Westpac Premium Option
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Moneybuddy says
The Westpac Premium Option home loan has a variable interest rate and redraw facilities if you need cash. Take a break from your repayments with a holiday period as long as the balance is lower than the loan amount. Parental leave lets you save **% of the interest repayments for six months while the new one settles in.
The Basics
Interest type -
Headline interest rate p.a. -
Max LVR -
Annual fee -
The cool stuff: features
Draw down loan progressively Yes - a $200.00 fee applies
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 Yes
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 variable rate
- Redraw facility
- Parental leave for * months
Cons
- High loan application fee
More from Westpac
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