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.
Special refinancing offer
Westpac is currently offering a $1,250 rebate for borrowers who refinance to a Westpac Premier Advantage Package home loan. The offer does not apply for borrowers who refinance from St.George, Bank of Melbourne, BankSA or RAMS, and an annual package fee of $395 applies. The minimum loan amount for the offer is $150,000.
Other terms and conditions may apply.
| Product Name | Westpac Fixed Options Home Loan Premier Advantage Package |
|---|---|
| Interest Rate Type | Fixed |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $150,000 |
| Maximum Loan Amount | $10,000,000 |
| Minimum Loan Term | 1 year |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 95% |
| Mortgage Offset Account | No |
| Loan Redraw Facility | Yes |
| Loan Portable | Yes |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Available as equity loan/line of credit | No |
| Repayment Type | Principal & Interest and Interest Only Options |
| Application Fee | $0 |
|---|---|
| Ongoing Fees | $395 p.a. |
| Discharge Fee | $350 |
Pros
- $0 application fee.
- Make extra payments up to $30,000 and redraw these funds during the fixed term without penalty.
Cons
- There is a $395 annual package fee.
- A $350 discharge fee applies when you pay off your home loan.
Things to consider about the Westpac Fixed Rate Premier Advantage Package
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.
The Premier Advantage Package comes with an annual fee of $395 allowing for the fee, rate and other discounts involved.
Features of the Westpac Fixed 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, discounts off interest rates for loans and bonuses on interest rates for savings.
- 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.
Fees
- 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 for the Westpac Fixed Rate Advantage Package Home Loan
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.
Enquire about this home loan
I want to have this product, can you hold 3.88% until my property settled on 26-7-17?
Hi Eddy,
Thanks for reaching out. Just to confirm, you have reached finder.com.au and not actually Westpac.
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 here and check what other options you have.
I hope this has helped.
Cheers,
Liezl
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.
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
if I borrow 300,000 what is the repayment of interest plus principle for 30 yrs?
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.
Could you please provide me an interest rate for home loans
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.