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Westpac Premium Option by Westpac
Westpac Premium Option
Institution : WestpacTheir Blurb
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Our View
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 50% of the interest repayments for six months while the new one settles in.
Pros
- Low variable rate
- Redraw facility
- Parental leave for 6 months
Cons
- High loan application fee
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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 | 0.00 |
| Application Fee | $ 600.00 |
| Interest only Payments | Yes |
| Administration Fee (monthly) | $ 8.00 |
| Draw Down Loan Progressively | Yes - a $200.00 fee applies |
| Valuation Fee | - |
| Loan is Transferable | Yes |
| Legal Fee | - |
| Line of Credit Available | No |
| Required Insurance | - |
