Westpac Introduces 3 year Fixed Rate of 6.25%

Westpac has introduced a  3 year fixed Special at 6.25% effective from 09 May 2014.

This matches the move downwards to the same rate from ASB last week.

In addition Westpac are relaxing their eligibility criteria for high LVR lending with a move down in the loan amount required for new customers wanting to borrow over 80% from $500k to $400k.