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Product Name |
Mortgage Shredder Home Loan Variable Intro Rate 1Yr |
Lender |
Bank West |
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Initial Rate % |
6.3 |
Intro Rate |
 |
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Initial Period |
12 months
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Ongoing Rate % |
7.3 |
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Interest Type (Initial) |
Basic Variable |
Repayment (initial) |
P&I or I/O |
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Interest type (ongoing) |
Standard Variable |
Repayment (after initial) |
Principal and Interest |
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Max Term Fixed Rate % |
0 |
Max Term Interest Only % |
5 |
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Repayment Frequency |
Monthly, Weekly |
Maximum No of Loan Splits |
3 |
Extended Information
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States Available |
ACT, New South Wales, Northern Territory, Queensland, Tasmania, Victoria, Western Australia |
Financials Required |
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Product Type(s) |
Construction,Construction,Investment,Investment,Owner Occupied,Owner Occupied,Vacant Land,Vacant Land, |
Non-conforming |
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Notes
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SPECIAL OFFER: Effective Wednesday 23 June 2010 Bankwest is slashing the application fee on Mortgage Shredder and Mortgage Shredder Intro products by 50% to $350. Be quick because this offer is available for a limited time only. Offer is available to new applications only and standard product rules apply.
Other Standard Product Info:
This is an amortising home loan with a 12 month introductory interest rate. New customers have two 12 month options from which to choose. The Mortgage Shredder Introductory home loan with a 12 month fixed interest rate or a 12 month variable introductory rate. Fixed interest rate housing loan for customers purchasing a residential property for owner-occupier, investment or construction, purposes with a fixed discount
Rate Lock Fee of .15% available for period of 3 months from application.
Est fee of $350 in SA only. If borrower is a Company ATF a Trust an additional $300 fee applies (applicable in all states).
Direct Salary Credit to offset account.
$80 progress payment fee applies for each payment with Construction Loans. |
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Loan Size/LVR |
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Minimum Loan Amount $
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20,000.00 |
Maximum Loan Amount $
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99,999,999.00 |
Capitalise LMI
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Maximum LVR %
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90 |
Minimum Loan Term
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1 |
Max Loan Term
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30 |
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Loan Fees |
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Establishment $ |
0.00 |
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Cost to switch to fixed $ |
495.00 |
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Application Fee $ |
350.00 |
Exit Fee $ |
300.00 |
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Valuation Fee $ |
0.00 |
Ongoing Fees $ |
0.00 |
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Legal/Solicitor Fee $ |
0.00 |
Ongoing Fee Notes |
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Settlement Fee $ |
0.00 |
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Upfront Fees $ |
350.00 |
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Break cost conditions |
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Early Repayment Fee Notes |
DEF for Mortgage Shredder Intro Variable is $1,000 if customer repays 75% or greater of the loan amount within First 3 years. |
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Other borrowing costs $
|
0.00 |
Other Fee Notes |
Refer to Lender for legal fee as varies according to customer |
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Services |
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Internet Banking |
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Telephone Banking |
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Credit Card Option |
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Bpay Option |
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Portability of loan |
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Professional Pack |
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Cheque account access |
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Reverse Mortgage |
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Free Transactions per month
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0 |
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Redraw Available |
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Minimum Redraw $
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1,000.00 |
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Offset Account |
100% |
Direct Salary Credit |
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Access Fees |
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Loan Redraw fee $
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50.00 |
ATM own wdfee $
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0.00 |
Fee per Cheque $
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0.00 |
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EFTPOS fee $
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0.00 |
Internet banking fee $
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0.00 |
Internet access fee $
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0.00 |
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Bpay charges $
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0.00 |
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