Lender

Lender Name

BANKWEST

Product Name

RATE TRACKER HOME LOAN

Product Type

VARIABLE/ INTRO RATE

Interest Rates

8.60%  YEARS 1 AND 2

Comparison Rate Schedule

Latest Interest Rates

Compare Other Lenders

Redraw Facility

Online Redraw facility available No redraw fee no minimum redraw amount. $0.25cents for internet transaction applies for accounts other than BankWest savings accounts
Over the counter :Minimum amount $1K redraw fee $50

Fees

Application Fee $700 (Includes 1 valuation and prepare all documentation) 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

Exit Fees

Discharge Mortgage Fee Doc Prep  $300

Discharge Mortgage Settlement Attendance Fee WA Only  $300

Valuation Fees.

Standard valuation fee and Doc prep fee included in application fee.

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

Target Market

The BankWest Rate Tracker Home Loan is an introductory rate for 24 months. At the end of the introductory period the rate will revert to BankWest's Lite Home Loan Rate. The average of the big four banks' standard variable rates is calculated monthly by BankWest

Repayment Type

Principal & Interest
Interest-only option available 5 Years.
12mth maximum if construction.

Repayment Options

Monthly, Fortnightly or weekly
Interest Only Loan repayments only be made monthly
Additional lump sum repayments at any time.

Repayment Method

Payments can be made via Fast Phone BankWest Online Banking or Bpay ATM Cards access is available on this home loan for deposits only.
Deposits can be made to the home loan via the Australia Post Giro Post network.

Extra Repayments

Additional repayments permitted
Early payout:  NIL

Special Offers

All BankWest Rate Tracker deals MUST be submitted electronically.
The Rate Tracker home loan rate is 1.00% p.a. lower than the average standard variable rate of the Big Four banks.

Term

1 Year to a maximum of 30 years.

Loan Size

Minimum $100K
No maximum

Mortgage Insurance

Required on loans greater than 80% LVR

Acceptable Income

Self Employed applicants to provide last 2 years financials, Salary and Standard wage earners. Rental income. Dividends from shares and long term deposits.

Offset

Offset:  N/A

Product Change

Switching available for $350

Statements

Issued  6 monthly

Portability

Available for $350

Split Loan Facility

Split Loan Facility:  is available, LITE loan must be min of $20k
Application Fee of $500 applies if fixed split part of Lite Loan.

Special Notes

Pay Anyone and BPAY allowed from Home Loan. 25cents Pay Anyone/20cents BPAY