Herald Sun reported on February 19, Westpac admitted it had unfairly denied customers a special "fixed rate" home loan offer that was marketed throughout Australia in December. Westpac advertised the special rate in December, but some applicants were advised by customer service staff that the bank could vary the offer at any time, even after customers had signed loan documents. This triggered concerns that Westpac's advertising campaign had been misleading because the bank had refused to offer the 4.99 per cent rate fixed over three years to all applicants. The bank apologised and admitted it was genuine offer and they commited administrative errors for the customers were told the bank could vary the offer at any time, including after loan processing was done during the offer period.
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