How it works.

Every Westpac first home loan application that is drawn down between 6 June and 30 September 2022 goes into the draw to win one of five prizes of $50,000.

Each winner will have the prize offset against their home loan, reducing the total amount borrowed by $50,000.

The loan must be a new Westpac residential first home loan.

You must be a first home buyer to be eligible.*

Get in touch with us now.

What you need to apply.

Applying for a first home loan requires a little homework. To help make it easier, we’ve outlined the key steps you’ll need to take.

Get in touch.

Meet with an expert

Contact a Mobile Mortgage Manager who can help guide you through the process of getting into your first home.  They are local in each region, offering expert help and advice.

Find a Mobile Mortgage Manager

Featured rates.

* Min 20% equity, plus salary credit to a Westpac transaction account. Not available with any other Westpac home loan offers, promotions or package discounts, or the Westpac Choices Home Loan with Airpoints™. Loans for business or investment purposes excluded.

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.


Find out the best option for you with our home loan calculators.

Things you should know.

*A First Home Buyer is someone who has not previously owned a residential property in New Zealand and intends to live in the property they are buying.  All parties to the borrowing need to meet this requirement to be considered a First Home Buyer.

To be eligible for the prize draw, home loans must be drawn down between 6 June and 30 September 2022.  Establishment fee of $140 may apply. Interest rates are subject to change without notice.  A low equity margin may apply. Prize draw terms and conditions, Westpac home lending criteria and other T&Cs apply.

Be in to win $50,000 off your first home loan competition terms

Entry into this prize draw constitutes acceptance of the following terms and conditions:

  1. Entry is automatic for all retail first home loan account customers who have their home loan application approved and drawn down between 6 June and 30 September 2022.
  2. There are five prizes of $50,000 to be won.  Each $50,000 prize will be put against the winner’s home loan, reducing the total amount borrowed by $50,000.
  3. A random prize draw from eligible entrants will be made by 31 October 2022. Five winners will be drawn.
  4. One draw entry per first home loan account customer.
  5. Winners will be notified by telephone by 31 October 2022. If winners are not reasonably able to be contacted within 5 days of the prize draw, the prize shall be forfeited and another winner will be drawn.
  6. Each winner will be contacted by a Westpac Home Loan specialist who will help to re-structure the customer’s home loan.
  7. By entering, you  consent  to  Westpac  publishing  your  name  should  you  win,  on the Westpac NZ Facebook page and in any other forum that Westpac considers appropriate.
  8. Employees (and their immediate family members) of Westpac, and their associated entities, are entitled to enter or win, however this will be limited to one of the applicable prizes if drawn.
  9. The prize is non-transferable, non-refundable, non-exchangeable and cannot be redeemed for cash. Westpac may substitute the prize or any portion of the prize with an alternative prize of equivalent value without notice.
  10. If Westpac cannot run the prize draw as planned, Westpac may extend the entry period or postpone or cancel the prize draw. If so, a notice will be posted on Changes to Westpac terms and conditions.
  11. Westpac may disqualify an entrant for (a) tampering with the entry process; (b) submitting an entry that is not in accordance with these terms and conditions; or (c) engaging in any conduct calculated to jeopardise the fair and proper conduct of the promotion.
  12. All decisions made by Westpac are final and no correspondence will be entered into.
  13. You are fully responsible for any tax implications arising from accepting the prize.
  14. Except for any liability that cannot be excluded by law, Westpac (including its officers, employees and agents) excludes all liability, for any direct, indirect, special or consequential loss, damage or injury (including loss of opportunity and any personal injury, whether physical or mental) arising in any way out of the prize draw or acceptance or use of any prize.
  15. To the extent permitted by law, neither Westpac nor its agents will be responsible for the quality of any prize once issued. Nothing in these terms and conditions is intended to exclude, restrict or modify a consumer's rights under the Consumer Guarantees Act 1993 or any other statutory rights that the winner may have in relation to the prize.
  16. The Promoter is Westpac New Zealand Limited (“Westpac”).

Documents and fees

See the detailed terms and conditions, and fees, for our home loans:

View terms and conditions for all our home lending products here.