Westpac Fixed 4 Years

The Westpac 4-Year Fixed Rate Home Loan is one of the bank’s Fixed Option Loan products. The four-year fixed rate term attached to this one give you added flexibility and the benefits of reliable payments and stable interest rates. The other fixed rate loans offered by Westpac include with term lengths of 1 through 10 years.

Like other fixed rate loans, once this term ends you will have the option of either re-setting a fixed term or letting the mortgage return to the Standard Variable Rate. Additionally, this loan comes with some basic benefits that make it more comprehensive.

If you want the security that comes with knowing what you will pay, this will probably be the loan for you.

KEY BENEFITS

The following key benefits are available with all Westpac Fixed Rate Home Loans:

Redraw Facility

When you need funds one way to get them is to redraw them from your mortgage. You can take funds up to the amount you paid over the regular payments.

Additional Payments Option

You can extra payments on mortgage loan. However, fixed rate loans limit that amount to $25,000 a year before early repayment fees are assessed.

Interest Only

This feature lets you pay only the interest you own on your mortgage without paying any principal. In most cases, the term can last up to ten years if necessary.

Use The Rate Lock

This loan allows you fix your interest rates even while in the process of applying for home financing.

Repayment Holiday

This is a helpful feature when you want halt payments for a short period. In order to use it you must have already paid more than what is required in your mortgage installments.

Split Your Loan

By splitting your total borrowings between two or more loans, you utilize the benefits of each at different points.