No Westpac borrower will lose their home

Westpac’s chief executive officer Gail Kelly has denied that mortgage customers of Westpac could be put into financial trouble as a result of the bank’s move to raise rates by 0.45 per cent on its standard variable mortgage products.

"Look, interest rates remain very low, so no customer will lose their house as a result of this," Mrs Kelly said.

"We encourage customers to ring us directly, to communicate with us directly through our branches, through our bank managers, through our contact centres and through our senior leadership directly," she said.

"And we will talk to our customers, explain the basis of the decisions we make and actually provide additional assistance should that be required."

Source: Herald Sun