Basic Home Loans - BankWest - Lite Home Loan

This loan is suitable for
Self Employed applicants to provide last 2 years financials, Salary and Standard wage earners. Rental income. Dividends from shares and long term deposits.

Home Loan Loan Term
1 Year to a maximum of 30 years.

Home Loan Loan Size
Minimum Loan Amount $20K
Loans above $1mil to $1.5mil LVR 90% - must have multiple security
Loan Types Principal & Interest Equity Line component limited to $750K

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Home Loan Repayment Type
Principal & Interest
Interest Only during construction
Interest Only maximum term 5 years

Repayment Options
Monthly,Fortnightly or weekly
Interest Only Loan repayments only be made monthly
Additional lump sum repayments at any time.
Direct Salary Crediting

Extra Repayments
Additional repayments permitted
Early payout: NIL

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Split Loan Facility
Split Loan Facility: is available, LITE loan must be min of $20k
Application Fee of $500 applies if fixed split part of Lite Loan.

Offset
Offset: N/A

Redraw Facility
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 Basic Home Loans - BankWest - Lite Home Loan

Owner Occupier LVR 90% (can capitalize MI on Owner Occupier, Investment & Construction )
Investment LVR 90%
Construction LVR90%
Refinance Max 90% LVR (Existing Bankwest customers may go higher - assesed case by case)
Debt Consolidation LVR 90%
Land LVR 90%

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Fees for Basic Home Loans - BankWest - Lite Home Loan

Application Fee $500 (Includes 1 valuation and prepare all documentation) BankWest Lite Home Loan customers will be refunded the full cost of their application fee on the third anniversary of their loan.
Application Fee in South Australia $350
Note Valuation for properties >than $1million contact lender for quote
Loan Maintenance Fee NIL
Progress payments $80 regardless of loan amount will now be required at Assessment, Plate height, Lock-up and Final Payment
Valuation Fee 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
Discharge Mortgage Fee Doc Prep $300
Discharge Mortgage Settlement Attendance Fee $300
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