This was posted 10 years 5 months ago, and might be an out-dated deal.

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Westpac Home Loan 5 Year Fixed Rate 4.99% from 28/07 and 3 & 4 Year Fixed Rate 4.99% from 30/07

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Westpac Home Loan 5 Year Fixed Rate 4.99% from 28/07 and 3 & 4 Year Fixed Rate 4.99% from 30/07
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brightboyfree on 23/07/2014 - 20:43 westpac.com.au (235 clicks)
Last edited 26/07/2014 - 09:31

Westpac Home Loan 5 Year Fixed Rate 4.99% from 28/07 and 3 & 4 Year Fixed Rate 4.99% from 30/07. Nothing showing on their website yet but if you walk into any branch, they will tell you it starts next Monday.

There is a fee for each Rate Lock (Fees 0.10% of Loan amount - On an average $350,000 fixed rate loan = $350)
Establishment fee: $600. Will be waived if under PAP home loan package ($395 annual fee)
Monthly loan service fee: $8. Will be waived if under PAP home loan package ($395 annual fee)

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  • jv on 23/07/2014 - 20:46
    +4

    This is an announcement, not a bargain, it belongs in the forums…

    • brightboyfree on 23/07/2014 - 22:28
      +4

      Oh ok, didn't know that, I'm still quite new here. I saw this post: https://www.ozbargain.com.au/node/153860 so I thought it would be ok.

      • jv on 23/07/2014 - 23:25
        +1

        That belongs in the forums too.

        These are not deals or bargains, just a change in the interest rate.

        They are announcements.

  • pichka on 23/07/2014 - 20:49
    +4

    exactly

    also my gut feeling is its not due to lower costs that the rates are falling….i suspect they know something we dont…eg another market or global financial disaster is around the corner…..suck the people into paying higher raters for the long term…..rates are expected to be lowered again 0.25-0.5% in the next 12 months

    house prices atm are ridicolous….something has to give in eventually….cash up i say

    • [Deactivated] on 23/07/2014 - 21:50
      +2

      +1 million (the price people think is reasonable for a dog box).

      Disclosure: Home owner, but still thinks the state of affairs in this country with respect to shelter is an utter disgrace.

    • mlburnian on 23/07/2014 - 22:12
      -2

      calling them ridiculous is a bit over the top. you have to understand that even a young professional couple will be pulling over 200K a year, thats over 11,000 a month after tax. times have changed, housing is only affordable to those on above average wages, this is how it is in other OECD countries.

      http://www.numbeo.com/property-investment/gmaps_rankings.jsp

  • superbass on 23/07/2014 - 21:00
    +11

    let me see my crystal ball.. the next bargain post from ANZ is 4.99% home loan deal.

  • serpserpserp on 23/07/2014 - 21:02

    Not a bargain. All the banks are doing it.

    • BluBoy on 23/07/2014 - 21:31
      +1

      'All the banks'… Really?!
      I see ONE other lender doing this, out of the hundreds out there.

      For what its worth, it's more likely that lending is slowing down, and the banks are trying to get a little bit more business.

      • Steptoe on 23/07/2014 - 22:07

        NAB also

      • serpserpserp on 23/07/2014 - 22:24

        Wrong, most likely funding costs are down… For what it is worth of course….

        • lostn on 24/07/2014 - 02:42

          Businesses rarely pass on cost savings to customers. They will pass on rises in costs however.

      • Snoop on 23/07/2014 - 22:38

        I see ONE other lender doing this

        Which one, this one posted earlier… CBA

        • tomclancy on 24/07/2014 - 08:08
          +1

          Yeah but nab has it also. Just hasn't been posted as a deal (thank god)

  • Peck on 23/07/2014 - 21:52
    +13

    Why do so many people bad mouth deals that are published. Very discouraging for people considering posting a deal that might not rate through the roof. If you don't want the deal yourself, that is fine. But it may suit some one. Well done to the OP for the effort.

    • jv on 23/07/2014 - 23:27

      Why do so many people bad mouth deals that are published.

      1. Where has the post been 'bad mouthed' ???
      2. This is not a deal, it is an announcement of the current interest rate.
      • danyool on 23/07/2014 - 23:51
        +4

        an announcement of the current interest rate

        which is cheaper than their previous rate, and cheaper than what you may get elsewhere = deal

        • tomclancy on 24/07/2014 - 08:13

          If Logitech drop their RRP by $10 and all tech stores follow, should every tech stores updated price be posted as a deal?

        • pmupsinep on 24/07/2014 - 17:33
          +1

          @apate: Don't waste your time… you're not going to get anywhere arguing with people that have nonsensical logic.

  • KOBH on 23/07/2014 - 21:52

    Low interest rate, but houses aren't cheap in Sydney. The last time I've checked was about 1.5M.

  • zzyss on 23/07/2014 - 22:15

    Dammit. Fixed my loan about a month ago at a higher rate.

    • jackspratt on 24/07/2014 - 01:12

      Thanks for letting us know.

      Can you complete the picture by telling us which financial institution?

  • lostn on 24/07/2014 - 02:43

    I fixed it for 2 years at this rate early last year, so i'm not sure if they will let me extend it because I am mid contract already.

  • Fixit on 24/07/2014 - 06:55

    Which Bank (Yeah Commonwealth) had a story on a Current Affair last night saying they would offer a 5 year fixed loan of 4.99%

  • altomic on 24/07/2014 - 08:52

    Warning : Rant ahead. sick of the big banks. For years they had a virtual quadopoly and gouged customers with fees. In the last 1-2 years I've noticed a leap in advertising by banks which profess how friendly and customer focused they are. Suddenly they drop home loan exit fees (previously manifestly excessive and entrapping) and they are every person best friend. Stuff them. Big banks, no thanks.

  • spacejase on 24/07/2014 - 10:37
    +1

    @altomic
    mate most of us would agree

    problem is there aren't many alternatives
    most of the micro and small lenders are underwritten by the big banks anyway

    • martyn on 28/07/2014 - 14:33

      I am in the process of switching to State Custodians at 4.59% variable, happy with them so far.

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