. If Westpac has updated their rates since that timestamp, the authoritative source is the lender's page (linked), not our derived figure. Carded rates are advertised rates — the rate you ultimately receive depends on your application, including your LVR, income, credit profile, and any negotiation conducted by a licensed mortgage adviser.
CCCFA + Responsible Lending Code. Final lending decisions are made by the lender under the Credit Contracts and Consumer Finance Act 2003 and the MBIE Responsible Lending Code. Lenders apply servicing-test rates (typically around 8% post-2023), debt-to-income caps (RBNZ DTI 6× owner-occupier / 7× investor from 2024), and Loan-to-Value Ratio limits. Carded rates are not an offer or a pre-approval.
Disputes. If you have a complaint about advice received through this site, contact Financial Services Complaints Limited (FSCL) on 0800 347 257 or info@fscl.org.nz.
Site operated by Evolve Group Limited, FSP711891.
Rates snapshot generator: scripts/snapshot-lenders.mjs.
Machine-readable snapshot: /api/rates/facts.json.