Lender

Lender Name

BANKWEST

Product Name

FIXED RATE HOUSING LOANS

Product Type

1,2,3,4 and 5 YEARS FIXED

Interest Rates

Latest Interest Rates

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Target Market

A choice of Principal and Interest or Interest Only Fixed interest rate housing loans for customers purchasing residential property for owner-occupier or investment purposes.

Repayment Type

Principal & Interest
Interest Only

Repayment Options

Weekly, Fortnightly or Monthly

Interest Only - Monthly Only

Option 1

The borrowers accept the Fixed Rate Application and Agreement and sign the appropriate form and collect the fee.

LH15 Fixed Rate Cap  Application and Agreement

Or

LH17 Company Fixed Rate Cap  Application and Agreement

Option 2

The borrowers decline the offer and all borrowers sign the Fixed Rate Cap Fee disclaimer.

By signing the Fixed Rate Cap Application & Agreement and paying a fee the customer ensures the rate is capped for a period of 3 months (from application).

The Fixed Rate Cap Fee:

Must be paid by the customer upfront at application stage. (This fee cannot be financed into the loan).

Is calculated at 0.15% of the total loan amount (including fees financed into the loan).

Guarantees the rate is capped for 3 months.

Is non refundable. (The only exception is if the Bank declines the loan).

Repayment Method

Weekly, fortnightly, or monthly by PP or PDC
Interest Only - Monthly Only

Extra Repayments

Principal reductions maximum of $5,000 pa or part thereof over and above the minimum monthly instalment.

Special Offers

BankWest Auto-Approved Credit Card

Introducing the BankWest Auto-Approved Credit Card -where every

time you sell an approved home loan, you can simply invite the

customer to apply for a credit card, which will be automatically

approved. There are only a few simple requirements to qualify for this

fantastic cross sell:

It is a new home loan to BankWest (not a refinance or increase of a BankWest loan)

It is a personal home loan (not for business)

Customer(s) have no existing BankWest credit card(s)

The Home Loan is approved by BankWest

If any one of these conditions is not satisfied, it cannot be auto-approved. It will be assessed in full.

On all Home Loan Products  the Auto-Approved credit card limit is $3,000.

Term

1, 2, 3, 4 or 5 years

Loan Size

Minimum: $20,000
No Maximum.
Loans above $1mil to $1.5mil LVR 90% - must have multiple security
Loan Types Principal & Interest Equity Line component limited to $750,000

Mortgage Insurance

Metropolitan: Required on loans greater than 80% LVR.

Acceptable Income

Acceptable income: Self employed the last 2 years financials for all related parties where possible. Individual directors and any guarantor involved in the deal. Salary and wage earners.

Fees

Application Fee $500 (Includes 1 valuation and prepare all documentation) BankWest Lite Home Loan customers will be refunded the full cost of their application fee on the third anniversary of their loan.

Application Fee in South Australia $350

Note Valuation for properties >than $1million contact lender for quote

Loan Maintenance Fee  NIL

Valuation Fee  If the valuation fee is above $200  or if the customers legal costs are above $300 the customer  will be required to pay the additional costs

Discharge Mortgage Fee Doc Prep  $300

Discharge Mortgage Settlement Attendance Fee WA Only  $300

Progress payments  $80

MasterCard Lite  Annual Fee is $49 after the first year , where it will be waived if taken out with homeloan.

Transactions  $6 per month if the account balance falls below $1000

10 free electronic transactions per month after that $0.65 per electronic transaction

MasterCard Lite Statement is issued monthly

Valuation Fees

For all States, the maximum fee that will be absorbed as part of the application fee for the first valuation is as follows:

Western Australia $175 + GST Queensland $200 + GST New South Wales $200 + GST Tasmania $200 + GST South Australia $175 + GST Victoria $200 + GST Canberra $200 + GST Northern Territory $210 + GST

Note Valuation for properties >than $1million contact lender for quote

Company / Trust Fee $300

Rework fee $100 to be charged when a customer initiates a change to the terms of their application after Loan documents have been issued.

Express Courier Fee $7.87 (payable for all non WA Based Housing Loan)

Settlement Fee $50 applicable to East Coast Only

Offset

40% Offset available

Redraw Facility

Home loan access to any surplus funds accumulated on the loan fees and conditions apply

Product Change

Not available

Statements

Issued 6 monthly
Duplicate Statement Fee
Customers who request additional statements printed with original (includes faxes) will pay a revised fee of $4 per statement.

Portability

Yes

Split Loan Facility

Yes

Special Notes

Rural Residential  will be considered for strong applications, Location please refer to Lender will be looked at case by case

Please note if customer requires Offset account that relevant box is ticked on Loan Application so appropriate paperwork is sent to customer with Loan Contract.