Finware Focus

21 March 2014 - Westpac Rate Increases

In response to the change in the OCR, Westpac are making the following rate changes effective from Friday, 21st March:



  • Choices Floating/Offset for under 80% LVR is increasing by 0.10% (Minimum of 20% equity and salary credit to a Westpac transaction account)
  • Choices Floating/Offset for over 80% LVR is increasing by 0.25%
  • Choices Everyday is increasing by 0.25%

For existing Westpac home loan customers, these rates are effective from 11th April.

Check out the new rates in iLend™.

Westpac Product

Initial Rate

+/-

Choices Everyday

6.00%
6.49% if LVR > 80%

0.25%

Choices Everyday Lo Doc

6%

0.25%

Choices Offset

5.74%
6.49% if LVR > 80%

0.10%

Floating Base Rate

5.74%
6.49% if LVR > 80%

0.10%

Floating Base Rate Lo Doc

5.74%

0.10%

Eligibility Criteria for Standard Choices Floating rate of 5.74% on new lending under 80% LVR (or over 80% LVR exempt).

  • New and existing Westpac lending under 80% LVR (or are over 80% LVR exempt)
  • Minimum of 20% equity, salary credit to a Westpac transaction account

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