Effective 2 June 2017 Bankwest has made the following changes to >90% LVR lending. Existing lending will not be affected.
Complete variable home loan (P&I)
The existing >90% LVR tier for owner occupiers will change to 90.01%-95% LVR including LMI. Rates for these tiers remain unchanged.
A new LVR tier of >95% including LMI will be introduced for owner occupiers, with new pricing as below.
| LVR (incl LMI) | Current Variable Rate | Current Comparison Rate | New Variable Rate | New Comparison Rate |
| <=90% | 3.99% p.a. | 4.41% p.a. | 3.99% p.a. | 4.41% p.a. |
| 90.01% – 95% | 4.53% p.a. | 4.94% p.a. | 4.53% p.a. | 4.94% p.a. |
| >95% | 4.53% p.a. | 4.94% p.a. | 5.29% p.a. | 5.69% p.a. |
Regular saver home loan
New lending on the Regular Saver Home Loan will be capped at 95% LVR including LMI.
“Bankwest takes a balanced approach to product and pricing changes, and we are mindful of our broader obligations as a responsible lender,” the bank said in a statement.
“Bankwest reviews its products and pricing on an ongoing basis with the aim of balancing the needs of our customers, shareholders, regulators and the community.”
