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Line of Credit Home Loans - Westpac - Equity Access Loan

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Call 1800 466 050
Westpac
Comparison Rate 7.76%
Amount $200,000
Term 30 years
Monthly Payment Est. $1,420.41
Total Amount Paid Est. $515,400
Establishment Fee $600.00

7.66%

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Loan Features for Westpac - Equity Access Loan
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.
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.

This loan is suitable for
Self Employed with 2 years tax returns (including current year) and financials to be supplied, salary and wage earner.

Home Loan Loan Term
Revolving facility repayable on demand

Home Loan Loan Size
Minimum loan amount $25K ($150k on Pro Packs)
No Maximum where LVR is <80%

For mortgage insurance - LVR 90-97% refer to Westpac's Lenders Mortgage Insurance Requirements page within IntroducerNet for Max LVR/loan amount based on Postcode Category.

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Home Loan Repayment Type
Interest Only or Line of Credit
Funds can be accessed via internet, telephone, B-pay, cheque, over the counter, card

Repayment Options
Monthly repayments

Extra Repayments
Payments can be made with no restrictions

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Split Loan Facility
Yes

Offset
Not available.

Redraw Facility
Not applicable - can draw up to maximum approved credit limit.


LVR for Line of Credit Home Loans - Westpac - Equity Access Loan

Owner Occupied Maximum LVR 87%
Investment Maximum LVR 87%
Construction Maximum LVR NA
Refinancing Maximum LVR 87%
Maximum LVR 87% (65% for larger country postcodes - refer to lender for postcode classifications)
Please refer to 'Lender Manual' for Higher Priced Property LVR Changes
Premier Advantage Package benefits available.
$150K<$250K 0.40% p.a. discount
>$250K 0.70% p.a. discount
Nil Establishment fee
Premier Advantage Package fee is $395.

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Fees for Line of Credit Home Loans - Westpac - Equity Access Loan

Establishment Fee Single $600 (Nil on Pro Pack)
Establishment Fee Combination Loan $750
Premier Advantage Package fee is $395.
Additional valuation fees: Independent valuers - for quote contact lender.Monthly Maintenance Fee Single Loan $10
Combination Maintenance Fee $5
Excess Transaction Fee $2 per withdrawal in excess of 15 per month free
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
Switching Fee $300
Outward Dishonour Fee $40
Smart Pay available for Equity Access Loan Plan 2
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
repayment where they request to close their loan.Customers will only be charged one DEF per combination or split facility.
Guarantor Fee $200

 
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Ratesonline.com.au is Australia’s most comprehensive home loan comparison website. We assist you to compare Refinancing, variable home loans, fixed home loans, amongst others and Choice Lend Home Loans, aussie home loans, St George Home loans, ANZ home loans, Westpac Home Loans, NAB Home Loans, Commonwealth Bank home loans plus more to find the best home loan and solution for your needs.

Ratesonline.com.au gives you the full picture by providing you the most information from a wide range of products and services within the banking and finance sector. Alternatively our mortgage and finance experts will assess your individual circumstances to then simplify all the intricacies of each home loan and or insurance policies to find the best possible solution for you.

Ratesonline.com.au understands that choosing the right home loan is a difficult and time consuming exercise. Our financial experts recognise this and are here to guide you in the right direction to find the best home loan policy and rate that reflect your needs, whether an investment home loan or a first home loan.

Ratesonline.com.au gives you the full picture by providing you the most information from a wide range of products and services within the banking and finance sector. Make your choice on homeloans, variable home loans, fixed rate amongst others and Choice Lend Home Loans, aussie home loans, St George Home loans, ANZ home loans, Westpac Home Loans, NAB Home Loans, Commonwealth Bank home loans plus more (view our home loan lenders) to make an informed decision with Rates Online. You can also use our home loan calculators to assist you with your decision.
The comparison rate applies only to $200,000 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.