Major named 'best provider' of loans

by Caroline Dann02 Oct 2012

Analyst Canstar has named Westpac the best provider of loans for first home buyers in 2012 in its annual review.

Canstar said in a statement Westpac provided "a range of product features, flexibility, competitive rates, loan affordability and the ease of access to online resources."
It reviewed 311 products from 70 lenders nation-wide.
Tony MacRae, Westpac's general manager, mortgage broker distribution, said the intermediary channel was crucial to its success in securing the award for the third time in five years.
"It's the personalised service and advice from our broker partners that our first home buyer customers value," Mr MacRae said.
Meanwhile, Westpac announced an extension of its Spring Home Loan Offer until the 2nd of November to "celebrate" the victory.
This includes a 5.54% fixed rate on its three-year home loan.


  • by Confused 2/10/2012 10:39:47 AM

    I thought Canstar compares over 1,908 home loans from 110 lenders?? Were the good ones left out in this analysis?

  • by Diomedes 2/10/2012 10:47:01 AM

    What the....? Really WBC, hmmm canstar you need to publish exactly how you measured each product/lender as the result seems flawed.

  • by PeterT 2/10/2012 11:42:38 AM

    Westpac's variable products are flexible, but not very compeditive on rates. Their fixed rates are compeditive but by definition not flexible.
    What planet are Canstar on? Less than 1% of our loans end up with Westpac.