Bankwest Equity Access Bankwest Equity Access (Owner Occupied)
5.40%p.a Standard Variable
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 90% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Line of Credit, Equity, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 1 - 99 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Monthly.
- Interest Only Option
- Max Interest Only
- 30 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
- Ongoing Yearly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
The Bankwest Equity Access is an ongoing source of instant, low cost finance which is secured against the equity in clients 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. Once established there is no need for future applications unless clients want to increase their credit limit. Bankwest Equity Access is available whenever borrowers want to use it for whatever purpose they choose. Many people find it a convenient form of finance for education costs, share market or property investment, or consolidating debts into one easy to manage line of credit. . Eligibility: - Personal name borrowers - Guarantors acceptable - Non Trading Companies (eg: Family Trusts etc). Conditions apply. Trading Companies not acceptable. Purpose: For the purchase or refinance of Owner Occupier or Investment residential property or for other personal investments. Non Trading Companies (eg: Family Trusts) where the purpose of the loan is for non trading purposes, eg: purchase or refinance residential property, personal investment (shares in the name of trust). Term: Subject to annual review. Interest is calculated daily by multiplying the Unpaid Balance of your loan account up to the Credit Limit by the interest rate and dividing the result by 365 (366 in a leap year). Interest is charged to the account at the end of each month. Features: The account offers the following optional features: - MasterCard Debit - Electronic access (ATM / EFTPOS) - Cheque Book - Periodical Payments - Direct Debit Facility - Direct credits to the account - Bankwest Online Banking - FastPhone - BPay Transactions through Australia Post and BankWest Customer Service Centres. Repayment Options: No Repayments Required. Extra Repayments: Surplus repayments permitted at any time. Interest Offset: N/A (100% offset achieved through fully fluctuating nature of the product).
Maximum 90% for Owner Occupier inclusive of LMI. (Metro area only - may differ for country or regional areas). LMI to be taken for LVR in excess of 80%. Secured - Mortgage Lending for relevant SLM and lending policy: Max 90% LVR up to $750K . SLMs for luxury residential properties will vary for each state. Please refer to lender guidelines. QBE restrictions apply.
Genuine savings are savings, gifts or deposits made into accounts from sales of shares which have been held in the applicants name or account for a minimum of 3 months. Equity also accepted in an existing property cross-collateralised or funds drawn or sale proceeds. Note: FHOG not considered as genuine savings
Loan Increase Fee $295 App Fee includes legal fees for std mortg preparation and 1 std valuation. Addition to legal and val fee included in app fee, legal disbursements and additional Val Fee not ascertainable, varies according to transaction and solicitors used. Quoted legal fee will vary depending which solicitors used. 50 free transactions pm. (Transactions include all customer initiated withdrawals.) For each withdrawal over the limit, $2.00 will be charged to the account