Westpac appears to be targeting investment borrowers to replenish its home lending book after cutting rates on some of its fixed rate mortgages. In a notification to brokers on Wednesday the bank said it was wiping 25 basis points off two-year fixed rate investment property loans for borrowers wanting to make interest-only repayments. This product has been repriced to 6.44 per cent, with many borrowers potentially eligible to access lower rates if their loan-to-value ratios are below 80 per cent. Westpac has also wiped 20 bps from the advertised rate for investors fixing for two years and paying principal & interest.  This product has been repriced to 6.39 per cent. These are now the cheapest investment home loans available from Westpac after the bank also reduced rate discounts on its Flexi First “life of loan” investment mortgages. Ongoing rate discounts on the Flexi First products have been sliced by 10 bps for investors on both P&I and interest-only mortgages. The prevailing rates on the Flexi First loans are now more expensive than the bank’s standard investment property loans.