Line of Credit Home Loan - Westpac - Equity Access Loan

Comparison Rate	6.56%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,258.88
Total Amount Paid Est.	$457,440
Establishment Fee	$600.00

6.46%

Target Market
A Loan that gives access to the equity in a property for any worthwhile purpose including investments, education, holidays or cars, with a choice of repayments options. ,
Can be used for any legal purpose exception of business purposes for the customers tax record keeping purposes, as Equity Access loan can be split into different accounts as part of a combination loan package.

Acceptable Income
Self Employed with 2 years financials to be supplied, salary and wage earner.

Home Loan Loan Term
Revolving facility repayable on demand

Home Loan Loan Size
Minimum loan amount $25K ($150k on Pro Packs) ,
No Maximum where LVR is <80%

Home Loan Repayment Type
INTEREST ONLY or Line of Credit ,
Funds can be accessed via internet, telephone, B-pay, cheque, over the counter, card

Repayment Options
Monthly repayments

Extra Repayments
Payments can be made with no restrictions

Split Loan Facility
Yes

Offset
Not available.

Redraw Facility
Not applicable - can draw up to maximum approved credit limit.

LVR for Line of Credit Home Loan - Westpac - Equity Access Loan

Owner Occupied Maximum LVR 92% ,
Investment Maximum LVR 92% ,
Construction Maximum LVR 0% ,
Refinancing Maximum LVR 90% ,
Maximum LVR 92% (65% for larger country postcodes - refer to lender for postcode classifications) ,
Please refer to 'Lender Manual' for Higher Priced Property LVR Changes
Premier Advantage Package benefits available. ,
$150K<$250K 0.40% p.a. discount ,
>$250K 0.70% p.a. discount ,
Nil Establishment fee ,
Premier Advantage Package fee is $395.

Fees for Line of Credit Home Loan - Westpac - Equity Access Loan

Establishment Fee Single $600 (Nil on Pro Pack) ,
Establishment Fee Combination Loan $750 ,
Premier Advantage Package fee is $395. ,
Additional valuation fees: Independent valuers - for quote contact lender.Monthly Maintenance Fee Single Loan $10 ,
Combination Maintenance Fee $5 ,
Excess Transaction Fee $2 per withdrawal in excess of 15 per month free ,
Smart Pay available for Equity Access Loan Plan 2 - Smartpay will be included as part of the 15 free Transactions that is the 16th or more transactions will incur the Excess Transaction Fee ,
Switching Fee $300 ,
Outward Dishonour Fee $40 ,
Smart Pay available for Equity Access Loan Plan 2 ,
Deferred Establishment Fee $900 will only be charged if a customer closes their loan with Westpac within 4 years of origination for reasons such as re-financing to another institution, selling their property or early ,
repayment where they request to close their loan.Customers will only be charged one DEF per combination or split facility. ,
Guarantor Fee $200