Low Doc Home Loan - BankWest - Low Doc Home Loan LVR <=60%

Comparison Rate	5.73%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,160.80
Total Amount Paid Est.	$418,660
Establishment Fee	$700.00

5.70%

Target Market
The Bank West Low Doc Home Loan is a low documentation or self certification home loan, with a variable interest rate for self employed borrowers who have complicated income structures or are unable to provide up to date financial information. ,
Not eligible for customers with existing BankWest business lending

Acceptable Income
Self Employed, Contractors and other who have the income to service a home loans but may not have the tax returns or financial statements normally needed to qualify for a home loan. Must have an ABN number in place to qualify for this product. If LVR <60% ABN only needed for one day, if 60% to 80% need ABN in place for 2years. BAS Statements not required ,
Loans in personal names only ,
No company names ,
No Guarantors ,
Maximum of two borrowers incomes can be used for serviceability, for deals with LMI

Home Loan Loan Term
Maximum loan term 30 years

Home Loan Loan Size
Minimum: $20K ,
,
Maximum: $2.5M per loan without LMI (negotiable if there is more than 1 security property) or $1M per loan to a total exposure of $2.5M with LMI (subject to location limits - refer PMI location guide)

Home Loan Repayment Type
VARIABLE ,
Interest Only available for construction loans up to 5 Years ,
Interest Only for investment loans up to 5 years

Repayment Options
Weekly, fortnightly or monthly ,
Interest Only payable monthly

Extra Repayments
Extra repayments allowed at any time

Split Loan Facility
Available (same name and same security)

Offset
100% offset account is available BankWest Easy Doc Offset Account a $15 monthly fee applies

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 Low Doc Home Loan - BankWest - Low Doc Home Loan LVR <=60%

Owner Occupier Max 80% LVR ,
Investment Max 80% LVR ,
Construction Max 80% LVR ,
Refinance Max 60% LVR ,
Land Max 80% LVR ,
Debt Consolidation Max 60% LVR ,
Low Doc Valuation required art all times

Fees for Low Doc Home Loan - BankWest - Low Doc Home Loan LVR <=60%

Application Fee $700 ,
Progress payments $80 regardless of loan amount will now be required at Assessment, Plate height, Lock-up and Final Payment ,
Note Valuation for properties >than $1million contact lender for quote ,
If the customers legal costs are above $300 the customer will be required to pay the additional costs ,
Nil ongoing fee but if Offset Account taken Fee applicable $15 per month ,
Annual Line Fees Nil ,
Settlement Processing Fee Nil (included in application fee) ,
Increase fee = or <$50k fee will be $495 >$50k fee will be $700 ,
Account Keeping Fee Nil ,
Legal Fees Nil (included in application fee) ,
Access Fees $45 / $1000 min redraw ,
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 ,
Discharge Mortgage Fee Doc Prep $300 ,
Discharge Mortgage Settlement Attendance Fee $300 ,
No DEF is applicable