Those looking for a new three of five-year fixed term mortgage deal might like to take a look at what BankWest has to offer after it reduced its interest rates on the products.
The
interest rate on a selection of BankWest mortgage products has decreased.
The organisation - which offers
BankWest savings">BankWest savings accounts among other options - has lowered the rate on three and five-year fixed term deals.
People will be able to get the three-year offering for 7.38 per cent, which has gone down from its 7.64 per cent rate, while the five-year package is now available at a level of 7.89 per cent instead of 8.09 per cent.
A spokesman for BankWest noted that the changes were made to bring the organisation more in line with the rates offered by its big four rivals.
But those after a cheaper three-year product alternative might like to check out the National Australia Bank's (NAB) Fixed Intro product.
Earlier this month, the NAB announced it did not harbour any desires to increase the interest rate on its
credit cards or term deposits but it would maintain its variable rate mortgage at 7.24 per cent, the Herald Sun reported.
By Emma North
