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5 Year Flexi First Option Home Loan 3.79% (Comparison 4.26%) @ Westpac (First Time Buyers)

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5 Year Flexi First Option Home Loan 3.79% (Comparison 4.26%) @ Westpac (First Time Buyers)
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Store RepLWithCashback @ With Cashback on 15/03/2018 - 13:07 westpac.com.au (329 clicks)
Last edited 15/03/2018 - 15:16 by 1 other user

Flexi First Option Home Loan is Westpac’s basic home loan with a lower interest rate than our other home loans. Requires full documentation and offers below are for First Time Buyers.

3.79% (comparison 4.85%) - 3 Year Fixed Option Home Loan
4.09% (comparison 5.33%) - 3 Year Fixed Investment Property Loan
3.79% (comparison 4.26%) - 5 Year Flexi First Option Home Loan
4.09% (comparison 4.70%) - 5 Year Flexi First Investment Property Loan

  • $0 Establishment Fee
  • $0 Monthly Account Fees

Westpac Eligibility Criteria:

  • The First Time Buyer offers are only available for First Time Buyers only. First Time Buyers are applicants applying for their first home loan for their first property.
  • For joint home loan applications, all applicants must be First Time Buyers.
  • These offers may be varied or withdrawn at any time.
  • Offers are available for new lending only.
  • Offers are available on Principal and Interest Repayments only.
  • Not available to company and trust account holders.
  • First Time Buyer offers can be taken together however cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts.

Talk to your mortgage broker or contact us for further details:

With Cashback
1300 685 008
www.withcashback.com.au
Same loan, same bank, more cashback!

Credit Representative Number 502385 of Australian Credit Licence 498325

Financial Home Loan Loan Mortgage Broker

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closed Comments

  • rad000 on 15/03/2018 - 13:08
    +5

    This will go down well

    • jv on 15/03/2018 - 13:09
      +2

      Ex NAB employees maybe ???

      • Store RepWithCashback @ With Cashback on 15/03/2018 - 13:10

        Hi JV, this offer is available with Mortgage Brokers accredited with Westpac.

      • tallmantim on 15/03/2018 - 13:46

        hair dressers and gym owners?

    • Store RepWithCashback @ With Cashback on 15/03/2018 - 13:09
      -6

      Hi Rad000. Yes, this is very good for any first home buyers.

      • jv on 15/03/2018 - 13:11
        -1

        Yes, this is very good for any first home buyers.

        How can you claim that without knowing people's individual circumstances?

        Are you familiar with the financial services laws in Australia?

        • Store RepWithCashback @ With Cashback on 15/03/2018 - 13:13
          -2

          Of course subject to review. I recommend anyone interested to review with their mortgage broker to determine if this not unsuitable for them.

        • jv on 15/03/2018 - 13:14
          +1

          @WithCashback:

          That is not what you said above.

          You are giving financial advice without knowing people's individual circumstances.

        • Cluster on 15/03/2018 - 13:16
          +6

          So, people either have to refrain from any comments about any financial services offered on OzBargain, or include a disclaimer for every comment that they aren't a financial advisor?*

          *This comment was made for entertainment purposes only. No financial advice was given nor implied, under all circumstances, in all states and territories in Australia. Acting on this comment is at the reader's sole discretion. The service being commented about may or may not be a good deal. Decide for yourself. I'm not your daddy. Look at your own circumstances and make your own decisions. You're an adult.

        • jv on 15/03/2018 - 13:21
          +6

          @Cluster:

          So, people either have to refrain from any comments about any financial services offered on OzBargain

          When they are selling financial products, then YES !!! It's the Law.

        • Cluster on 15/03/2018 - 13:22

          @jv: The post has now been appropriately updated with an associated link.

  • Wilburre on 15/03/2018 - 13:17
    +3

    Should OP use "associated" or "store rep" for this deal? The deal links to westpac, but OP states it is available through brokers and OP appears to be associated with the broker/finder website linked in the body of the post.

    • Store RepWithCashback @ With Cashback on 15/03/2018 - 13:21
      +1

      Hi Wilburne. I believe you may be right, I have updated our reference just in case.

  • fertiliser on 15/03/2018 - 13:23
    +8

    for anyone even considering this, check out the comparison rate and then move on.

    • dcep on 15/03/2018 - 13:25

      any better deal out there for 5 Year Fixed @ 3.79% (CR 4.26%) ?

    • dasher86 on 15/03/2018 - 14:46

      the comparison rate depends on the life of the loan.
      By all means is applicable if you stay with Westpac for the the full term. A lot of people will re-finance after the fixed term is over..

      • fertiliser on 15/03/2018 - 15:01

        the "full" term of this is 5 years though. It would be impossible to determine a comparison rate otherwise, as there are so many options for you to be moved to once the fixed term expires.
        the difference between 3.79% and 4.85% will be comprised entirely of fees

  • batrarobin on 15/03/2018 - 13:28
    +2

    Tough crowd!

  • Skramit on 15/03/2018 - 13:36

    So….what the best fixed rate offering for non-first home buyers?

    • Store RepWithCashback @ With Cashback on 15/03/2018 - 13:40

      @Skramit There are a numbers of products out there that may suit your needs. Check with your broker for more information.

  • cocomelon on 15/03/2018 - 13:42
    +4

    HSBC has it 3.59%

  • pantsparty on 15/03/2018 - 13:46
    +6

    Why is the comparison rate so much higher? Lots of fees?

  • danielh on 15/03/2018 - 13:50

    Please note that the deal does not seem to include a 100% offset (which IMHO a must have) but when you click through to the How to Save Tab it looks like there is one but when you click on THAT link it talks about a different product.

    Bit confusing.

    • Store RepWithCashback @ With Cashback on 15/03/2018 - 14:11

      Hi Danieth. You are right. There is no offset with this particular fixed rate

    • syba on 15/03/2018 - 14:12
      +2

      I have never seen a fixed rate loan with offset. That isn't to say they don't exist, however they usually only apply for variable rate loans.

      • [Deactivated] on 15/03/2018 - 14:16
        +1

        There is one with BankSA or possibly Adelaide Bank, but given the rates are high it's pointless.

        Best to split with fixed set at the amount you could never possibly repay in the period and variable/offset for the portion you are likely to repay.

        This rate is really good.

    • picklewizard on 15/03/2018 - 15:13

      Offset accounts are far from a must have… so maybe you have a few thousand in an offset at any given time. Over the life of a loan, you'll save $5k or so.

      Offset accounts, vs redrawing, are a ruse by the banks to make your loan last longer by making it easier to 'redraw' small amounts because it's still your everyday transaction account.

      I don't have an offset account - I put extra into my loan, instead of having that extra in an easily-accessible offset account.

      Offset accounts exist only to make you take longer to pay off your loan.

      • danielh on 15/03/2018 - 15:51
        +1

        I have a significant amount in my offset for my main property as I cannot claim anything on it. I find that having an off-set account helps enforce both a strong rigour in saving in this low interest and volatile world but really DOES reduce the amount of repayments over the life of a loan by a significant amount.

        My monthly interest now is about $180 but if it was not for my off-set, it would be close to $1,300. I also love that I can put in and take out whatever amount I want without charges. This is useful for when you plan to make a deposit on another property or other larger purchases.

        I guess if you have very minimal spare cash and are living on a paycheck to paycheck sort of cycle, the concept of a 100% offset account may seem silly so a good low interest rate fixed term loan might be the better option until you sort yourself out with a better job/promotions etc.

        Different people, different life situations. Just choose the right package that will suit your particular situation.

      • AG_ACT on 15/03/2018 - 16:20
        +2

        I don't think a blanket statement like this is valid. Depending on your personal circumstances and discipline, I very highly rate offset accounts.

        Particularly for people who are uncertain about their future and may, for example, buy a small property now, and want to buy a larger property in the future and use the existing property as an investment. You can't claim interest on redraws, but there are no laws (yet) about reducing the interest you are paying temporarily by using an offset account.

        Obviously, if you easily give into temptation, offset accounts are not for you… If you are on this site, and you have close to your weight in Eneloop batteries, you probably fall into this category :)

  • picklewizard on 15/03/2018 - 15:10

    That's not a great comparison rate…

  • 0FoxGiven on 15/03/2018 - 16:50

    I don't see the bargain/deal here. There are better deals out there

  • Dano33 on 15/03/2018 - 19:41

    Terrible comparison rates

  • pyr0maniac on 15/03/2018 - 19:48

    In which universe is this worthy of posting? Crap CR.

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