Ratings
One of the oldest Australian banks, Westpac is also counted amongst the four major banking organisations in Australia. Headquartered in Westpac, Sydney, it provides an extensive range of banking and wealth management services. Through its unique portfolio, Westpac supports a client base of 13.9 million.
| Lenders | Rate of Interest | Comparison Rate | Ratings | |
|---|---|---|---|---|
 Westpac Banking Corporation | 5.84% - 6.79% | 7.04% - 7.65% |
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Pros
Strict lending policies.Signup Fees.Customer Support.
Cons
Home Loan for Self-Employed.High Property Value for First Home Buyers.Strict Age Restrictions.Westpac Home Loan is a financial product provided by Westpac, a multinational bank with offices in Australia and New Zealand. Westpac was founded in 1817 and is one of Australia's four major banks. A Westpac Home Loan can help people buy, refinance, renovate, or invest in a new home. Westpac home loan interest rates are affordable, and a variety of flexible features can make it easier for consumers to manage their home loan budget. Westpac also provides online resources, home loan calculators, and individualised advice to help customers make loan decisions.
It is necessary to know the pros and cons of a bank before making a weighted decision like applying for a home loan. The pros and cons of Westpac home loans are given below.
Westpac home loan rates are not the only feature of the lender. Westpac home loan has many alluring features that add to its attractiveness. These features are mentioned below.
To avail of the best Westpac home loan rates, the applicant must pass through the following parameters set by the bank. The applicant must be:
Apart from the affordable Westpac fixed home loan rates, the bank also provides their customers with a hassle-free Westpac home loan application process. To apply for a Westpac home loan, a borrower must follow the below-mentioned steps.
Borrowers must give particular information when applying for a Westpac home loan. They must make sure to have all of the following documentation ready.
The UM Oceania platform is an online financial service-providing platform that allows customers to make informed decisions by using various guides and tools. One such tool is the Westpac home loan calculator. This tool can be used multiple times by a user to gain insight on their Westpac mortgage rates. The Westpac home loan calculator requires users to enter their loan amount, interest rate, repayment frequency and loan tenure.
Westpac home loan borrowers can contact the bank by phoning the customer service centre. Customers can also visit a local branch or request a call back using the online enquiry form. Customers can resolve their queries related to Westpac home loan rates in the following manner.
8 am – 8 pm AEST Monday - FridayWestpac home loans come with an option of fixed and variable interest rates.
You can borrow up to 95% of the value of the property with a Westpac home loan.
The loan generally gets disbursed within a few working days.
Westpac will strike up the repayment process for six days if you miss a repayment. If it doesn’t clear for 14 days, then the over-limit amount to be paid will be interest rate plus 5% p.a.
Westpac offers its customers 24×7 applications, prompt customer service, Westpac mortgage rates options and tools like various Westpac home loan calculators.
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