Westpac offers 89 basis point introductory home loan discount

Westpac, in a memo sent to mortgage brokers, has announced it was introducing a new Flexi First Option Home Loan and Flexi First Investment Property Loan offer for a limited time, to replace the existing Flexi First offers in market.

New principal-and-interest owner-occupied loan applications will receive an 89 basis point introductory discount for the first three years of the loan.

This would revert to a 45 basis point discount for the remaining loan term.

New principal-and-interest investment loan applications will receive a 96 basis point introductory discount for the first three years of the loan.

This would revert to a 52 basis point discount for the remaining loan term.

Westpac’s new Flexi First Option discounts came into effect Tuesday 23 August, the Australian Broker website advised.