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Westpac First Option Home Loan by Westpac
Westpac First Option Home Loan
Institution : WestpacTheir Blurb
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Our View
The First Option Home Loan from Westpac is a standard variable interest rate loan with options that you only pay for when you use them. You have access to redraws, repayment holidays and top-ups which allow you to increase your loan. Maternity leave lets you reduce your loan repayments by half for six months.
Pros
- Low interest rate
- Holiday Rate
- Redraw facilitiy
Cons
- Activation charge applies to most options
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| The Facts & Figures | |
|---|---|
| Min Loan Amount | - |
| Repayment Holiday | Yes |
| Introductory Term | - |
| Max Loan Amount | - |
| Ability to Split Loan | No |
| Max LVR | - |
| Loan Type | Standard variable rate loan |
| Extra Repayments | Yes |
| Minimum Loan Term | - |
| Early repayments | No |
| Offset Account Available | No |
| Maximum Loan Term | 30.00 years |
| Redraw Facility | Yes |
| Special offers | - |
| The cool stuff: features | |
| Settlemet Fee | - |
| Redraw fee | 50.00 |
| Application Fee | $ 600.00 |
| Interest only Payments | No |
| Administration Fee (monthly) | $ 10.00 |
| Draw Down Loan Progressively | $95 per draw |
| Valuation Fee | - |
| Loan is Transferable | Yes |
| Legal Fee | - |
| Line of Credit Available | No |
| Required Insurance | - |
