17th June westpac reduce assessment rate for new loans

Posted Monday, 17 June 2019 at 13:13 by Shape Home Loans
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Westpac set to reduce assessment rate on new OWNERS loan

Hot off the press. 

The current assessment rate ( the interest rate the bank use too stress test the loan) will be reduced from 7.25% down to 6.50%. But only for owners loan with P/I repayment.

On average this will increase your servicing by $40,000 to $60,000 on a standard 30 years loan of $500,000.

More details too follow.