I constantly check my Westpac app, but still has not seen rate reduction. (I thought Westpac is going to fully pass on the rate today, obviously not.)
Does anyone have the same issue?
Will Westpac Pass on The Interest Rate Cut?
Mick1234 on 04/03/2025 - 22:09
Last edited 04/03/2025 - 23:20 by 1 other user
Last edited 04/03/2025 - 23:20 by 1 other user
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I directly apply the loan with WBC but could not see any changes on my rate so far…..
Wait and see tomorrow then. Definitely not a fixed rate loan?
Your new rate won't be visible until Thursday https://www.westpac.com.au/personal-banking/home-loans/manag…
Also, WTF are you doing with one of the Big 4?
They have the highest borrowing capacities. Small lenders have lower rates cause they have lower risk tolerances.
My new rate is available today, but my repayment amount has not changed.. Any ideas?
Many lenders don't typically reduce repayments automatically. Just means you're paying your loan off quicker. If you want to reduce your repayments, you'll likely need to call your lender.
you'll likely need to call your lender.
Pretty sure you can just alter repayment amount in the app of bigger institutions.
😲
Likely will come through tomorrow. This may differ if you have a broker negotiated rate and won’t apply if you have a fixed rate.