Bankwest Home Loan - 90% Mortgaged Insured Offset Variable loan from 3.70%

September 18, 2017
Raymond Teh

For a limited time, Bankwest may offer:


P&I owner occupied loans up to 90% lend with multiple offset facility:

- 3.70% for loans >$750,000

- 3.85% for loans >$300,000

This is particularly competitive for mortgaged insured loans where many bank charge an interest rate premium.


P&I investment loans up to 80% lend with multiple offset facility:

- 4.29% for loans >$750,000 

- 4.39% for loans >$500,000


Bankwest's Niches:

1. Lenient cashout policy. Many lenders require written substantiation of what funds are to be used for when >$50,000 - $100,000 is cashed out from a property. Bankwest allows cash out up to 50% of the property's value. 

2. Bankwest uses purchase price for purchases if the lending ratio is <75% for up to $1m purchase i.e. no valuation required.

3. Bankwest generally does not require proof of funds to complete for non mortgaged insured loans. 


Bankwest's limitation:

1. Like many smaller lenders, Bankest may only lend up to 60-70% lend for high density off the plan purchase.

2. Hard Policy of not lending for high density apartments with <50sqm of living space. 

3. Tougher lending criteria for the self-employed, especially one in self employment for less than 3 years

RT 14/9/17

Posted in: Interest rates

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