I have just had a 5 year IO loan (just under 500K) approved with Westpac at 4.14%. Westpac today just came out a new offer with 3.99% for first 3 years, then revert back to 4.43% after 3 years. Just wondering whether people here prefer to have intro rate, and then refinance it off prior to 3 years is up. Or they prefer to have life of loan rates. There are obviously pros and cons on each, but I just want to hear your thoughts.