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Variable Home Loan from 2.09% (CR 2.53%), $0 Application Fee, $0 Ongoing Fees, 2 Year Intro @ Westpac (for Purchase / Refinance)

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Variable Home Loan from 2.09% (CR 2.53%), $0 Application Fee, $0 Ongoing Fees, 2 Year Intro @ Westpac (for Purchase / Refinance)
Go to Deal
Store Repfootyboy @ Blue Owl Finance on 19/05/2022 - 10:53 westpac.com.au (3086 clicks)
Last edited 27/05/2022 - 15:23 by 1 other user

Rates dropped and $3,000 cashback for refinances

Best part is these are rates after the RBA 0.25% increase has been applied!

Refinance your home loan over $250k with an LVR of 80% or less to qualify for $3,000 cashback.

This has a free and unlimited redraw, with no offset and no annual fee. With offset has $395 annual fee.

No application fee

Apply for an eligible home loan before 30th June 2022 and pay no application fee.

Our Pick Of The Rates - full list available via link

Owner occupier variable LVR under 70% = 2.09% (comp 2.53%) 2 year intro
Owner occupier variable LVR between 70% and 80% = 2.19% (comp 2.53%) 2 year intro

Investor variable LVR under 70% = 2.49% (comp 2.93%) 2 year intro
Investor variable LVR between 70% and 80% = 2.59% (comp 2.93%) 2 year intro

$0 annual or ongoing fees.

This is a honeymoon rate for 2 years. Rate will jump 0.40% after 2 years, would be a good time to consider another refinance.

Westpac currently just 3 days turnaround for loan assessments for brokers.

COMPARISON RATE WARNING
Each comparison rate is based on $150,000 over 25 years. These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.

Apply by 30th June 2022, settle by 31st August 2022. Owner Occupier loans (P&I repayments) and Investment Property Loans, with LVR+ up to 80% and min $250k loan. Flexi First Option or packaged# home loans only ($395 annual package fee). Only one cashback offer available per primary applicant within a 12 month period. Excludes refinances within Westpac Group.

Hope you find this useful,
Aidan
Owner & Mortgage Broker at Blue Owl Finance
[email protected]
www.blueowlfinance.com.au
Link to my calendar to book 15 minute appointment here

ABN 27 646 433 374 | Certified MFAA Member 230928 | Australian Credit Licence number 387025 | Credit Representative’s number 527699

Financial Cashback Home Loan Loan Refinance

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closed Comments

  • deme on 19/05/2022 - 19:34

    It says there is $195 loan registration fee

  • Tee Rex Arms on 19/05/2022 - 20:12

    No offset no thank you

    • AshFon on 20/05/2022 - 09:45
      -1

      There are no charges for redraw ..

  • B_S_D on 20/05/2022 - 07:46
    -1

    A bit confused as the description and heading says $0 ongoing fees but the description also says $395 annual package fee. So is there an annual fee?

  • OrangeBJ on 20/05/2022 - 09:22

    Can I refinance from St George? and still eligible for cashback.

    • Store Repfootyboy @ Blue Owl Finance on 20/05/2022 - 20:01

      Yes you can refinance, but no cashback from StG.

      Citibank offer $3k over $300k and $6k over $1M, give me a message!

      Aidan
      [email protected]

      • R3XNebular on 07/06/2022 - 14:58

        Sorry if he refinances from St George he wont be eligible for the cash because they are the same parent company?

        • Store Repfootyboy @ Blue Owl Finance on 07/06/2022 - 18:18

          Correct.

  • ozizoy on 20/05/2022 - 14:39
    +1

    Do they have offset account at this rate?

    • Store Repfootyboy @ Blue Owl Finance on 20/05/2022 - 19:59

      Nope! We're getting around 2.29% - 2.39% depending on your loan size.

  • oshe on 20/05/2022 - 18:45

    https://www.ozbargain.com.au/node/695814

    better comparison rate at well home loans

    • Store Repfootyboy @ Blue Owl Finance on 21/05/2022 - 08:01

      Yep, but that rate it pre 0.25% rise, so treat with caution as will be 2.10% very soon with $0 cashback.

      Aidan
      [email protected]

  • Associated[Deactivated] @ Westpac on 20/05/2022 - 23:23
    -5

    Any enquiries please feel free to email me I am the Home Finance Manager at Westpac

    [email protected]

    I can assist or find someone suitable for your needs

    • Store Repfootyboy @ Blue Owl Finance on 21/05/2022 - 07:59
      +9

      Best etiquette to create your own post than attempt to hijack others 👍

  • Taita on 21/05/2022 - 00:55

    What is the drawback of giving up an offset account considering the offer includes unlimited redraws?

    • Associated[Deactivated] @ Westpac on 21/05/2022 - 01:26
      +1

      Having to transfer money into the loan amount every single time.

      Offset account allows money to just get transferred into to reduce accrued interest daily

      feel free to email me to discuss further [email protected]

    • filmer on 22/05/2022 - 10:02
      +2

      The biggest drawback is if you use the redraw/offset to save for your next PPOR with the intent of turning your current one into an investment property. With an offset, you can take all the funds out of the offset for the deposit of your next home, and the leftover loan will be fully tax-deductible, interest wise.

      If you keep the funds on your loan with accessible redraw, the portion you redraw to pay the deposit on your next home will not be.

      If you're using the offset purely as a transactional account that gives reduces accrued interest then I believe you need to average ~10k balance to offset the increase in fees of having the offset.

  • satishvuppala on 22/05/2022 - 13:43

    Is this offer valid for refinancing if i am with a different bank?

  • Store Repfootyboy @ Blue Owl Finance on 22/05/2022 - 13:51

    Yep, this is a refinance offer.

    Aidan
    [email protected]

  • Blugok on 01/06/2022 - 09:50

    If i borrow $250k and make payment of $250k after the mortgage is setup. Will I still get the cashback rebate?
    When will we get the cashback? Is it paid to nominated acct or to th mortgage acct?

    • Store Repfootyboy @ Blue Owl Finance on 10/06/2022 - 17:12

      Yes.
      60 days.
      Nominated account.

  • Store Repfootyboy @ Blue Owl Finance on 10/06/2022 - 17:11

    For anyone still following this unbelievably popular post, Westpac increased by 0.50%, so this deal will be plus 0.50% shortly 👍

    Aidan
    [email protected]

  • Niceguy14 on 29/06/2022 - 12:20

    So Aidan, what is the Variable rate now for OO & IP? Is there any off-set option? Thanks

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