Basic Home Loans - BankWest - Lite Home Loan |
 |
 |
to select a different loan amount and loan term. Currently: $150,000 over 30 years |
|
| Home Loan Lender |
 |
BankWest Home Loan |
|
| Home Loan Product Name |
Lite Home Loan |
| Interest Rate |
9.18% |
Comparison Rate
Estimated |
9.02% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,204.78 |
Total Paid
Estimated |
$434,300 |
| Establishment Fee |
$500.00 |
| Enquire/Apply |
 
|
| Target Market |
The BankWest Lite Home Loan gives you BankWest ’s lowest ongoing variable interest rate for both owner occupiers and residential investors wishing to purchase land, purchase an existing home, construct a new one or for any other personal purpose
,
Packaged together with the BankWest Lite MasterCard, the BankWest Lite Home Loan offers customers the BankWest Lite MasterCard fee free*for the first 12 months.
,
Please note that minimum loan size must be $60K |
| Acceptable Income |
Self Employed applicants to provide last 2 years financials, Salary and Standard wage earners. Rental income. Dividends from shares and long term deposits. |
| Loan Term |
1 Year to a maximum of 30 years. |
| 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 |
| 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 |
|
| 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 |
Online Redraw facility available No redraw fee no minimum redraw amount $0.25cents for internet transaction applies |
| LVR |
Owner Occupier LVR 95% (can capitalize MI on Owner Occupier, Investment & Construction )
,
Investment LVR 95%
,
Construction LVR 95%
,
Refinance Max 95% LVR
,
Land LVR 95%
,
Debt Consolidation LVR 90%
,
Land LVR 95% |
| Fees |
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
,
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 WA Only $300
,
Progress payments $80
,
MasterCard Lite Annual Fee is $49 after the first year , where it will be waived if taken out with homeloan.
,
Transactions $6 per month if the account balance falls below $1000
,
10 free electronic transactions per month after that $0.65 per electronic transaction
,
MasterCard Lite Statement is issued monthly
,
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)
,
Settlement Fee $50 applicable to East Coast Only |
| Enquire/Apply |
|
| Other Basic Home Loans |
 |
|
|
|
|
 |
| Other BankWest Home Loan Products |
|
|
|
|
|
|
This Comparison Rate applies only to $150,000 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.
The information provided in this website is a guide only and may not be complete for your purposes. ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
|