Westpac changes its fixed-rate mortgages



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Westpac has made a series of changes to its home loan interest rates, with some falling by as much as 30 basis points and others rising by as much as 15 points.

Westpac has given discounts to some new owner-occupier customers who take out the Premier Advantage Package and make principal-and-interest repayments:

Loan type

Old interest rate

Old comparison rate

New interest rate

New comparison rate

3-year fixed rate

3.99%

4.85%

3.89%

4.82%

5-year fixed rate

4.29%

4.87%

4.09%

4.79%

Westpac has also reduced some of its fixed rates for new investment customers who sign up for the Premier Advantage Package and pay principal and interest:

Loan type

Old interest rate

Old comparison rate

New interest rate

New comparison rate

2-year fixed rate

4.19%

5.37%

4.05%

5.34%

3-year fixed rate

4.29%

5.34%

4.19%

5.29%

5-year fixed rate

4.79%

5.39%

4.49%

5.26%

There are also some discounts for new investment customers who take out the Premier Advantage Package and choose interest-only:

Loan type

Old interest rate

Old comparison rate

New interest rate

New comparison rate

1-year fixed rate

4.69%

5.69%

4.39%

5.93%

2-year fixed rate

4.45%

5.82%

4.15%

5.76%

3-year fixed rate

4.54%

5.74%

4.29%

5.67%

5-year fixed rate

5.09%

5.80%

4.95%

5.74%

However, Westpac has also increased some of its mortgage interest rates.

If you’re an owner-occupier who is paying interest-only and who has the Premier Advantage Package, your interest rates have gone up:

Loan type

Old interest rate

Old comparison rate

New interest rate

New comparison rate

1-year fixed rate

4.49%

5.52%

4.59%

5.53%

2-year fixed rate

4.34%

5.43%

4.49%

5.46%

3-year fixed rate

4.45%

5.38%

4.59%

5.42%

4-year fixed rate

4.94%

5.49%

4.99%

5.51%

5-year fixed rate

5.04%

5.52%

5.09%

5.54%

If you’re an owner-occupier who is paying interest-only but who does not have the Premier Advantage Package, your interest rates have increased by a similar amount:

Loan type

Old interest rate

Old comparison rate

New interest rate

New comparison rate

1-year fixed rate

4.69%

5.85%

4.79%

5.86%

2-year fixed rate

4.54%

5.72%

4.69%

5.75%

3-year fixed rate

4.65%

5.64%

4.79%

5.68%

4-year fixed rate

5.14%

5.72%

5.19%

5.74%

5-year fixed rate

5.24%

5.71%

5.29%

5.73%

 

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