Westpac Premier Advantage Package

The Westpac Premier Advantage Package Variable Home Loan presents customers with the opportunity to bundle their home loan and transaction account together for a minimal annual fee. The home loan offers discounted interest rate on the standard variable rate making it an attractive home loan product.

Established in 1817 Westpac has a long history of servicing Australians in banking. As one of the big 4 banks Westpac is a leader in home loan products and other banking services.

The packaged home loan product provides a large number of benefits to the consumer from a 100% Offset account, lower interest rates and the ability to repay the loan without penalty.

The Advantage package is a flexible home loan solution that is increasingly popular among all types of borrowers including seasoned investors, first home buyers and owner occupiers.

KEY BENEFITS

The are a number of benefits with the Westpac home loan.

Better Interest Rates

Taking out the variable loan on the advantage package means that clients receive better interest rates than the standard variable rate. For loans between $150,000 and $249,999 the discount on the standard variable rate is 0.40%, for loans greater than $250,000 the discount is 0.70%. Having an interest rate that is lower than the standard rate is fantastic for those clients looking to reduce their home loan payments.

No Sign up Fee

When taking out the loan there is no application fee. You won’t be expected to pay to get into the home loan – that’s the way it should be.

100% Offset Feature

The packaged home loan also comes with a 100% offset account. A 100% offset account permits the borrower to deposit money into their account and reduce the balance that they pay interest on by the amount that is deposited. This is a fantastic way to get ahead on you home loan payments.

Repay the Loan Early

Want to get out of the home loan as soon as possible? No problem, the advantage home loan allows you to pay back the loan whenever you come into money without having to pay any additional fees or charges. Take back control of your home loan.

Only Pay Interest

If you are looking for a flexible home loan that does not require you to pay back the principle and interest this loan is for you. Have the option to pay interest only on the balance of the loan for up to 10 years. This is an attractive feature to a range of borrowers including investors.

Home Loan Split

Now you can have the best of both worlds. The Advantage package home loan lets you split your facility up over 2 products. Have the opportunity to take out the variable package as well as a portion devoted to a fixed Westpac product. In this instance you are minimising some rick associated with the uncertainty of variable interest rate movements.

Holiday Payment Option

Flexibility is key to a suitable home loan. The holiday payment option presents you with the opportunity to pause payments on the home loan for a short period should you find money is tight over a certain period. Note that this period is over a limited time and fees may apply.