BankWest withdrawing the Rate Tracker Ultra product

I've just had a very interesting and unofficial heads up from BankWest. As of next Monday, BankWest will be withdrawing their 'Rate Tracker Ultra' product from all channels (ie. brokers & branches).

It's a pity, as this was really their primary competitive product (in my opinion).

Don't worry if you've already got this product, it is guaranteed to be 0.9% lower than the average standard variable rate of the big 4 banks for 3 years. As this is written into the funding agreement, it would be difficult for them to withdraw this for existing customers.

If you're thinking of purchasing or refinancing to this product, get it done ASAP!
with the 500k min limit on the premium loan, this was pretty much the only bankwest loan i ever looked at - but then the hassle with 3 year refinance perhaps turned a few people off (as it has with me) so not particularly sad to see it go
Apparently they are releasing a new product within the next week, so we are all hoping the loss of this product will be replaced by another competitive product...