The Bankwest Regular Saver Loan is a basic mortgage product that gives you the opportunity to save by offsetting interest, making additional repayments, avoiding bank fees and taking advantage of discounted insurance.
Bankwest gives you the option of borrowing up to 95 per cent of the property value for owner-occupier purchases, or 90 per cent if the property is an investment. Be aware that borrowing over 80 per cent of the property price may incur the additional charge of lenders mortgage insurance.
Repayments are flexible and can be made weekly, fortnightly or monthly. Plus, borrowers can make extra repayments on the Regular Saver Loan, and redraw without any charges via the free redraw facility.
The Bankwest Regular Saver Loan offers an optional 100 per cent offset account as an extra, which will come at an additional cost by way of a monthly fee.
The Bankwest Regular Saver Loan is a variable-rate mortgage with no ongoing fees. It offers some basic features, including the ability to make additional repayments without penalty, and a free redraw facility to access those extra funds should you need them.
There is an optional offset account, for an additional monthly fee, available.
The interest rate charged on the Bankwest Regular Saver Loan is higher than average. However, the fees are competitive by market standards. For instance, the upfront fees charged are slightly below average and there is no ongoing fee charged, unless you opt for the additional offset account. A minor discharge fee also applies.
For further information about the Bankwest Regular Saver Loan options, click the links below.