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Media releases

Westpac cuts three and four year fixed rate home loans

 

25 July 2014

  • New packaged rates see reductions to 4.99%
  • Reductions take effect from 30 July 2014.

Westpac has provided a further boost to home-owners by cutting the interest rates on its packaged three and four year fixed rate mortgages, which takes both of the two new rates to 4.99%.

The new offer is effective from Wednesday 30 July 2014 and represents a cut of 0.1% on the current three year packaged fixed rate loan and 0.5% on the packaged four year fixed rate mortgage.

“I’m delighted that we have been able to reduce the interest rate on our three and four year fixed rate mortgages, which follows the cut earlier this week in our five year fixed home loan rate,” said Gai McGrath, Westpac’s General Manager of Retail Banking.

“I know these new rates will be very appealing to those customers who are looking to lock in their repayments over the longer-term. Our aim is to be competitive at the same time as being able to provide certainty to customers for whom a fixed-rate home loan suits their particular circumstances.

“It also allows them to plan for the future as they look to own their home sooner and this is one way that we can help them do that.”

Note to Editors:
The offer of the new three, four and five year fixed rate home loans of 4.99% include a discount of 0.2% under Westpac’s award-winning Premier Advantage Package. As well as the discounts offered, the benefits of the package also offer free loan increases, switching and portability, a range of annual fee-free credit cards, no account keeping fees on deposit accounts and discounts on other products including our market leading Home and Contents insurance. The new packaged three, four and five year home loan rates are available to new and existing customers until further notice.