Major dangles new discount carrot

by Adam Smith23 Apr 2013


A major bank has launched a fresh round of discounting to entice borrowers.
Westpac has announced to its broker network that it will be offering new discounts on its Flexi First Option home and investment loans. The discount will see borrowers receive an additional 21bp life of loan discount, bringing the the product's variable rate from 5.86% to 5.65%. The promotion - which the bank said would run "until further notice" - also offers to waive the $600 establishment fee.
Westpac general manager of broker distribution Tony MacRae said many brokers and their clients "simply want a low rate basic home loan with no up-front or ongoing monthly fees".


  • by Positive Broker 23/04/2013 2:37:12 PM

    Nearly there Westpac.

  • by Broker 23/04/2013 4:46:32 PM

    Westpac will need to do much more than that to win any business from me. they burnt that bridge years ago and have done zero since to rebuild it.

  • by Jeff 24/04/2013 11:02:11 AM

    Too many back office errors for me. Dont have that issue with the other majors. Have no foothold or brand value in SA anyway.