For a limited time only let Naritas help you finance your first home purchase
Westpac Flexi First Option Home Loan:
- $4500 rebate at settlement.
- 4.19%p.a. (CR 4.2%p.a.)^
- Only available to buyers eligible for the FHOG (http://www.firsthome.gov.au/) who are submitting their FHOG application with their home finance application.
- Maximum LVR 95% - LMI can be capitalised to 97% LVR.
- Unlimited free transactions across Westpac branches, Westpac Group ATMs, eftpos, Westpac Telephone Banking and Online Banking (Other fees apply including for the use of non-Westpac Group ATMs and overseas ATMs.)
- $0 establishment fee and $0 ongoing fees.
- Minimum 40sqm unit size.
- For LVRs over 80% a minimum of 5% genuine savings (https://www.naritas.com.au/guides/genuine-savings/) is required.
Who is this deal suited to?
- High LVR (90%+LVR) borrowers looking to offset the costs of purchasing a new home (conveyancing, pest and building inspections, LMI, etc).
- Borrowers looking to get a sharp price on LMI: Westpac LMI at 90%LVR+ on a $350K+ loan size is between 0.2% and 0.8% cheaper for that premium than low rate lenders like ING. Source: Westpac LMI rate card: https://www.naritas.com.au/system/wp-content/uploads/Westpac…
ING LMI rate card: https://www.naritas.com.au/system/wp-content/uploads/ING-Dir…
For example: LMI premium for $450,000 loan size at 95%LVR = ~$15,480 with ING and ~$12,645 with Westpac - People who don’t qualify for low rate offers due to their high LVR (most discount offers require LVR lower than 90%) or because of their lack of genuine savings. NB: Westpac will allow up to 6 months of rental payments to be included towards genuine savings calculations if the applicant’s repayment history and credit profile is strong.
*Naritas Finance Cashback Terms & Conditions (https://www.naritas.com.au/first-home-buyer-special-4500-cas…):
- (1.) This offer is provided by Naritas Finance Pty Ltd ABN 74 096 341 061 of Level 1, 357 Military Road, Mosman, NSW, 2088 (“Naritas”) and Westpac Banking Corporation Ltd ABN 33 007 457 141 of Level 30, 275 Kent Street, Sydney NSW, 2000 (“Westpac”).
- (2.) This offer commences 2 November and closes 30 November 2015 (“Offer Period”).
- (3.) This offer is open to Australian residents only.
- (4.) A payment under the Cashback Offer (“Cashback Payment”) will be paid for residentially secured owner occupied home loans settled during the Offer Period subject to conditions 5 to 15 below.
- (5.) A borrower must purchase using Naritas to arrange a Westpac Flexi First Option Home Loan and must not be an existing Westpac Home Loan customer. A borrower’s loan application in conjunction with this Cashback Offer will be subject to Westpac’s usual credit assessment and approval processes. The borrower must be purchasing their first home, be eligible for First Home benefits (FHOG) and must submit their FHOG request through Westpac.
- (6.) The Cashback Payment is $4,500 ($3,500 from Westpac, $1000 from Naritas) where the total loan financed, either jointly or individually with Westpac is $350,000 or more.
- (7.) The initial loan application must be received during the Offer Period.
- (8.) The approved loan must be funded by 29 February 2016.
- (9.) A borrower is eligible for a Cashback Payment only once during the Offer Period. Once a loan application that is eligible for a Cashback Payment is received, no further loans which include that borrower, jointly or individually will be eligible for a Cashback Payment.
- (10.) Fees and charges apply to loans taken out under this Cashback Offer. Refer to the Westpac Loans Fees and Charges brochure https://www.westpac.com.au/personal-banking/home-loans/varia… or the Mortgage Loan Schedule for details.
- (11.) The Cashback Payment will be deposited to the loan account for the financed loan after the settlement date. The Cashback Payment will not be made to the borrower in “cash” (i.e. notes and/or coin) or cheque.
- (12.) A borrower cannot transfer or assign their right to the Cashback Payment to any other person.
- (13.) Naritas accepts no responsibility for any tax implications that may arise from the Cashback Offer. The borrower should seek their own independent advice in this regard.
- (14.) This offer is not available in conjunction with any other promotional offer Naritas has available including our ‘refer-a-contact’ promotion.
- (15.) Participation in the Cashback Offer is deemed acceptance of these terms.
Westpac Important Information:
- ^Comparison Rate. This comparison rate is based on a Flexi First Option Home Loan of $150,000 over the term of 25 years. WARNING: The comparison rate applies only to the examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw or early repayment fees, and cost savings such as fee waivers, aren’t included in the calculation of the comparison rate but may influence the cost of the loan.
- Ongoing discount offer. For new loans applied for from 1 September 2015. Offer is only available for a limited time and may be withdrawn at any time. This special offer is only available on new Flexi First Option Home Loan and Flexi First Option Investment Loans. They are independent of each other and can’t be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. Not available to company and trust account holders. Discounts do not apply to internal refinances and are not transferable between loans.
- Variable rate subject to change (and margins may apply). Credit criteria, fees and charges, terms & conditions apply.
Disclaimer: https://www.naritas.com.au/disclaimer/
Why did you put up the interest rate?