Bankwest Simple Home Loan

General Lending Rates

Product Variations

• Lending Rate Type: Variable
• Interest Rate: 6.59%, Comparison Rate 6.62%
• Repayment Type: Interest Only
• Loan Purpose: Owner Occupied

• Lending Rate Type: Variable
• Interest Rate: 7.27%, Comparison Rate 7.30%
• Repayment Type: Interest Only
• Loan Purpose: Investment

• Lending Rate Type: Variable
• Interest Rate: 8.02%, Comparison Rate 8.05%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Variable
• Interest Rate: 5.44%, Comparison Rate 5.47%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Variable
• Interest Rate: 5.49%, Comparison Rate 5.52%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Variable
• Interest Rate: 5.49%, Comparison Rate 5.52%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Variable
• Interest Rate: 5.69%, Comparison Rate 5.72%
• Repayment Type: Principal And Interest
• Loan Purpose: Investment

• Lending Rate Type: Variable
• Interest Rate: 5.74%, Comparison Rate 5.77%
• Repayment Type: Principal And Interest
• Loan Purpose: Investment

• Lending Rate Type: Variable
• Interest Rate: 5.74%, Comparison Rate 5.77%
• Repayment Type: Principal And Interest
• Loan Purpose: Investment

• Lending Rate Type: Variable
• Interest Rate: 5.79%, Comparison Rate 5.82%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Variable
• Interest Rate: 6.14%, Comparison Rate 6.17%
• Repayment Type: Principal And Interest
• Loan Purpose: Investment

• Lending Rate Type: Variable
• Interest Rate: 7.14%, Comparison Rate 7.17%
• Repayment Type: Principal And Interest
• Loan Purpose: Investment

Product Features

• Other Additional Information: Topping up or increasing your home loan is a way to unlock more funds by borrowing against the equity you've built up on your current property.

• Other Additional Information: One standard valuation included. Any amount in excess of the standard fee is to be met by the customer.

• Other Additional Information: Make weekly or fortnightly repayments, instead of monthly

• Other Additional Information: A bridging loan could help you purchase a new property to live in, before you sell your existing home. It's a temporary loan, for up to 6 months, however you'll need to sell and settle your current property within the loan term. The proceeds from the property sale will go towards paying off the bridging loan.

• Npp Enabled Additional Information: An account of this product type can be used to receive funds as a result of a BSB/Number based NPP payment.

• Digital Banking Additional Information: You can start banking with us anytime using the Bankwest App or Bankwest Online Banking.

• Extra Repayments Additional Information: You can make unlimited extra repayments with our variable rate home loans.

• Guarantor Additional Information: A guarantor is someone who agrees to be responsible for repaying a debt owed to us under a loan provided to another individual if the borrower (or borrowers) cannot make their repayments. A guarantor supports the loan by providing us with an additional property as security. By providing a guarantee, we may lend to the borrower in situations where they may not have been able to secure the full amount of the loan they require. Independent legal and financial advice is required for these applications.

• Other Additional Information: Track your application online in real time with our Home Loan Application Tracker.

• Other Additional Information: To reduce your limit, send a request in Bankmail via online banking or chat to your lender or broker.

• Other Additional Information: Up to 30 years.

• Other Additional Information: This loan can be used for the purposes of owner occupied or investment property purchases, refinancing your existing home loan, purchasing of vacant land (non-commercial), personal needs, off the plan purchases and building/construction purposes.

• Other Additional Information: Sufficient security must be an acceptable residential mortgage

• Other Additional Information: If you're worried about fluctuating interest rates, you could choose to fix a portion of your home loan for an agreed term (of one to five years) while keeping the rest variable for extra flexibility. One great benefit of a fixed rate loan is that your repayments won't change for the entirety of the fixed term, which could help you to budget.

• Other Additional Information: You can switch between Variable Home Loan and Fixed Rate Home Loan. Early termination fees may apply when switching from a Fixed Home Loan.

• Notifications Additional Information: Custom alerts are available for mobile personal banking accounts on eligible devices in which you have the Bankwest App installed and notifications enabled. Limited alerts only are available for credit products.

• Offset Additional Information: Link an Offset account to your Bankwest Simple Home Loan. This can help you reduce the amount of interest that you pay over the life of your loan.

• Redraw Additional Information: Access your surplus balance when you need, available via online banking.

• Other Additional Information: Principal & Interest or Interest only options are available.

Product Eligibility

• Min Age - 18. Additional Information: Customers must be an individual 18 years or older.

• Residency Status - Australian Citizen Or Australian Permanent Resident. Additional Information: Be an Australian citizen or Australian permanent resident. (Limited exceptions may apply subject to conditions.)

• Natural Person - Individuals.

• Other Additional Information: Meet Bankwest's credit assessment criteria which includes demonstrating the capacity to make the required repayments and the ability to pay off the loan without substantial hardship.

• Other - Australia . Additional Information: Security of the home loan is located in Australia.

Bank Fees and Charges

• Application Fee (Upfront), Amount: 695.00. Additional Information: Includes legal fees for standard mortgage preparation and one standard valuation fee. Any amount in excess of the standard fees are to be met by the customer.

• Bank Cheque Fee (Transaction), Amount: 10.00. Additional Information: Payable per cheque required for settlement purposes and each time you request a bank cheque.

• Arrears Notice Fee (Event), Amount: 35.00. Additional Information: Cost is per notice and payable upon notification that your account is in arrears, during the period the loan is in default.

• Legal Fees (Variable), Amount: Not Listed.. Additional Information: Payable where Bankwest requires external legal services as part of the application.

• Mortgage Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges vary depending on the State of lodgement.

• Discharge Of Pre-existing Mortgage Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges vary depending on the State of lodgement.

• Transfer Of Land Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges vary depending on the State of lodgement.

• Third Party Fees (including Legal Fees) Associated With The Discharge (Exit), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of any third party fees associated with a discharge.

• Discharge Of Mortgage Registration Fee (Variable), Amount: Not Listed.. Additional Information: These are payable to Bankwest in reimbursement of Land Titles Office fees. Charges may vary depending on the State of lodgement.

• Security Assessment Fee (Event), Amount: Not Listed.. Additional Information: Payable when we perform a valuation on any mortgaged real property forming part of the Security after the initial settlement in reimbursement of the valuer's fee.

• Legal Disbursement Fee (Upfront), Amount: 350.00. Additional Information: Applies when a new mortgage is being taken. Applies whether the settlement is attended in person or digitally.

• Preparation Of Discharge Of Mortgage Fee (Exit), Amount: 300.00. Additional Information: Payable for the preparation of each discharge of mortgage document.

• Discharge Settlement Attendance Fee (Exit), Amount: 38.20. Additional Information: Payable per settlement and applies whether the settlement is attended in person or digitally.

• Title Production Fee (Event), Amount: 130.00. Additional Information: Cost is per title and payable when Bankwest is required to produce title documents.

• Search Handling Fee (Event), Amount: 40.00. Additional Information: Cost is per dealing and payable for completion of any search conducted by Bankwest.

• Progress Payment Fee (Event), Amount: 80.00. Additional Information: Payable on each occasion the Bank makes a progress payment.

• Home Loan Portability Fee (Upfront), Amount: 350.00. Additional Information: Fee is payable upon application to Bankwest to substitute an existing security with another security.

• Default Administration Fee (Periodic), Amount: 50.00. Additional Information: Cost is per month and payable on issue of a statutory default notice, during the period that your loan is under administration due to being in default.

• Loan Increase Fee (Upfront), Amount: 295.00. Additional Information: Payable when you apply to increase the amount of credit or credit limit under an existing loan.

• Lenders Mortgage Insurance (Variable), Amount: Not Listed.. Additional Information: Lenders Mortgage Insurance (LMI) may apply where there is an increased risk associated with a home loan. The circumstances of your loan determine whether a loan will incur LMI. There is a one-off cost associated with LMI. This LMI premium is not a bank fee or an establishment fee. LMI refunds may apply for certain products and customers who met the eligibility criteria.

 Limitations & Restrictions (Constraints)

• Max Lvr of 0.98 Additional Information: The total LVR of the existing and/or new Bankwest Simple Home Loan cannot exceed 98%. This is applicable to Owner occupiers loans with a Principal and Interest repayment type.

• Max Lvr of 0.95 Additional Information: The total LVR of the existing and/or new Bankwest Simple Home Loan cannot exceed 95%. This is applicable to Investment loans with a Principal and Interest repayment type.

• Max Lvr of 0.80 Additional Information: The total LVR of the existing and/or new Bankwest Simple Home Loan cannot exceed 80%. This is applicable to Owner occupiers loans with an Interest Only repayment type.

• Max Lvr of 0.90 Additional Information: The total LVR of the existing and/or new Bankwest Simple Home Loan cannot exceed 90%. This is applicable to Investment loans with an Interest Only repayment type.

• Min Lvr of 0.00 Additional Information: There is no minimum loan to value ratio (LVR) applied to this product.

• Min Limit of 20000.00 Additional Information: Minimum individual loan size is $20,000.

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