Westpac Home Loans - Mortgage Lender
Westpac began trading on 8 April, 1817 as the Bank of New South Wales with a single office in Macquarie Place, Sydney, in the then British colony of New South Wales. The company changed their name in 1982. Westpac trades as Bank of Melbourne in Victoria and Challenge Bank in WA.
Westpac Home Loans Loan Products
| Type of Loan |
Home Loan Information |
| Variable rate loans |
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| > Rocket Repay |
Awarded Best Featured Home Loan 2007 by Money magazine, Rocket Repay Home Loan includes an offset account, which is free from monthly service fees. This means that you deposit all your salary and savings in the transaction account which is linked to your home loan. The money is offset against your loan, effectively reducing its balance. Because interest is calculated daily, you save interest every day with every dollar left in your transaction account, and cut years off your loan. |
| > First Option |
If you want a loan with a low rate that can still give you access to the options you need, a First Option Home Loan could be best for you. First Option is competitively priced with options that you only pay for if you use them. |
| > Premium Option |
Designed for customers who want a flexible loan that can cater to their changing needs, Premium Option Home Loan has a broad range of options. |
| Line of Credit |
|
| > Equity Access Loan |
Equity Access helps you make the most of the equity that you have in your property to achieve your plans for the future faster. With Equity Access, you can access up to 80% of the value of your property to renovate, make investments or to achieve other plans that are important to you. The loan is suitable if you need to borrow an amount from $25,000. |
| Fixed rate loans |
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| > Fixed Options |
If you want the certainty of knowing your loan repayments and loan interest rate won't rise, choose a fixed rate term. Westpac lets you choose fixed rates for 1 to 5, 7 or 10 years, depending on your circumstances. Once the fixed term of your loan ends, you can choose another fixed rate or convert to the Variable Housing Rate. |
| > 1 year guaranteed |
A guaranteed low rate in the first year of your loan means you can be certain of how much your repayments will be - yet still make some extra repayments if you want. After the first year, the loan automatically converts to our Variable Housing Rate with a full range of Premium Option features - including SmartPay. |
Westpac Home Loans Branches and offices
Westpac has branches and affiliates throughout Australia, New Zealand and the Pacific region and maintain offices in key financial centres around the world.
Points of difference
Interest rate discounts
Enjoy up to 0.7% p.a. discount on selected loans under the Premier Advantage Package - just one reason it was awarded Best Home Loan Package 2007 by Money magazine.
Green home loans
Every new Westpac home loan, including Premier Advantage Package, comes with an economical living program to help reduce your carbon footprint. The program includes potential discounts valued at $1,200 to help cut your energy and water costs.
Award-winning home loans
Rocket Repay Home Loan won the " Best Featured Home Loan 2007 " Money Magazine Award.
Premier Advantage Package won the " Best Home Loans Package award 2007 " Money Magazine Award.
Good mortgage brokers understand a broad range of lender preferences and that is why it is really useful to talk to a local mortgage broker about your specific situation. They will use their knowledge and specialized software to assist you in making the most informed decision. Simply put, a mortgage broker evaluates your situation against the lenders on their panel for the best deal. More information on how to pick a home loan or how to assess the right business loan is available right here on the X Inc. site.
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