Westpac Flexi First Option Investment Loan
- Thread starter DEC
- Start date
If you're asking why the interest rate is different from the comparison rate, it's because the comparison rate factors in the cost of the $600 application fee (using the assumption that it's a $150,000 loan over 25 years with no variations to repayment schedule).
As to what's not to like, this is Westpac's basic product. It doesn't have an offset account (like most basic products out there), but otherwise it's reasonably fully featured (also like most basic products out there). There's plenty comparible products with compeditors that are cheaper. Westpac isn't the most compeditive lender on price.
BTW, you should translate, "Pay only for the features you use," as, "We'll charge you extra for any changes you want to make".
Attached is a comparison of the basic loan offerings for several lenders, also assuming a loan amount of $150,000 over 25 years. This does not imply that one lender is more appropirate than another as individual circumstances will dictate this.
As to what's not to like, this is Westpac's basic product. It doesn't have an offset account (like most basic products out there), but otherwise it's reasonably fully featured (also like most basic products out there). There's plenty comparible products with compeditors that are cheaper. Westpac isn't the most compeditive lender on price.
BTW, you should translate, "Pay only for the features you use," as, "We'll charge you extra for any changes you want to make".
Attached is a comparison of the basic loan offerings for several lenders, also assuming a loan amount of $150,000 over 25 years. This does not imply that one lender is more appropirate than another as individual circumstances will dictate this.
Basic loans are only useful for small loan sizes. You'll usually find the larger discounts for pro-packs easily outweigh the fees on larger loans.
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