Westpac Rocket Repay

The Westpac Rocket Repay Home Loan is one of the company’s comprehensive financing products. It is a variable rate home loan that includes all sorts of features that make them great options for a variety of different types of borrowers.

Some features you may find with the Rocket Repay are a 100% Mortgage Offset option and the option of paying as much extra as you want without worrying about penalties or other fees. When these two features are used together you can pay additional amounts on the loan and then you can offset your other savings against what is left on the mortgage balance. This means you can cut down how long your mortgage lasts.

KEY BENEFITS

You will find these features when you choose the Westpac Rocket Repay Loan:

100% Mortgage Offset

You may opt to use the mortgage offset feature by linking your Rock Repay Loan with a Westpac Choice Account, which lets you use your saving to reduce how much principal is left to pay.

Extra Payment Options

You may make unlimited extra payments on this Variable Rate home loan.

Repayment Holidays

Stop paying your mortgage for a short time so you can save up the money to pay other expenses. This can only be used if you are ahead on your regular payments.

Interest Only

Pay just the interest during this period so you can save money. This may go on for as long as 10 years if you prefer. No principal is due during the interest only repayment term.

Mortgage Redraw

Re-draw money that was paid into the home loan previously so they can be used for something else. You can only take what you’ve put in that exceeds the regularly payment requirements.