Professional Package Home Loans - Westpac - Equity Access $250<$500K 0.70% Disc |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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Westpac Home Loan |
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| Home Loan Product Name |
Equity Access $250<$500K 0.70% Disc |
| Interest Rate |
7.16% |
Comparison Rate
Estimated |
7.48% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,014.12 |
Total Paid
Estimated |
$376,890 |
| Establishment Fee |
$0.00 |
| Enquire/Apply |
 
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| Target Market |
A Loan that gives access to the equity in a property for any worthwhile purpose including investments, education, holidays or cars, with a choice of repayments options.
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Can be used for any legal purpose exception of business purposes for the customers tax record keeping purposes, as Equity Access loan can be split into different accounts as part of a combination loan package. |
| Acceptable Income |
Self Employed with 2 years financials to be supplied, salary and wage earner. |
| Loan Term |
Revolving facility repayable on demand |
| Loan Size |
Minimum loan amount $25K
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No Maximum |
| Repayment Type |
INTEREST ONLY or Line of Credit
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Funds can be accessed via internet, telephone, B-pay, cheque, over the counter, card |
| Repayment Options |
Monthly repayments |
| Extra Repayments |
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| Split Loan Facility |
Yes |
| Offset |
Not available. |
| Redraw Facility |
Not applicable - can draw up to maximum approved credit limit. |
| LVR |
Owner Occupied Maximum LVR 92%
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Investment Maximum LVR 92%
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Construction Maximum LVR 0%
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Refinancing Maximum LVR 92%
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Maximum LVR 92% (65% for larger country postcodes - refer to lender for postcode classifications)
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Loan to Security Ratio (LSR) between 80 and 85% refer to Flyer in Lender Documents LMI Folder.
Premier Advantage Package available
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Requirements as follows:
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Borrowings $150K or more
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Annual Package Fee $395 |
| Fees |
Establishment Fee Single $600
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Establishment Fee Combination Loan $750
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Additional valuation fees: Independent valuers - for quote contact lender.Monthly Maintenance Fee Single Loan $10
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Combination Maintenance Fee $5
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Excess Transaction Fee $2 per withdrawal in excess of 15 per month free
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Smart Pay available for Equity Access Loan Plan 2 - Smartpay will be included as part of the 15 free Transactions that is the 16th or more transactions will incur the Excess Transaction Fee
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Switching Fee $300
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Outward Dishonour Fee $40
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Smart Pay available for Equity Access Loan Plan 2
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Deferred Establishment Fee $900 will only be charged if a customer closes their loan with Westpac within 4 years of origination for reasons such as re-financing to another institution, selling their property or early
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repayment where they request to close their loan.
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Guarantor Fee $200 |
| Enquire/Apply |
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| Other Professional Package Home Loans |
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| Other Westpac Home Loan Products |
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This Comparison Rate applies only to $150,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.
This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.
The information provided in this website is a guide only and may not be complete for your purposes. ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
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