BankWest has passed on 91bps to its highly popular Rate Tracker product - while passing on 85pbs to it variable rate mortgage portfolio.

The bank withdrew the Rate Tracker product from the broker market at the end of July due to brokers doing too good a job selling it. It accounts for 50% of BankWest's loan volumes.

From 17 December Rate Tracker will reduce 5.82%, while the changes to its variable rate, comes into effect on 12 December, bringing the rate on its Lite Home Loan to 6.68%.

The Rate Tracker gives borrowers a 1% discount on the average standard variable rate of the big four banks for the first two years, before reverting to the Lite Home Loan Rate.

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BankWest pulls top product from brokers