Finty
Westpac

Westpac Sustainable Upgrades Home Loan

Variable rate

Looking to make energy efficient or climate resilient upgrades? Our Sustainable Upgrades home or investment loan is an additional loan secured against your property, with a cool rate to help you get started.

Written byDavid Boyd

4.74%

interest rate a year, from

4.74%

comparison rate

Upfront fees
None
Annual fee
Not published
Monthly fee
None

What it would cost

At the lowest rate of 4.74% (variable, live in, principal and interest), repayments on $600,000 over 30 years would be about $3,126 a month. Use the comparison on the home loans page to see the rate for your own deposit and loan.

Rates

Every rate Westpac publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny4.74%4.74%

Comparison rates are for an example loan of $150,000 over 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.

Fees and features

Fees

Upfront fees
None
Annual fee
Not published
Monthly fee
None

Features

Offset account
No
Redraw
No
Highest LVR
Not published
Loan amount
From $4,000 up to $50,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

4.74%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

4.74%

For the same rate. Typical is 6.70%.

Upfront fees

None

Typical upfront fees are $600.

Pros and cons

Pros

  • A lower variable rate. 4.74%, below the typical 6.62%. On a $600,000 loan, every 0.10% less saves about $600 a year in interest.
  • No upfront fees. Less cash needed at settlement.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • No offset account. Your savings can't reduce the interest unless you pay them into the loan.
  • A $15 late payment fee. Setting up automatic repayments avoids it.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.