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Bridging Home Loans - BankWest - Bridging Loan

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BankWest
Comparison Rate 6.95%
Amount $200,000
Term 30 years
Initial Payment Est. $1,309.18
Monthly Payment Est. $1,303.90
Total Amount Paid Est. $475,540
Establishment Fee $700.00

6.84%

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Loan Features for BankWest - Bridging Loan
For personal use when temporary funds are required for the purchase of a property prior to the sale of an existing property

This loan is suitable for
End debt must be within NICL guidelines. Need to supply a Nil showing end debt and a Nil showing peak debt

Home Loan Loan Term
6 month term, will then review, may allow another 6 month term. Would require up to date information would need to review why still bridging

Home Loan Loan Size
Min $20,000. No maximum

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Home Loan Repayment Type
Interest Only, Max LVR 70% will capitalise Interest, but must remain under 70%.
Principal and interest - Current Mortgage Shredder Interest Rate used for bridging

Repayment Options
Based on end loan amount
Weekly, fortnightly or monthly, Principal and interest or interest only

Extra Repayments
Yes

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Split Loan Facility
Not available

Offset
Available if the Mortgage Shredder offset account is taken

Redraw Facility
Not available on bridging component.
Available. Complete the Home Loan Access Form and fax to BankWest, actioned within 2 days free of charge.
Home Loan Access (over the counter) minimum $1,000.00 per transaction - $50 per time. .


LVR for Bridging Home Loans - BankWest - Bridging Loan

Only allowed on Owner Occupier and existing Investment
Owner Occupy Maximum 70%
Investment Maximum 70%

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Fees for Bridging Home Loans - BankWest - Bridging Loan

Establishment Fee $700
Administration Fee Nil
Settlement Processing Fee As per normal settlement fees
Increase fee Nil
Account Keeping Fee $15 pm if optional mortgage shredder offset account is taken.
If the customers legal costs are above $300 the customer will be required to pay the additional costs
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)
Legal Disbursement Fee $60 applicable to East Coast Only
Discharge Mortgage Fee Doc Prep $300
Discharge Mortgage Settlement Attendance Fee $300
No DEF is applicable

 
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The comparison rate applies only to $200,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.

This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.

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