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Westpac cuts three-year fixed home loan rate to 6.59% p.a. for Spring Home Loan Celebration

 

19 August 2011

Westpac has cut its three-year fixed-rate home loan by 0.2% to 6.59% as part of its Spring Home Loan Celebration, offering a great home loan package deal to customers looking for a mortgage to buy a new home.

The Spring Home Loan Celebration package means that, for a limited time, Westpac customers can enjoy a package of incentives on new home loans in our award-winning Premier Advantage Package including a discount of up to 0.8% p.a. off the variable rate on a variable rate home loan, an attractive rate of 6.59% p.a. on a three-year fixed-rate home loan, and a 20% discount on the first year of your home and contents insurance on your new home.

Westpac General Manager Retail and Regional Banking Jason Yetton said that the Spring Home Loan Celebration package showed that Westpac put its customers first.

“Customers are the big winners with the Spring Home Loan Celebration package,” Mr Yetton said.

“The discount of up to 0.8% p.a. off the variable rate on a new loan in our Premier Advantage package means our customers could save thousands, while the fixed option means that Westpac customers not only get a market leading rate but also enjoy the certainty of a fixed repayment amount for three years.”

“In addition, the Premier Advantage Package means customers also enjoy the benefits of a fully-featured home loan, including no top up fees to increase your loan limit (unavailable on fixed rate loans), no switching fee, no portability fee for moving your security, a range of annual fee-free credit cards, no account keeping fees on selected savings accounts and discounts on other products including our market leading Home and Contents Insurance,” Mr Yetton said.

The Spring Home Loans Celebration offer includes: 

  • A discount of up to 0.8% p.a. off the variable rate on a new variable rate home loan of at least $500,000 with Westpac’s award-winning Premier Advantage Package 
  • An attractive rate of 6.59% p.a. on a new three-year fixed-rate home loan of at least $150,000 with Westpac’s award-winning Premier Advantage Package 
  • A 20% discount on the first year of your new home and contents insurance for your new home, with Westpac’s award-winning Premier Advantage Package 
  • A free APM Property Profile report when you meet with one of our home finance experts 
  • $0 establishment fee on your loan 
  • $0 monthly service fee on Westpac Choice transaction account with no minimum monthly deposit required 
  • $0 annual fee on a selected packaged credit card

 “Westpac’s Premier Advantage Package has a clear advantage over the competition when it comes to efficiency, home loan portability and loan flexibility,” Mr Yetton said.

“That’s why 80% of our mortgage customers take up this award winning package. In addition, 75% of all customers who took a mortgage with Westpac cited product features, simplicity and good customer service as their primary reason for choosing Westpac.”

Mr Yetton said that Westpac was also one of the only majors to offer flood insurance covering all types of floods at all levels of cover.

“Covered means covered – we’re paying over $100 million in claims to our customers with Westpac Home and Contents insurance who were affected by floods in NSW, Queensland and Victoria this year,” Mr Yetton said.

Westpac has 480 local Home Loan Finance Managers located all over Australia who understand their local market and who will find the right solution for the customer.