In light of APRA's recently issued guidance, Bankwest has today announced the following changes to the serviceability floor rates and interest rate buffers:
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Bankwest amends home loan serviceability rates
25 July 2019
Serviceability rates
| Existing (% p.a.) | New (% p.a.) | |
|---|---|---|
|
Floor rate
|
7.25
|
5.75
|
|
Interest rate buffer
|
2.25
|
2.50
|
Existing (% p.a.)
New (% p.a.)
Floor rate
7.25
5.75
Interest rate buffer
2.25
2.50
Bankwest's manual serviceability calculator will be updated to reflect the new serviceability floor rate and interest rate buffer from Thursday 25 July 2019.
Customers who have questions regarding these changes are encouraged to speak with their broker or their local Bankwest home finance managers.
About Bankwest
Bankwest provides personal and business banking solutions for more than 1.1 million retail and business customers across Australia. Bankwest customers enjoy access to an extensive network of stores and business centres, direct and third-party distribution channels, agencies and electronic banking facilities, as well as 24-hour telephone and internet banking. Bankwest is a division of the Commonwealth Bank of Australia.
Bankwest provides personal and business banking solutions for more than 1.1 million retail and business customers across Australia. Bankwest customers enjoy access to an extensive network of stores and business centres, direct and third-party distribution channels, agencies and electronic banking facilities, as well as 24-hour telephone and internet banking. Bankwest is a division of the Commonwealth Bank of Australia.
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