Bank bids to woo brokers with product launches

by AB06 Feb 2013

Bankwest has introduced two new home loan products this week, including the ‘double deal home loan, with a discount of 1.01%p.a off the SVR for two years and a basic variable product called the ‘regular saver home loan’.

Both products offer an exclusive introduction application fee of $295, available for a limited time only, and a 100% offset facility with a monthly fee of $15.

Bankwest head of specialist banking, Ian Rakhit, says the lender is pleased to be launching the double deal home loan, which he says is the ‘largest introductory discount in the market’, with an interest rate of 5.38% p.a. and comparison rate of 5.79%p.a. 

“Double deal is a product with no on-going fees; it has a minimum loan amount of $20,000 and offers the flexibility to borrow up to 95% of the property value where applicable.”

The regular saver home loan replaces the ‘lite home loan’ with an improved rate of 5.89%p.a., comparison rate 5.92%p.a. and, unlike double deal, it’s applicable for transfers from existing Bankwest home loans.

Bankwest is hosting a series of product launches in all states and encourages brokers who wish to attend and hear more about these products to get in contact with their BDM for further details.

“Over the past 12 months, Bankwest has spent significant time and effort focusing on back-end processes and implementing initiatives to ensure we are equipped to handle extra volumes. I can confidently say that Bankwest is ready and is thrilled to give our customers more value for money whilst providing our brokers with a greater choice in this ultra-competitive market.”

COMMENTS

  • by Positive Broker 8/02/2013 9:01:33 AM

    Hopefully Ian is reading this. Bankwest already had great products. My experience is they were incapable of handling their current volume, let alone any increased business. I would spend more effort servicing brokers rather than developing new products.