Premier Advantage Equity Access Loan Premier Advantage Equity Access Loan $250K - $499K
5.62%p.a Standard Variable
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 80% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Line of Credit, Equity, Investment, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 1 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Monthly.
- Interest Only Option
- Max Interest Only
- 30 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
- Ongoing Yearly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
$1,250 Refinance Rebate for clients applying for a new Westpac consumer Owner Occupier or Investment home loan under the Premier Advantage Package (PAP). Eligibility: - $1,250 Refinance Rebate is available for new Westpac Owner Occupier or Investment home loans under the Premier Advantage Package (PAP). - "$1,250 Refi Rebate must be noted in your application comments when submitting the application for an eligible home loan. - Only 1 rebate per property refinance will be paid regardless of the number of loans involved. - Rebate will be automatically deposited into the customers Westpac home loan account within 2 months of settlement. - Minimum loan size of $150,000. - Annual Premier Advantage Package (PAP) fee of $395 applies. - The client must either hold or be approved for a Westpac Choice transaction account in order to qualify and continue to receive the benefits of the Premier Advantage Package. - This offer can be withdrawn at any time. Exclusions: - This offer is not available for refinances of home loans within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. - This offer is not applicable for residential lending originated under family or company trusts. - Based on package eligibility this offer is not applicable for use with Flexi First Option Home Loans and Flexi First Option Investment Loans. - This offer is not applicable for Non-Residential Lending. - This offer is not available in conjunction with any other offer. SPECIAL - Extension of Premier Advantage Package offer for a limited time only. Full Doc only. Credit criteria, fees and charges apply. Terms and conditions available on request. Customer must either hold or be approved for a Westpac Choice Transaction account in order to qualify and continue to receive the benefits of the Premier Advantage Package. OTHER PRODUCT INFO: All new Premier Advantage Package application customers, in addition to an eligible mortgage product, will require a Westpac Transaction account in order to qualify for the package. The Westpac Choice transaction account is available free of monthly account keeping fees in following: - Unlimited free Westpac transactions across branches, Westpac Group ATMs, Banking and Online Banking - Access to your funds with Debit Master - Link as an offset account to your Rocket Loan to reduce interest charges Note: If a customer chooses not to have a transaction account, they will not be eligible for the Premier Advantage Package. No specified maximum loan term. Loan reviewed every 3 years for I/O or annually for LOC. Interest only repayment + fees can be capitalised if within loan limit. First 15 transactions per month are free. Customers refinancing to Westpac under PAP are eligible.
No LMI required. Foreign Income Policy Non residents - no lending permitted Temporary visa holders - no lending for foreign income, 70% LVR for applications involving AUD Australian citizens - 70% New Zealand citizens - 70% Permanent visa holders - 70% * Applications for new purchases only - any refinances or cash out are not permitted. Max LVR is 80%.
5% Genuine Savings must be validated and verified for all mortgage insured applications where the LVR is more than 85%. Land Purchase, Construction and Renovation Loans: - If the property has been held for 3 months or more then treat as an existing property holding with any equity in the property counting towards the genuine savings. - If the property has been held for less than 3 months then the original purchase and the new application can be treated as one application for genuine savings purposes. Calculate the genuine savings applicable to the total new application then deduct any genuine savings that were verified in the original purchase to leave the net genuine savings required for the new application. Proposals involving Investment loans with LVR more than 90% requires applicants to demonstrate 10% equity in another property. The 10% Equity is to be qualified using the applicants estimated Market Value of their existing residential property against the total current exposure. Current exposure is to be calculated on loan account limit and not loan account balance.