BankWest Home Loans Questions & Answers
What is the Discharge of mortgage fee charged by Bankwest?
Sorry I don’t know as I discharged from Mortgage House and that was almost $1500 + from memory
I have been approved a house loan through BankWest, how long before a contract runs out after you sight?
It will say in your letter of offer (provided it is the actual approval, not pre-approval). There is a sect ion that states how long you have to accept.
As there are very good rates out there at the moment, am looking at refinancing away from bankwest. How much is their discharge fees?
Please refer to their website.
Hi Zach, there should not be any loan discharge charges if the loan was taken after 2011. Although there will be few Government charges like Mortgage registration /de-registration $1 14.00 etc. Best to call the bankwest loan division and ask them for charges in black n white. The best I could see online was 3.99% but I'll be wary of all the application charges and other charges that are included. Please feel free to ask me any questions and I'll be happy to help. I will be very cautious next time as this experience burnt me pretty good.
I paid off my BW Premium Select Homeloan last month.
Fees were: (1) Mortgage Discharge $300 (2) Legal Fees $25 (3) Bank Cheque $7.50 all payable to BW and (4) VIC Mortgage Discharge Rego $114 (Vic Gov Fee)
I mean thinking of refinancing and are exploring my options. I have read about bankwest and...how easy is it to swtich and change and what support does the bank give?
I refinanced with them in October 2014. I am now switching to another lender. They do not pass on interest rate cuts in full. They do not notify you of change in interest rates. They do not notify you of an increase in offset account fees. They do not notify you if an account is assessed as dormant and shift it to Gov control. It took months to get it back. They do not recognise Enduring power of attorney despite other banks recognising legal documents. They will not return your calls. Communications is very poor with 3 specific examples (each resulting in my loss). Absolutely hopeless.
IDKK, how much did they charge for discharging your loan?
See my review regarding "bait & switch". I took my home/investor loans elsewhere for a better deal. Borrowings totalled in excess of $1.3 million.
How long do bank west typically take to approve a home loan for a first home buyer? Do they call your employment to confirm? Do I need to let them know to expect a call or is that a privacy issue and they base it off payslips and tax returns? Thanks guys for ur help
Hi, For us it took 2.5 weeks from when we said we had an offer accepted to the money coming through. This was over Christmas though, so without the holidays maybe two weeks? They didn't call our employers but wanted a letter stating hours, wage, time in employment from them. They didn't call our employers, they told us what they wanted and we had to request it from our HR departments.
Aww thank you that's definitely cleared up some questions. Congratulations on ur home too!
Get an answer from our members
Extra Information
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.