The war between Australia’s major lenders shows no signs of abating, with Westpac slashing rates across a number of its mortgages.

Yesterday, the major announced its plans to cut the interest on its two, three, four, five and 10 year home and investment property fixed loans.

The lender cut up to 20 basis points from the various products, taking its two year fixed rate to just 7.39 per cent from 7.54 per cent.

Westpac’s general manager broker distribution Huw Bough has indicated that Westpac seeks to increase market activity by offering a range of competitively priced products.

Source: www.theadviser.com.au

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