Westpac Premier Advantage Equity Access Loan

The Westpac Premier Advantage Equity Access Loan incorporates the Westpac line of credit loan in to a dynamic loan package. Borrowers who choose this option get all of the great benefits of the Equity Access Loans, a product that allows you to use the house or investment property’s equity to pay for other personal expenses, fund new investments, or make improvements to the property.

If the total balance on your home loan exceeds $150,000 it can be added to the Premier Advantage Package, which can give you excellent savings For instance, the loan application fee may be waived. You can also receive a discount on the Standard Variable Rate loan of up to 0.7%. There is an annual package of $395 that can save you literally thousands of dollars over the course of the year.

KEY BENEFITS

The following benefits are standard with the Equity Access Loan and also available when included in the Westpac Premier Advantage Package.

Additional Payments

This feature allows you to make additional payments on your mortgage balance so you end up paying it off more quickly. There are no penalties or limits.

Redraw

A redraw allows you to take out funds that have already been paid into the mortgage account. What you can remove is limited by whether you’ve paid ahead on the loan.

Take A Repayment Holiday

You can suspend payments on your home loan for certain period of time so you can hold on to that money if you have paid more than your schedule repayment amount.

Interest Only

You have option of only paying the interest on your mortgage for up to 10 years without paying the principal.

Low Doc Available

The Equity Access loan has a low doc feature that lets borrowers who are self-employed get the financing they need to buy a home by supplying basic income records.