Bankwest
- Thread starter HD_ACE
- Start date
some brokers can do up front valuations. You can go to 90% and cash out up to 50K with commentary only. Between 50K and 100K at 90% you need evidence.
I am doing a BankWest customer direct order valuation right at this moment.
If you are already with Bankwest and have paid LMI probably better staying there.
You just need one of their 'premium' brokers who can order an upfront val for free with a 4 day assessment turnaround time once file submitted
just email a few and ask if they are premium brokers or better still the BW premium brokers on this forum could just PM you or post on this thread
You just need one of their 'premium' brokers who can order an upfront val for free with a 4 day assessment turnaround time once file submitted
just email a few and ask if they are premium brokers or better still the BW premium brokers on this forum could just PM you or post on this thread
I will be staying with them. Just have other props with suncorp etc so wll be lookin to do the same thing.
I have emailed my broker to see if hey are so waiting for a response.
But if there are any premium brokers on here feel free to post or pm me.
Thanks all.
Pretty sure I'm not a premium broker given I avoid BankWest if possible (for all the reasons mentioned above) so my volumes with them are almost non existent these days. I can order upfront valuations with them however. I suspect they're trying to buy back some brokers - get your broker to send an email to their BDM and they may be able to get that valuation done.
This may have changed but I was told a while back that they order a second valuation if there is a broker ordered val and guess which one they use? The mind bogles.
21 days if you are lucky
Most frustrating bank to deal with. I've got three in the pipeline at present - I've aged a few years since hitting the submit button.
Think I might have to implement a no BWA deals policy in the office.
Cheers
Jamie
Truth be told, I wouldn't know because I haven't lodged a deal with them in ages, simply on the basis of lousy service and dodgy products. There's a very narrow number of reasons why I'd consider recommending BW simply on the basis that in my experience, they really are that bad.
What best ?
ta
rolf
ta
rolf
If broker emails BDM they will be able to do an upfront.
I feel battered and bruised all you East Coasters bank bashing the locals
Have to agree though!
I feel battered and bruised all you East Coasters bank bashing the locals
Have to agree though!
no they will use their one regardless. So the whole exercise is academic.
I just want to help credit worthy borrowers borrow money efficiently, the hoop jumping and over engineering is making me a bit jaded at present!
Whilst we're on the topic of Bankwest.
My first IP is with Bankwest, loan was approx 90% upon acquisition. Now that some equity has been gained in the property i'm looking to draw the loan up to 90% again and cash out for a deposit on my next IP.
Is there anything inherently bad about using Bankwest for the first few IP's?
I'm guessing that their serviceability calcs are quite stringent so not worth using them further down the line.
Cheers
My first IP is with Bankwest, loan was approx 90% upon acquisition. Now that some equity has been gained in the property i'm looking to draw the loan up to 90% again and cash out for a deposit on my next IP.
Is there anything inherently bad about using Bankwest for the first few IP's?
I'm guessing that their serviceability calcs are quite stringent so not worth using them further down the line.
Cheers
BW's policy is actually not bad and they do have some parameters on paper. It's their turnaround times, call wait times and backend processes that leads them to haemorrhage quite severely.
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