Complete Variable Home Loan (Principal and Interest) ($200k+, LVR 95%-98%)
- Last updated on 01 Apr 2020
Home Value Home Loan
special
Get a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
2.65%
Variable
2.66%
Home Value Loan
4.62%
Variable
5.03%
$1,285
based on $300,000 loan amount for 25 years
Pros
- 100% full offset account
- Suitable for low deposits
- Extra repayments + redraw services
- Comes with a credit card
Cons
- Annual fee charged
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Maximum LVR 98% | Interest rate structure Variable |
Borrowing range $200k - $100m | Total Repayments $462,600 |
Principal & interest | Interest only |
Loan term range 1 - 30 years | Offset account 100% offset account |
Extra repayments Unlimited extra repayments | Redraw facility Redraw fee: $0 |
Allows split interest | Suitable For Owner Occupiers |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Estimated upfront fees $250 | Application fee $0 |
Settlement fee $250 | Valuation fee $0 |
Legal fee $0 | Ongoing fee $395 |
Discharge fee $338 | Property Type |
SMSF Trustee | Minimum SMSF Amount |
Minimum redraw amount is $1,000 if not done online and attracts $10 fee for each redraw request.
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Bankwest was named Money magazine’s Bank of the Year in 2017, with its below average mortgage rates a contributing factor.
Bankwest was founded by the government of Western Australia in 1895. Originally known as the Agricultural Bank of Western Australia, it has changed hands and names several times since, becoming known as Bankwest in 1994.
Bankwest was bought by the Commonwealth Bank of Australia in 2008. Although its headquarters is in Perth, Bankwest has offices throughout Australia.
