Basic Home Loan - BankWest - Lite Home Loan

Comparison Rate	6.10%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,209.41
Total Amount Paid Est.	$435,740
Establishment Fee	$500.00

6.08%

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.

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

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

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 Loan - 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%

Fees for Basic Home Loan - 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