Intro or Honeymoon Rate Home Loans - Westpac - Premium Option 1yr 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 |
Premium Option 1yr disc |
| Interest Rate |
7.19% |
Comparison Rate
Estimated |
9.25% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,131.12 |
Monthly Payment
Estimated |
$1,244.06 |
Total Paid
Estimated |
$449,964 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
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| Target Market |
A low introductory guaranteed rate to help with expenses associated with the purchase, construction, refinance of real estate (Owner Occupied), large home improvement, personal expenses.
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Mandatory conversion to Variable rate at the end of guaranteed rate period.
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Progress Draws allowed (licensed builder).
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A first mortgage over residential property is required as security.
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Available for new loans only.
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| Acceptable Income |
Self Employed with 2 years financials to be supplied, salary and wage earner. |
| Loan Term |
Maximum overall loan term is 30 Years. |
| Loan Size |
Minimum: $10K
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No Maximum. |
| Repayment Type |
Principal and Interest |
| Repayment Options |
Weekly, Fortnightly or Monthly. |
| Extra Repayments |
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| Split Loan Facility |
Not available. |
| Offset |
Not applicable. |
| Redraw Facility |
Not Permitted during Guaranteed Rate Period.
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Available at the end of the Guaranteed Rate Period. |
| LVR |
Owner Occupier Maximum LVR 97%
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Investment Maximum LVR N/A
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Construction Maximum LVR 97%
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Refinancing Maximum LVR 97%
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Debt Consolidation Maximum LVR 97%
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Vacant Land Maximum LVR 97%
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Loan to Security Ratio (LSR) between 80 and 85% refer to Flyer in Lender Documents LMI Folder.
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| Fees |
Establishment Fee:$600
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Loan Maintenance Fee:$8 per month
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Special Offer Admin Charge:$900
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Will apply if more than 25% of the original loan balance is repaid within the 1st year or if more than 75% of the original loan balance is repaid within the first 4 years or if the customer switches to another loan within the first four years or if a customer switches the loan into the Premier Advantage Package within the first four years.
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Switching Fee:$300 only applies after the loan has been running for 4 years
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Independent valuers - for quote contact lender.
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Progress Draws $300 (covers all draws)
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Guarantor Fee $200
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Independent valuers - for quote contact lender.
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Fixed rate Lock-in Fee of 0.15% of loan amount applicable on new loans for a period of 90 days to secure their fixed interest rate prior to loan drawdown. |
| Enquire/Apply |
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| Other Intro or Honeymoon Rate 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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