Westpac Fixed Rate Premier Advantage Package Home Loan Review | Finder

Westpac Fixed Option Premier Advantage Package

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Get a discount off your interest rate whilst enjoying the comfort of it being locked in

Fixed rate home loans can be an option for people who want the certainty of knowing what the repayments are going to be. With this loan you get to package a fixed rate with other financial products.

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Expert review

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Review by


Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The Westpac Fixed Rate Premier Advantage Package Home Loan is available to owner-occupied borrowers. An investment loan is available as well. There is also the Premier Advantage Package variable and line of credit loans.

With no maximum loan amount you just need your loan-to-value ratio approved by Westpac. Part of the package is a Westpac Choice transaction account which, if you don't already have one, can be opened when you apply.

About this loan

What are the features and benefits of the Westpac Fixed Option Rate Premier Advantage Package Home Loan?

  • Package discounts: With this package you receive discounts on your home loan as well as other Westpac banking products. Benefits include no annual fee on your credit card, no monthly service fee on your Westpac Choice account, plus discounts off interest rates for loans, other fee waivers and discounts on insurance products.
  • Loan-to-value ratio (LVR): You can borrow up to 95% LVR if you pay lender's mortgage insurance (LMI). To avoid LMI you will just need to keep your loan amount below 80% LVR.
  • Flexible Repayments: You choose to make repayments weekly, fortnightly or monthly. Your repayments can be principal and interest or you can opt for interest only for a period of up to 15 years, conditions apply. You can also make extra repayments up to $30,000 in the loan term without penalty.
  • Redraw: You can redraw any extra payments you make without having to wait for it to revert to a variable rate.
  • Rate lock. Your fixed interest rate can still change up until the date your loan settles. You can pay a fee of 0.10% of the fixed loan amount and lock in the rate for up to 90 days from date of application.

What fees and charges come with this loan?

  • Annual fee: $395. This fee replaces other account keeping and establishment fees.
  • Discharge fee: $350. This is for the closing of all your home loan accounts.

How to apply

If the Westpac Fixed Rate Advantage Package Home Loan interests you click the green 'Go to Site' or 'Enquire' button on this page. You will then be securely transferred to the Westpac website or asked to fill out your details for a mortgage broker to contact you.

A lending expert from Westpac or a mortgage broker will then be in touch to discuss your lending needs. If you prefer to speak to someone in person you can visit your local Westpac branch.

Some of the information they may ask for during the application process is:

  • Details and confirmation of your income, savings and assets;
  • Details of your monthly expenses and other debts;
  • Details of the property you wish to use as security.

Home Loan Offers

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8 Comments

    Default Gravatar
    Ilbe
    June 10, 2017

    I want to have this product, can you hold 3.88% until my property settled on 26-7-17?

      Default Gravatar
      Liezl
      June 10, 2017

      Hi Eddy,

      Thanks for reaching out.

      This offer is currently ongoing but Westpac may withdraw or change it at any time. It will be good to give Westpac a call and express your interest and see if they can accommodate your request.

      Meanwhile, you can check our fixed-rate home loan comparison page and check what other options you have.

      I hope this has helped.

      Cheers,
      Liezl

    Default Gravatar
    danny
    June 4, 2017

    I am looking at fixed rate premier advantage package at the moment, and planning to borrow $320,000. How much deposit do I need for my mortgage repayments to remain under $2000 per month? Thanks.

      Default Gravatar
      Jonathan
      June 4, 2017

      Hi Danny!

      Thanks for the comment.

      You can click “Enquire Now” green button to have a lending expert from Westpac get in touch. They will ask some details to properly come up with a refinancing offer fit for you.

      Hope this helps.

      Cheers,
      Jonathan

    Default Gravatar
    Zara
    June 27, 2016

    if I borrow 300,000 what is the repayment of interest plus principle for 30 yrs?

      Avatarfinder Customer Care
      Marc
      June 27, 2016

      Hi Zara,

      thanks for the question.

      You can use our loan repayment calculator for an estimate of what the repayments would be for this loan.

      Cheers,
      Marc.

    Default Gravatar
    Sushila
    December 4, 2015

    Could you please provide me an interest rate for home loans

      Avatarfinder Customer Care
      Marc
      December 4, 2015

      Hi Sushila,
      thanks for the question.

      The ‘Details’ tab on this page shows the interest rates for this home loan.

      I hope this helps,
      Marc.

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