Bank West Equity Access - Line of Credit
Main Features and Fees...
| Company |
|
| Interest Rate | Enquire Here |
| Products Available | Line of Credit - Home Equity |
| Offset Account | Not Applicable |
| Redraw Facility | Yes free or $1,000 minimum and $50 over the counter |
| Extra Repayments | Yes |
| Lump Sum Repayments | Yes |
| Product Change | No |
| Portability | Yes, $350 fee applies |
| Construction | Yes, $80 per progress payment - can be up to 5 progress payments |
| Split Loan Facility | Yes |
| Principle and Interest Payments | Yes |
| Interest Only Payments | Yes, up to 5 years for investment purposes |
| FEES | |
| Upfront Fees | Nil plus $60 for East Coast residence |
| Ongoing Fees | $325 yearly |
| Early Exit Fees | Nil |
| Discharge of Mortgage Fees | $600 |
Notes
Equity Access is an ongoing source of instant, low cost finance which is secured against the equity in your house. The facility is a revolving line of credit with the option of a MasterCard Debit. The loan has a fully fluctuating variable rate which can be used for personal purposes. The facility must not go in to credit at any time.
5% Genuine Savings required for
all purchase deals greater than 90%. (New Customers greater than 90%
only available on Mortgage Shredder) Please see Special Criteria for
further information.
LVR <=80% - Up to $100k
LVR >80% to 90% - Up to $50k
Documentary Evidence -
Supporting Documentation Required:
LVR <=80% - $100k plus (max cash
out is $100k where LMI is applicable)
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