Line of Credit Home Loans - BankWest - Equity Access

This loan is suitable for
Acceptable income: Self employed the last 2 years financials for all related parties were possible. Individual directors and any guarantor involved in the deal. Salary and wage earners.

Home Loan Loan Term
Subject to annual review.

Home Loan Loan Size
Minimum loan $20K

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Home Loan Repayment Type
Minimum requirement of Interest only if limit is fully drawn.
Interest only available for investment loans up to a maximum of 5 years

Repayment Options
Weekly, fortnightly, or monthly

Extra Repayments
Surplus repayments permitted at any time.
Early Discharge no penalties apply.

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Split Loan Facility
Yes

Offset
Not available

Redraw Facility
Home loan access to any surplus funds accumulated on the loan fees and conditions apply.
Home Loan Access (over the counter) minimum $1,000.00 per transaction - $50 per time. .

LVR for Line of Credit Home Loans - BankWest - Equity Access

Owner Occupied: Max 90% LVR.
Investment: Max 90% LVR.
Construction 90% LVR
Debt consolidation 90% LVR
Land 90% LVR

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Fees for Line of Credit Home Loans - BankWest - Equity Access

Application Fee: Nil
Annual Maintenance $325 paid in advance
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
Access Withdrawal Fee 50 free transactions per month. (Transactions include all customer initiated withdrawals.) For each withdrawal over the limit, $2.00 will be charged to the account
When Equity Access is taken the maintenance fee on existing and new BankWest home loans is waived. If subsequent home loans are applied for, the application fee is waived on these as well. When two Equity Access accounts are taken the up-front and annual maintenance fee on the second account is waived.

Discharge Mortgage Fee Doc Prep $300
Discharge Mortgage Settlement Attendance Fee $300
Progress payments $80 fee per payment plus $80 fee per valuation required.
Valuation Fees
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 $180 + GST Queensland $200 + GST New South Wales $200 + GST Tasmania $200 + GST South Australia $200 + 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)
Legal Disbursement Fee $60 applicable to East Coast Only
No DEF is applicable