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Bridging Home Loans - Westpac - Bridging Loan

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Westpac
Comparison Rate 7.10%
Amount $200,000
Term 30 years
Monthly Payment Est. $1,331.95
Total Amount Paid Est. $483,000
Establishment Fee $600.00

7.01%

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Loan Features for Westpac - Bridging Loan
A variable rate loan for short-term finance to enable a new property to be purchased prior to an existing property being sold. Available for owner occupied purchase only. Available for construction purposes.
Primary security to be first mortgage over residential property being purchased (future residence) and residential property being sold (current residence) ,supporting security allowed.

This loan is suitable for
Self Employed with 2 years financials to be supplied, salary and wage earner.

Home Loan Loan Term
Maximum overall loan term is 1 year.
Variable Rate for the first 3 months then for the balance of the term (9months) a loading of 1% is applicable on the variable rate.

Home Loan Loan Size
Minimum: $10K
No maximum.

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Home Loan Repayment Type
Interest Only & Fees.
Interest Capitalisation allowed.

Repayment Options
Monthly, fortnightly or weekly.

Extra Repayments
Additional repayments can be made at any time (no minimum).

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Split Loan Facility
Available as part of a combination loan at application stage.

Offset
Non applicable.

Redraw Facility
Non applicable.


LVR for Bridging Home Loans - Westpac - Bridging Loan

Up to 75% (max end debt) for interest capitalisation.

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Fees for Bridging Home Loans - Westpac - Bridging Loan

Establishment Fee: $600
Loan Maintenance Fee: $8 per month
Progressive Draw Down Fee: $300 (payable once only)
Additional Valuation Fees:
Independent valuers - for quote contact lender
Guarantor Fee $200.

 
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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.

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.
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