Westpac slashes 3 and 5 year fixed rates

Westpac has cut its three and five-year ‘home and investment property loan’ rate by a respective 10 and 50 basis points.

Westpac’s Tony MacRae said the cuts were to ensure “we are fundamentally a sustainable and a competitive lender.”

The fixed rate products allow additional repayments of up to $30,000 over the term. Borrowers can secure these current low rates for up to 90 days by selecting the ‘Fixed Rate Lock In’ option.

Source: Broker News