Variable Rate Investment Property Loan

For more information
call 131 900

Designed for investors who want a flexible loan that can cater to their changing needs, the Variable Rate Investment Property Loan has a broad range of options.

At a glance
Essential details
Options
Features

At a glance

Access to a full range of loan options
Payments of interest only are available for periods of up to ten years
'Low doc' version available.

Essential details

Interest rate	Variable rate at 6.91% pa¹ Comparison rate at 7.05% pa*
Establishment fee	$750
Loan maintenance fee	$8 monthly loan maintenance fee
Loan term	Up to 30 years
Repayment basis and cycle	Principal, Interest and Fees Interest Only available up to 10 years.
Repayment frequency and method	Monthly, fortnightly or weekly by Direct Debit (preferred) for Principal, Interest and Fees loans Monthly by Direct Debit only for Interest Only loans
Additional repayments	Additional repayments allowed at any time without penalty

Back to top

Options

Combination loan	Split your loan between fixed and variable to give you a balance between flexibility and certainty.	Yes
Premier Advantage Package	Bundle your home loan with your regular banking in order to enjoy a wide range of savings on Westpac products.	Yes

Back to top

Features

Portability	Gives you the ability to change properties while maintaining the same loan account. Usual security criteria apply.	$300 per move
Progress draws	Allows you to draw funds when building for payments to builders and other contractors, so interest costs are reduced. Drawings must be completed within 12 months.	$300 covers all
Redraw	Gives you same day access to any available funds (for payments you have made over and above the normal scheduled payments) in your account.	$10 for each redraw
Repayment holidays	Gives you the option of skipping full or partial repayments while you are ahead of your required payments.	Fee free
SmartPay	This option is not available on this loan.	N/A
Top-up	Allows you to increase your loan if you need further finance. Usual lending criteria apply.	$400 each
100% Offset	This option is not available on this loan.	N/A
Parental leave	This option is not available on this loan.	N/A
Reduced Repayment	This option is not available on this loan.	N/A

Back to top

1. For new business originated from 21 March 2005. A rate of 7.01% pa applies to loans originated prior to 21 March 2005.

Got a question about Home Loans?

General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Consider our disclosure documents, which include Product Disclosure Statements (PDS) for some products. The PDS is relevant when deciding whether to acquire or hold a product. View our ABN & RSE Numbers for Superannuation entities.

By accessing and viewing this website you agree to be bound by the Terms and Conditions of this website.

* The comparison rate for each of the home loan products contained on this page are based on a secured loan of $150,000 over a term of 25 years.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Details of the comparison rate schedule in respect of these home loan products can be obtained from any of our branches.