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Westpac Home Loan

Westpac Bank home loan offers a wide range of home loan products and services to its customers not only in Australia and New Zealand (NZ) but also world wide. Whether you’re a first-time buyer, investor, or homeowner wanting to refinance, Westpac has a wide range of products and services to provide mortgage solutions for all. The bank gives out five simple steps while acquiring a loan. The first step is to calculate your deposit. Generally the insurance is around 20% or even less of the price of purchase. The second step is to calculate each individual's borrowing capacity. West bank calculators come very handy in calculating the rate of interest applied on the home loan amount desired. The third step is of selecting the right kind of loan suiting your family needs and requirements. Westpac bank home finance offers a comparison table with the help of which you can compare between different home loan packages. The fourth step would be of obtaining a pre approval, which means, you will be treated as a serious borrower. Finally, the fifth step would be of a final approval from the bank and final settlements of loan amount.Westpac’s Premier Advantage Package was awarded Best Home Loan Package 2007 by Money magazine.

Westpac Home Loan Package



The different kinds of housing loans available are:
  1. Combination loan
  2. Rocket repay home loan
  3. Bridging home loan
  4. Equity access loan
1. Combination loan: Combination home loan combines the security of a fixed rate of interest with a variable interest rate. It gives you the freedom of splitting the loan amount in two parts. One being the fixed rate and the second being the variable rate. The fixed rate offers protection during rising rates and the variable rate allows you to repay the amount without any extra charges.

2. Rocket repay home loan: Rocket repay home loan was awarded the best home loan type in the year 2007 by the Money Magazine. In this, you can deposit your savings and salary in transaction account with a link to the home finance. The balance will slowly get reduced thus repaying your loan amount. This allows you to save the interest rate and also save the number of years which will go in repayments.

3. Bridging Home Loan: Bridging home loan helps you in financing your purchase while you are still busy selling your current property. The interest rate for the duration of the loan can also be capitalized.

4. Equity access loan: Equity aces home finance give you a flexibility in repayments and time. This loan is suitable for an amount of $25,000 which is to be borrowed. It gives you 80% of the property value in order to renovate you existing house.

Besides, there are special benefits and features of Professional Packages, like up to 0.70% off the standard variable rate and 0.20% off fixed rate loans. There are discounts on insurance and financial planning appointements. Low Doc Loans are competitive in nature and no BAS required on loans up to 60%.




Westpac Home Loan Rates

The Westpac home loan rates are available at fixed rate of interest and floating rate of interest. The fixed interest rate for 1 year is charged at 6.19% per annum, for 2 years it is charged at 6.99% per annum, for 3 years it is charged at 7.19% per annum, for 4 years it is charged at 7.84% and for a period of 12 years it is charged at 8.24% per annum. The variable rate of interest depends on the housing loan amount and the repaying capacity of an individual. You can also change over from a fixed rate of interest to a variable interest rate if you feel that the repayments are becoming a burden on you and your family. The bank also charges extra fees for switching over from one interest rate to the other.

Westpac Home Loan Calculator

Westpac bank home loan also offers important tool called the repayment calculator with the help of which you can calculate the rate of interest charged on the amount applied. The calculators are available on their official website and can be used by anyone. In case of any doubt the customer service department is always present to solve all your problems. Please note that the amount shown in the calculator is just an estimated amount and it should not be mistaken for the actual repayment.

Westpac Home Loan Application

Westpac home loan application form should be filled up for being eligible for a home loan. The application form is available at the Westpac Bank. All the necessary details such as present income (net and gross), family size and monthly expenses should be filled in the application form. The bank has all the right to reject any application form if it feels that the applicant will not be able to repay the loan amount. However, the bank does offer an option of decreasing the loan amount depending on the financial condition of the applicant. The home loan officials will also let you know about the fees and pre approval charges if any.

Westpac Home Loan Contact

You can contact the Westpac bank home loan department by dialing 132 032 from anywhere in Australia. The bank's official website provides facilities for filling up a feedback form and sending the same to the bank's concerned department. The customer service executives will get in touch with you as soon as possible. For more details on Westpac Home Loan you can contact the home loan centre at 131 900 or log on to the link given below:

http://www.westpac.com.au/internet/publish.nsf/Content/PBHL+Home+Loans


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Westpac Home Loan Application Form

Westpac Home Loan Package

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