Westpac cuts two year fixed rate home loan to 4.99%

 If you want to review your loan call Danny on 02 9290 2777, or email him on danny.luu@liquidityfinance.com.au

Westpac announced it will reduce its two year fixed rate mortgage to 4.99% (with Premier Advantage Package).  The new offer represents a cut of 0.4% on the current two year fixed interest rate.  The new rate takes effect from Thursday 7 February 2013 and will be available for both new and existing customers.

This places Westpac as a market leader among the major banks and is Westpac's lowest offer on two year fixed rates since April 2009.

Effective Thursday 7 February 2013, the fixed rates will be as follows:

Term	Current Rate (Stand Alone)  % p.a.	New Rate  (Stand Alone) % p.a.	New Rate  (Premier Advantage Package)  % p.a.	Change %
1 year	5.69	5.69	5.49	-
2 year	5.59	5.19	4.99	- 0.40%
3 year	5.59	5.59	5.39	-
4 year	5.89	5.89	5.69	-
5 year	5.89	5.89	5.69	-
6 year (IPL only)	7.00	7.00	6.80	-
7 year	7.50	7.50	7.30	-
9 year (IPL only)	7.50	7.50	7.30	-
10 year	7.50	7.50	7.30	-
12 year (IPL only)	7.60	7.60	7.40	-

Note:  Fixed Rate SMSF Investment Property Loans have changed by the same amount, and remain at
a premium of 0.35% above the standard carded fixed rates.

The comparison table below shows Westpac as the market leader with the lowest fixed rates amongst the majors for 2 and 5 year fixed loan terms:

Lender	1 year fixed rate (packaged)	2 year fixed rate (packaged)	3 year fixed rate (packaged)	4 year fixed rate (packaged)	5 year fixed rate (packaged)
Westpac	5.49	4.99	5.39	5.69	5.69
CBA	5.19	5.29	5.29	5.64	5.69
ANZ	5.34	5.34	5.39	5.84	5.84
NAB	5.24	5.34	5.29	5.64	5.84