Westpac today announced a reduction in its variable home loan (owner occupied) and residential investment property loan rates by 0.25%. It also announced a reduction in variable rate small business loans by 0.25%. The effective date is 23 May, 2016.
This will bring the headline owner occupier home loan variable rate to 5.43% per annum (comparison rate 5.57% per annum*) and the headline residential investment property variable rate to 5.70% per annum (comparison rate 5.84% per annum*).
George Frazis, Chief Executive of the Consumer Bank said today’s decision was good news for home loan customers and those looking to buy a new home. “Helping more Australians’ move into home ownership remains the top priority for
Westpac’s Consumer Bank, and today’s announcement is good news for customers.”
