Westpac First Option Home Loan

Westpac
Headline interest rate p.a.
-
Max LVR
-
Annual fee
-

Moneybuddy says

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.

The Basics

Interest type -

Headline interest rate p.a. -

Max LVR -

Annual fee -

The cool stuff: features

Draw down loan progressively $95 per draw

Insurance details -

Loan is Transferable Yes

Line of credit available No

Product suits Owner - Occupier

The Facts & Figures

Introductory rate p.a. -

Introductory term -

Interest rate (p.a.) 1 year -

Interest rate (p.a.) 2 years -

Interest rate (p.a.) 3 years -

Interest rate (p.a.) 4 years -

Interest rate (p.a.) 5 years -

Interest rate (p.a.) 7 years -

Interest rate (p.a.) 10 years -

Interest rate (p.a.) 15 years -

Comparison rate (p.a.) 1 year -

Comparison rate (p.a.) 2 years -

Comparison rate (p.a.) 3 years -

Comparison rate (p.a.) 4 years -

Comparison rate (p.a.) 5 years -

Comparison rate (p.a.) 7 years -

Comparison rate (p.a.) 10 years -

Comparison rate (p.a.) 15 years -

Comparison rate p.a. -

Minimum loan term -

Maximum loan term -

Min loan amount -

Max loan amount -

Early repayments No

Redraw facility Yes

Repayment holiday Yes

Ability to split loan No

Extra repayments Yes

Offset account available No

Interest only payments No

The ugly stuff: fees

Application fee -

Valuation fee -

Subsequent valuation fee -

Valuation fee details -

Discharge fee -

Discharge fee details -

Legal fee -

Settlement fee -

Redraw fee -

* Important note: All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing.

Pros

  • Low interest rate
  • Holiday Rate
  • Redraw facilitiy

Cons

  • Activation charge applies to most options
 
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