Westpac Home Loans

Increasing the interest rate by 0.35% without provocation is an act of sheer bastardry to the Australian people. The RBA's cash rate is unchanged so why other than to callously gouge the consumer. The pure greed is disgusting and it is any wonder that sentiment against the banks is at an all time low. You are the a huge part of the reason why life… Read more

is becoming affordable to everyday Australians. It is not as if you do anything - the money you lend is literally created out of thin air through fractional reserve banking. If I photocopy a few 20's, i get done for counterfeiting whereby the banks can add an extra 0 to the balance sheet and charge the public interest on it. Everyone should withdraw their fortnightly wages in cash just out of sheer spite - lets see how long you would last then.

I had an absolutely excellent experience with Westpac! I was initially dealing with a terrible mortgage broker who completely wasted my time, leaving me frustrated and uncertain about my next steps. When I reached out to Westpac to explain my situation, they immediately connected me with one of their managers—who went above and beyond to help. … Read more

Not only was the loan process handled with incredible efficiency, but the manager even worked after hours and on the weekend to ensure everything was done as quickly as possible. From start to finish, the entire process was completed in just two days!

This level of dedication and customer service was far beyond what I expected, and I genuinely appreciate the effort they put in to make things happen for me. I now have full confidence in Westpac and am seriously considering moving all my loans from CBA to them.

Highly recommend!

Quickest and most seamless process ever – To be honest I wasn't overly interested in refinancing to one of the big 4, but Westpac were offering a great rate and $3k cashback. Lodged the application online over a glass of red on Sat 11/09. Heard from the Westpac Home Finance Manager Lynn Gu a few days later. The customer service and efficiency of the process was second to none (even able… Read more

to accept and sign loan docs online via the app) our loan was settled on 04/10 (a public holiday) so 3 weeks end to end and to be honest I think the my partner and I delayed the process by about a week due to our schedule. Couldn't be happy with the service we received from Lynn and the streamlined process was exactly the opposite of what I was expecting after previous experiences (we had just refinanced 14 months earlier). Couldn't be happier

Carlingford Tony is the best! – Did our finance with tony, very experienced and helpful . Approved in 2 minutes with no drama! Highly recommended! Book with tony, your finance 80% all fixed! Start with right person, end up with brilliant result! Thank you Tony ! Show details

After granting me provisional home loan (twice) for $65000 this bank refused to finalise my loan of $550000, saying they were over exposed in the building. My deposit was placed at risk by this self-interested, profit-hungry bunch. Don’t take a loan with them. They displayed unethical behaviour and will leave you at risk. Show details

Regretful Refinancing with Westpac – Completely unwilling to negotiate a better interest rate over the phone today, the woman who I spoke to just couldn’t be bothered.

Slow, useless and don’t do it to yourself!!! – Absolutely crap to deal with, would be good if they had the decency up front so we don’t waste our time dealing with them. Really hard to work with, they take 4+ days to respond to inquiries which puts you into penalties with builders for progress payments. Costs $000’s. Make no mistake Westpac do not give a damn about you, as long as they get… Read more

that legal doc signed where they have your $ or can hit you with fees to leave thats all they care about.

Appaled in the home loan customer service off shore workers who are heartless – DO NOT GET A HOME LOAN WITH THEM I am totally appalled at the service and treatment Westpac are giving their customers Firstly you are talking to someone off shore When they take your money in Australia and interests rates are so high they can’t even hire Australian workers Secondly they call daily and repeat themselves asking you the same… Read more

questions they don’t care about your circumstances and they don’t care if your genuinely making weekly payments They are so unprofessional and have no care for their customers at all

Worst Bank Ever – Worst home loan organization I have ever delt with in my 47 years life doing business with banks. If I could give a minus 5 rating I would. Rang to complain about their service to and they hung up on me twice because I had a legitimate complaint. All they care about is how they can make extra money from you. Run don't deal with this organization or you will get ripped of in the end. Show details

I would caution others not to invest time with Westpac – In 2010, during my postgraduate studies, I was a customer of Commonwealth Bank. On one occasion, I noticed that Westpac was advertising a very competitive term deposit interest rate. Intrigued, I visited a nearby Westpac branch with the intention of opening a term deposit account. However, upon reviewing the terms and conditions, I found several… Read more

barriers that prevented me from proceeding with the account opening process, leading to my decision to leave.

Fifteen years later, in 2024, while in the market for a home loan for a new 3-bedroom condominium unit in Merrylands, adjacent to the Stocklands shopping center, I once again considered Westpac. They presented an appealing interest rate of 6.05% for the loan. However, upon submitting my application, Westpac provided a valuation of $640,000, which I found to be unreasonably low!

In light of these experiences, I would caution others not to invest time with Westpac. While their advertised rates may initially seem attractive, the practical experience often falls short of expectations.

Worst bank, won't help you, incompetent – I've banked with them for over 20 years and since 2022 they've been useless. I had a job during COVID, but lost it at the end of 2022. Bank was cool said I could do a payment holiday, but then didn't honour it and slashed my perfect credit score. I caught up and paid it back, then in Aug 2022, I was behind by 1 payment and spoke to Westpac about… Read more

selling my house to pay off the loan and owing amounts. They said I would get 4 months deferred from payments in order to sell the home, but that again hasn't been honoured. I'm now almost 6 months in debt ON TOP OF MY HOME LOAN OWING, and they have been refusing to help. My credit score is shot. I'm honestly heart broken.

Took forever, lost documents and, once signed, hard to get information/clarification of any kind – Run away if you can! The story is too long, but basically: - Almost lost the settlement day as Westpac took AGES to even open the file - After opening the file, their agent read the floor plan wrongly and almost had to go through full valuation unnecessarily - Westpac still requires hard copies of everything and they send contract hard copies… Read more

to their branches. You have to go in-person to a branch to sign (majority of banks - at least the big ones - now have electronic options). Therefore, take this admin additional days into consideration (paper travelling around)

- They sent the hard copy to the wrong branch (partially brokers fault) and re-sent later to the chosen branch. Ended up having to go further out to sign (and half day off from work), even though my first choice was a branch within walking distance. Plus, don't know what happened to the other copy of the document - concerning, given the personal and sensitive information contained! Was never contacted about this missing contract flying around...

- After signing the contract, was given a customer number and registered my password (in front of the home loan specialist - in-person), which worked. The day after, I tried to login and it didn't work. Apparently their home loan team actioned the contract with a different customer number, so I had to re-do the account registration, which obviously did not work online, so had to call...And wait...And answer all the secure questions...And try again until it worked...

- In less than a year, went through all the interest increases...Including July increase, even though RBA has not lifted their rate - So, be ready to cope with whatever they want for rates after you sign (even if they have a 'discount for life' in the loan) and be ready for a lack of customer service/advice when you contact them...

- I called to follow up on how my loan is trafficking and ask for advice and if there is any better deal. Ended up with someone on the phone that was more of a 'check the box/read the script' profile. Could not pass the phone person, who also mentioned a couple of other concerning 'not so correct' information about my registered profile. I got too frustrated, as we were clearly not going anywhere, and decided to terminate the call. I then called the branch to either talk directly to my home loan agent or book an appointment - could not get through either of the 2 branches that I normally use, but positive points as the branch manager did reply to my email saying she will get back to me [can update this later, when I get a reply]

- Decided at this stage the phone conversation was sounding more like 'give this customer a run around, she will go away'...But then I received an email (related to the call that I terminated due to frustration and no resolution) with the following message: 'thank you for your time sharing your complaint. We are pleased we have been able to resolve the matter with you' - ' if we can be of further assistance, please contact us [link]...' As the email is from a 'do not reply', I can't reply to it as: 'no, you have not resolved my complaint', 'I am now 5x more frustrated'. To reply I am supposed to click their feedback link, fill the form...Go through their process...Etc etc..You get where I am going with this...

Overall, if you have the means, I would recommend to search around and find another option!

Fantastic product – I have all my loans with westpac - great rates and service was fantastic Show details

Not even worthy a star – We have been loyal customers for over 20 years . Here are how they treat us TODAY : 1) No respect 2) No one care and have a good heart to serve, listen and HELP 2) Their useless apps don't work, tried 5 days. 3) Long waiting times come with unprofessional staffs, treating you as a number not a customer. with a rude and cold approach. 4) $ Money DRIVEN Business Don't use them 1 change the bank! or complain to AFCA! Show details

If you want to ruin your life, chose Westpac – Westpac have taken 5 months to process our Home Loan application. They are completely incompetent. They have been responsible for all the delays. Their staff are incapable of completing the most basic tasks such as compiling the correct documentation, and spelling our names correctly. Their customer service is appalling. We have recieved no… Read more

communication and no compensation for our delays. They have caused us financial ruin throughout all the extra hidden costs they don't disclose. One of their staff at our local branch destroyed all our documents before they quit, so we were then forced to submit again. We have supplied our documents to them SIX times. Each time they ask for something else which we have already given them - they just don't know what theyre doing. And they are now delaying us again because they are incapable of verifying documents. We still have to go through with this loan due to our current circumstances, but if i could, my goodness i would sue them, sack all their staff and put them into administration. Absolute waste of our lives. Do yourself a favour and don't go anywhere near them.

Very difficult admin – Westpac had veen so difficult to deal with. I have a mortgage with them and have been trying to manage the account. Have booked a phone appointment which they never called me. Tried calling their homeloan section. Was transferred from one person to another for 4 times only to be told they cannot help. Very incompetent banking service.

Very high interest rates – I have been banking only with Wesrtpac, and got my home loan from them. They told me that the interest was best and they would give me the best rate etc. However, I realised that my rates are signficantly higher than what several other banks offer. When I approached them saying that I am considering to move to other lenders, they offered me a very… Read more

negligible reduciton in interest rate (around 0.02%). I insisted thm that my rate is still significantly higher and I would consider changing my lender. They said they would get back to me within 48 hrs. It has been more than 2 weeks and haven't heard back. No reply to phone calls, emails. I am very much disappointed.

no loyalty – rang to ask about getting better interest rate on mortgage, says I've got best they can give me but new customers can get a lot better rate ,so much for looking after loyal customers, banks making billions and treating customers like crap

Don’t refinance or take out a new loan with them they delay settlement astronomically! – They offered very low rates to get us in the door. Continually stuffed up the paperwork on their end delaying the settlement by about 8 weeks so we never got to see the benefits of the low rates they offered as in that time rates went up. They take a minimum of 2 to 3 weeks to do anything each time they stuff up. Have made multiple complaints and… Read more

tried to contact them and no one has been in contact with me. I would never ever consider them for a new loan if they delay settlement by this much. What a nightmare, wish I’d stayed with commbank in hindsight.

Sales gimmicks to get your bussiness – I was looking for my home loan refinance and got a refinance offer from Wespac. Sounded good at the time. A lot of sale gimmicks to get your business. One is a "cash back" offer for refinance. Got my refinance and waited for my cash back repayment. After a couple of months queried about it. They said they will pay it out and they were just waiting… Read more

for final approval. A month later a phoned again and they said it was declined as I did not qualify according to the criteria. It wasn't much, just $3000. But what infer orated me was the fact that they use all this fancy sales jargon and gimmicks to sell you a product but after they have your business / money they always have an excuse not to pay. And during these 4 months they did not contact me once to let me know how the process was going. I know my $500000 that they make out of me is not that much for the bank and the banks always have bigger fish to screw over but getting screwed over by banks every day is enough to make anyone sick. It is one of those bitter pills you have to swallow every day. One of those necessary evils in life. I will get rid of my Wespac home loan account as soon as possible and take my business to another sneaky bank. They will get nothing but negative advertisement from me and I will make sure people know it. Might sound like sour grapes? It is. Banks are gangster in suits. Read your contracts well because the banks are very good in their sneaky fine print.

Extra Loan Processing Times – I am planning a renovation and builder has provided me with a quote valid for 30 days. I put in an application with Westpac the day I got the quote. Valuation of my property was arranged a week before. So I am entitled to withdraw my equity which I need for the renovation. Prior to submitting the paperwork, Westpac had an SLA of 5 working days to… Read more

process and give me my approval.

On the 4 day, the SLA was amended to 9 days. On the 7th day, they changed it to 11 days.

And today is the 10th day, and I just checked, they’ve amended it to 12 days.

Westpac has probably the worse and incompetent processes of all the banks. Not efficient and probably working on an antique processes.

I am really frustrated as my quote from the builder is valid for 30 days and I am already half way through that validity period.

Westpac can’t even do the simplest things.

Greed comes before common business sense – I have now been with Westpac for 37 years. In late 2019 I was advised the Westpac Premium Relationship Managers (the ones that actually gave customer service in a timely manner), were to be replaced by local branch managers. (Did someone say full circle?). So after rates started going down in Mar 2020 I made contact to request a meeting, to… Read more

consolidate 3 loans at better rates. Two of these loans were fixed so expected a break costs, but not the amount, and the blunt response I got from Raelene "a Personal Banker Specialist" (where has the manager gone again?), stating I would have break costs of $12k and a $300 admin fee. She then went on to say we can discuss options, to which I replied that would be great as I'm not paying 12k plus fees. I received another reply there would be no negotiation on the break costs and I should have read the Terms and Conditions when I started the loan. After being a loyal customer all my adult life with at least 12 loans taken up (never missing or late for payment on any), I was gob-smacked by the cold and greedy response. I decided then that Westpac would lose my business and I would wait until all loans came up for renewal (so no break fees) and close one at a time. Today I feel like I've won something, I've just closed the last of 10 accounts including 4 loans, which have taken over 2 years to do. For that greed over enforcing a break fee to the fullest, how much will Westpac lose in interest payments from us? Well done Westpac, there's nothing like hindsight hey?

Complete disregard of settlement period for customers – A Westpac branch reached out for docs to be signed. They then had them sent to another branch, but it took over a week. In the meantime, the same ones were sent but via mail and incorrect. This added confusion so docs had to be resigned. They have taken over two weeks to simply send them to me, even though they’ve been put on ‘high priority’. I’m… Read more

nearing my settlement period and very worried this will derail everything. I followed up the other day and found that they’d simply forgotten to send anything. There is very real and very high anxiety around me not settling before the agreed date due to Westpac’s incompetence.

Every process is stretched out – If you have patience to wait for few weeks, other banks normally takes few days for the same process, then feel free to go with Westpac’s Home loans. Their teams are least helpful, they won’t even call you if you lodge a complaint with them. I wish I have never dealt with these guys to start with. Show details

they lost me through a basic lack of customer service – I banked with Westpac since 1985. I had been dealing with a Premium Banker - he retired and his replacement was hopeless - she didn't do what she said she would do and even sent me details of other customers' loan applications by mistake. I was looking to refinance into a better rate so I thought I won't use the premium person I will try the HFM… Read more

at Ashgrove. I called 4 times left 4 messages she never called back. I dropped into the branch - she's out we'll have her call you. She never called. I tried Toowong - left a message the HFM didn't call me back. I went to a small bank - they woman there had my application approved in 2-3 days and she answers the phone whenever I call. This was a year ago. I can't describe how disappointing my Westpac experience was.

Hopeless credit dept – Applied to Westpac as I have been banking with them for 50 years for a small loan $150,000 to cover some renovations on my existing home valued at nearly $3M + I have sizeable steady income, have done for 30 years, no mortgage, no debts and a high credit ranking. Due to their lack of understanding and therefore not understanding my application and… Read more

them not asking the right questions to satisfy their requirements, they just then rejected my application, they gave reasons that were completely incorrect, showed me they did not understand the application at all. I own a lot of assets in various properties & am financially secure. I offered for them to speak to my accountants who could explain my situation and what I was trying to achieve but they chose not to do this and just rejected my application. I have been thoroughly disgusted by their attitude to long standing customers with plenty of assets, I even worked forthis bank for 5 years, I really feel let down by them and will not be loyal to them in the future. Lisa,

New loan application - SLOWwwwwwwwww – Westpac Loan's department must be run by sloths. It has been 6 weeks since my application was submitted and I'm still waiting for it to be 100% processed and approved. If I could give 0 stars I would. For those looking to apply, walk away and apply somewhere else that will process your loan within a reasonable amount of time. Show details

I will give minus point for Westpac home loans, the turnaround time is ridiculous slow – I will give minus point for Westpac home loans, the turnaround time is ridiculous slow and they have no response to my complaint, and delayed my settlement so much. it is really bad and the worst bank in the market for home loan. Never ever use Westpac no matter how low the interest rate it offers, not worth it at all Show details

5 months with no real answers – Applied for a small loan (30K) for home renovations, on top of our mortgage, which is substantially below the 80% LVR Minimal communication about the process, got a rollercoaster of answers over 5 months. Yes, no, maybe, yes, should be fine, yes, no. The Home Finance manager dropped the loan application/process for about 2 months because they… Read more

assumed someone else was in contact, only found out again because I followed up.

Looks like this is recurring problem within Westpac

You'll be Waiting Weeks! – The turnaround time for Westpac is ridiculous. We were been waiting 5 weeks for them to process our signed contract and to provide a letter of authority to commence construction. They claim to be inundated with loans but seem to be happy to take on more than they can chew. Apparently it takes 45 days for them to even touch a file, which according… Read more

to our broker, she has never seen any other bank do. Sadly, we found this out too late. The lowest rates don't mean the best customer service!

Refinance nightmare- Stay Away – If I could leave no stars i would. We are already with Westpac are only refinancing to obtain 35% LVR so minimal compared to property value and have been refinancing since Mar 20. That's right we are nearly onto 12months refinancing. Absolutely disgusting. Show details