Mortgage News

Broker News has reported that Westpac Bank has discounted 0.20% off selected customer mortgages in what appears to be a response to the negative press surrounding its large interest rate rise over the RBA. Westpac denies that this action was taken to subdue customer backlash. The Bank stated that it was simply normal customer relationship activities. Simon Reibelt from Oasis Home Loans Northern Beaches saw this response by Westpac as positive, as ongoing customer relationships and relationship building as one to keep existing customers and to generate ongoing new business. Northern Beaches mortgage holders who are Westpac customers may have received this additional discount.