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ISCOVER
Staff Reporter
Proving the majors are ready and willing to lend, one the big four has come to market with a home loan rate below 5 per cent.
Yesterday Westpac provided a significant boost to home owners by cutting 40 basis points from its packaged two year fixed rate mortgage, taking the new rate to 4.99 per cent.
According to the bank, the new rate is a market leader among the major banks and is Westpac’s lowest offer on two year fixed rates since April 2009.
“As our customers and mortgage broker partners have seen in this volatile and highly competitive market, interest rates move around a lot and for those home owners who are looking for security and peace of mind about their loans and monthly repayments this offer delivers both for a significant period of time,” Westpac’s general manager mortgage broker distribution Tony MacRae said.
“I’m particularly pleased that we are able to offer the most attractive two year deal to our mortgage broker partners and home loan customers in the market place amongst the major banks. Yet again, Westpac is leading the way.”
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