Choices Fixed interest rates.

Fix your interest rate and be sure your repayments will stay the same.

* Minimum 20% equity, plus salary credit to a Westpac transaction account.  Not available with any other Westpac home loan offers, or promotions or package discounts.  Loans for business or Investment purposes excluded.

Lending criteria, terms and conditions, apply to home loans. For home loans with less than 20% equity, a low equity margin may apply, see low equity margins home loans explained for more details on how this is applied.

Interest rates are subject to change without notice.

If you don’t pay amounts when they’re due, your home loan account may exceed its limit and the interest rate applied to the over limit amount will be your annual interest rate plus an additional 5% p.a.

 

Choices Floating interest rates.

Keep your options open and pay off lump sums without prepayment costs.^

1. For existing customers, until 16 December 2024: 
Choices Floating Rate remains at 7.89% p.a.
Choices Everyday Floating Rate remains at 7.99% p.a.
Choices Floating with Offset Rate remains at 7.89% p.a.

^See Choices Home Loan account fees.

For home loans with less than 20% equity, a low equity margin may apply, see low equity margin home loans explained for more details on how this is applied.

Interest rates are subject to change without notice.

If you don’t pay amounts when they’re due, your home loan account may exceed its limit and the interest rate applied to the over limit amount will be your annual interest rate plus an additional 5% p.a.  

Low Equity Margin.

When you take out a home loan and borrow more than 80% of the property’s value, a low equity margin may apply.

This is a percentage amount that is added to the interest rate on your home loan.

The low equity margin that applies depends on the Loan-to-Value ratio  which is calculated by dividing the total amount of your home loan by the total value of your property.

Loan-to-value-ratio Low equity margin
80.01% - 85.00% 0.25% p.a.
85.01% - 90.00% 0.75% p.a.
90.01% - 95.00% 1.50% p.a.
Greater than 95.01% 1.75% p.a.

*Westpac NZ may change the low equity margin, replace it with a new margin from time to time. 
See low equity margin home loans explained for more details on how this is applied.

Base rates.

The following base rates are listed for disclosure purposes. The Choices Floating interest rates are calculated as: a base plus a margin (if any).
For more information on Base Rates and to see which rate applies to your loan, see your loan terms and conditions#.

#Westpac NZ may change the Base Rate, replace it with a new Base Rate, or change the margin (if any) from time to time.

For home loans with less than 20% equity, a low equity margin may apply, see low equity margin home loans explained for more details on how this is applied.

If you don’t pay amounts when they’re due, your loan account may exceed its limit and the rate of interest that’ll be applied to the overlimit amount will be the interest rate + 5% p.a.

Choices Everyday Home Loan account fees.

Note: Other service fees may still apply. See home lending services fees below.

Choices Home Loan account fees.

*Only applicable on fixed rate Choices Home Loans.

Note: Other service fees may still apply. See home lending services fees below.

Home lending services fees.

1 A prepayment cost may also apply as described in the loan agreement.

2 Additional disbursement charges may apply in some circumstances (includes discharge of securities, release of guarantees/life policies, priorities, variation memorandums that alter security arrangements through acting solicitor and collection of life policies under assignment) or where no solicitor is involved. Quotation is available on request. 

Terms.

Get in touch.

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Talk to us

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Call 0800 177 277

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Things you should know.

Interest rates and fees are subject to change. Westpac's home loan lending criteria, terms and conditions apply. A low equity margin may apply.