Exciting news is here as Westpac launches and expands their 'Greater Choices' home loan product. Formerly known as the Westpac 'Warm Up' loan...

With a new maximum loan amount of $50,000, this offering aims to assist customers in creating a more comfortable, sustainable, and energy-efficient home life. By providing interest-free financing for five years, Westpac is committed to helping individuals transform their living spaces into warmer, drier, healthier, and more eco-friendly environments.

What's New with the Westpac Greater Choices Home Loan?

Westpac has broadened the scope of the Greater Choices home loan to include additional purposes, based on the needs and aspirations of their customers. In addition to the existing options, the loan can now be utilised for the following purposes:

1. Electric and Hybrid Vehicles: Embrace the future of transportation by using the home loan to purchase an electric or hybrid vehicle. This allows customers to reduce their carbon footprint and enjoy the benefits of sustainable mobility.

2. Hot Water Heat Pumps: Upgrade your water heating system with an energy-efficient hot water heat pump. By utilising renewable energy sources, individuals can reduce energy consumption and lower utility bills.

3. Rainwater Tanks: Harvest rainwater and utilise it for various household purposes such as gardening, toilet flushing, or even laundry. Rainwater tanks not only conserve water but also contribute to a more sustainable and environmentally conscious lifestyle.

Key Features of the Westpac Greater Choices Home Loan:

The Westpac Greater Choices home loan offers the following features:

1. Interest-Free: Customers can enjoy the convenience of an interest-free loan for a period of five years. This allows them to focus on improving their homes without the burden of interest payments.

2. Maximum Loan Amount: With the increased maximum loan amount of $50,000, customers have more flexibility and resources to enhance their living spaces according to their unique requirements.

3. Five-Year Fixed Term: The loan is structured with a five-year fixed term, providing stability and predictability in the repayment plan.

4. Available to Existing and New Customers: Whether individuals are existing Westpac customers or new to their services, the Greater Choices home loan is accessible to all.

So - If you've been considering these upgrades for a while and been put off by high interest rates - Now might be the time to jump at this offering. 

Of course, standard terms and conditions apply so best to contact one of the My Mortgage team to see if you might be eligible!