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Bankwest cut mortgage rates for investors
Bankwest has cut investment mortgage rates across its fixed and variable home loans, including both principal and interest and interest-only home loans.
The largest rate cut in the changes was for the interest-only Premium Select Investment Loan, which saw a downward change of 45 basis points.
The smallest rate cut was for the principal and interest Complete Variable investment home loan, which saw a change of 6 basis points downwards.
The changes are effective as of 9 November 2018.
| Product | Old interest rate | Old comparison rate | New interest rate | New comparison rate | Change |
|---|---|---|---|---|---|
| Bankwest Complete Fixed Investment Loan 3 Years | 4.28% | 5.03% | 4.08% | 4.97% | -0.20 |
| Bankwest Complete Variable Investment Loan (Interest Only) (New Customer) (LVR < 80%) | 4.54% | 4.92% | 4.44% | 4.82% | -0.10 |
| Bankwest Complete Variable Investment Loan (Principal and Interest) (New Customer) (LVR < 80%) | 4.24% | 4.66% | 4.18% | 4.60% | -0.06 |
| Bankwest Complete Variable Investment Loan (Principal and Interest) (New Customer) (LVR 80%-90%) | 4.34% | 4.76% | 4.28% | 4.70% | -0.06 |
| Bankwest Premium Select Investment Loan (Interest Only) (LVR < 90%) | 5.09% | 5.11% | 4.64% | 4.66% | -0.45 |
| Bankwest Premium Select Investment Loan (Principal and Interest) ($20k-$500k, LVR 80%-90%) | 4.64% | 4.66% | 4.44% | 4.46% | -0.20 |
| Bankwest Premium Select Investment Loan (Principal and Interest) ($500k+, LVR 80%-90%) | 4.54% | 4.56% | 4.44% | 4.46% | -0.1 |
| Bankwest Premium Select Investment Loan (Principal and Interest) ($20k-$500k, LVR <80%) | 4.64% | 4.66% | 4.34% | 4.36% | -0.30 |
| Bankwest Premium Select Investment Loan (Principal and Interest) ($500k+, LVR <80%) | 4.54% | 4.56% | 4.34% | 4.36% | -0.20 |
In October, Bankwest raised its reference rates for owner-occupiers and investors by 15 basis points.
Disclaimer
This article is over two years old, last updated on November 12, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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