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Westpac announces new home loan offers

by Huntley Mitchell8 minute read
The Adviser

Westpac is offering interest rate discounts, a refinance rebate and an extension of a current offer to celebrate the start of the spring season.

The major bank has made a life-of-loan discount of 64 basis points on its Flexi First Options Home Loan and Flexi First Investment Loan, taking the interest rates to 4.19 per cent and 4.46 per cent respectively. The rate discounts include a waiver of the $600 establishment fee.

Westpac is also offering a $1,250 refinance rebate for owner-occupier and investor loan applications that are conditionally approved by 30 November 2015 and settled by 29 February 2016.

Only one rebate is available per new property refinance from another lender, and is not applicable for residential lending originated under family or company trust.


Furthermore, Westpac has extended its offer to pay the mortgage insurance premium for new owner-occupier home loan applications with LVRs of up to 85 per cent that are submitted and unconditionally approved by 5 October 2015 and settle by 31 December 2015.

All three offers cannot be used in conjunction with each other, Westpac added.

Tony MacRae, Westpac’s general manager of third-party distribution, said customers are the big winners with the bank’s spring home loan offers.

“Spring is our key home loan season and our supporting campaigns provide great value for customers, especially those borrowers that are looking to pocket some savings,” he said.

[Related: AMP cuts variable rates by more than 30 basis points]

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