Investor Presentaiton
Australian mortgage portfolio
Mar-20 Sep-20 Mar-21
balance balance
1H21
balance
Flow1
Australian mortgage portfolio composition.
Owner occupiers driving new flows; more customers choosing fixed rates.
Mortgage asset quality
Australian mortgage portfolio and 1H21 flow by
product and repayment type (%)
Total portfolio ($bn)
445.7
440.9
443.6
42.0
■Mar-20 (Portfolio)
■Sep-20 (Portfolio)
Owner occupied (OO) (%)
59.4
60.4
62.0
73.6
■Mar-21 (Portfolio)
■1H21 Flow
Investment property loans (IPL) (%)
37.6
36.6
35.2
26.2
69
52
55
57
Portfolio loan/line of credit (LOC) (%)
2.9
2.5
2.3
0.2
22 22 22
Variable rate / Fixed rate (%)
77/23
72/28
68/32
63/37
16 15 13
18
10
Interest only (I/O) (%)
23.4
20.6
18.2
13.6
3 32 0.2
7 6 5 4
LOC
IPL-I/O
IPL-P&I
OO-I/O
OO-P&I
Proprietary channel (%)
55.5
54.8
54.2
48.2
First home buyer (%)
8.8
9.0
9.4
13.4
Mortgage insured (%)
16.1
16.0
16.1
16.1
Australian mortgage portfolio by interest rate type
(% by balances)
Variable Fixed
1H21
Mar-20
Sep-20
Mar-21
Flow1
276
275
284
367
24
24
25
25
23
23
28
28
32
Average loan size² ($'000)
Customers ahead on repayments
70
71
72
including offset account balances³ (%)
Actual mortgage losses net of
insurance ($m, for the 6 months
67
58
44
ending)
Actual mortgage loss rate annualised4
3
3
2
(bps, for the 6 months ending)
76
75
77
72
22
1H19
2H19
1H20
2H20
68
1H21
1 Flow is new mortgages settled in the 6 months ended 31 March 2021 and includes RAMS. 2 Includes amortisation. Calculated at account level, where split loans represent more than one account. 3 Loans ahead on payments exclude equity/line of
credit products as there are no scheduled principal payments. 4 Mortgage loss rates are write-offs for the 6 months ending.
71
Westpac Group 2021 Interim Results Presentation & Investor Discussion Pack
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