Lender guide · Westpac home loans · Sydney
Westpac Home Loans via a Sydney Broker
Westpac can waive LMI for eligible doctors up to a 95% loan, which makes it worth a look for medical clients. I arrange Westpac loans for Sydney buyers, refinancers and investors and check them against other lenders first. Westpac is strong for medical professionals, low-deposit buyers and some self-employed borrowers, and strict on non-residents, tiny apartments and borrowers carrying big credit card limits.
Who Westpac tends to suit
Four kinds of borrower do well under Westpac's policy.
Medical professionals. Westpac can waive Lenders Mortgage Insurance (LMI) for eligible dentists, GPs, hospital doctors and medical specialists up to a 95% loan, with no minimum income. Nurses, midwives, pharmacists, vets and other listed allied health professionals can go up to 90% if they earn at least $90,000. Accountants and lawyers can also qualify at up to 90%, subject to accreditation and income checks. LMI explained →
First home buyers with a small deposit. Westpac is on the government's list of participating lenders for the 5% Deposit Scheme, so eligible buyers can purchase with a 5% deposit and no LMI. First home buyer help →
Self-employed with two years of tax assessments. For loans up to 80%, Westpac has a Fast Track option based on your last two years' notices of assessment from the ATO. Outside Fast Track, it may assess you on your latest year's income if you meet its criteria. Self-employed home loans →
People building. Westpac publishes construction loan limits of up to 95% for owner-occupiers, including LMI. Investors can go to 90%. Construction loans →
Where Westpac is strict
Non-residents. Westpac doesn't offer residential lending to non-residents. If that's you, I'll point you to a lender that does rather than waste your time.
Very small units. Westpac generally wants at least 40 square metres of internal area, not counting balconies or car spaces. Studios and compact one-bedders can fall short. Apartment loan traps →
Credit card limits. Westpac counts a share of each card's full limit as a monthly cost, not just what you owe. A card you never touch still reduces what you can borrow. Cancel the ones you don't use before you apply. How borrowing power is worked out →
How using a broker works with Westpac
I'm a broker, not Westpac staff. Before anything is lodged, I test your situation with my other lenders too. If Westpac comes out ahead, I prepare the application, answer its credit team's questions, handle the valuation and stay with you through to settlement.
If Westpac looks like the right fit, I can also put in a discount request to its broker pricing team. Rates change often, so I don't list them here. Ask me for today's pricing.
What it costs you
Nothing for my service. The lender pays me an upfront commission when your loan settles and a smaller trail while it stays active, and I'll explain how I'm paid on your loan. Westpac's own fees, government charges and any LMI still apply, and you'll see them all before you sign.
Run your numbers first: Borrowing power calculator → · Repayment calculator →
Westpac home loan questions
Should I apply at a Westpac branch or use a broker?
Both routes end at Westpac's credit team, so the rate and fees come down to what Westpac offers you. Through me you also get Westpac checked against other lenders. Sometimes Westpac wins. Sometimes it doesn't, and I'll say so.
My loan's already with Westpac. Is a broker any use?
Yes. I can ask Westpac to review your current rate, or compare your loan with what other lenders would offer. If Westpac sharpens your rate, you may not need to move at all.
How long does Westpac take to approve a home loan?
Plan on a few days. When I checked on 12 November 2026, Westpac's broker guide showed 1 business day for a first look at a full application with every document in, and the tracker I use showed about 3 days to conditional approval. If every document and the valuation are in upfront, that first assessment can be the formal approval. The 5% Deposit Scheme can add a day.
This is general information only, not personal financial advice. Lender policy changes from time to time, so check with me before relying on any of it. Bridge Finance is a mortgage broker and is not affiliated with or endorsed by Westpac. Lender names are trademarks of their owners.
Westpac on your shortlist? Check it against the rest first.
Book a free 30-minute chat. I'll look at your income, deposit and plans, check how Westpac's policy treats them, and compare Westpac with other lenders. No cost, no obligation.
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