Bankwest has rolled out its first new home loan product in nearly a decade, as it evolves into a bank dedicated to meeting the rapidly changing customer needs.
“We’re transforming our products and services to realise our vision to be a simple, easy bank for the Australian homeowners of today and tomorrow, and Bankwest Simple Home Loan is a major milestone in our journey,” said Jason Chan (pictured above left), Bankwest executive general manager. “Customers increasingly expect us to be simpler and easier to bank with via their brokers and our digital and face-to-face customer service channels, so we’re focusing our investment in meeting these expectations.
“Our Bankwest Simple Home Loan product is the latest step in our evolution as a WA-based homeowner-focused bank with a distinct brand, first-class broker services, and leading digital offering for customers nationwide.”
The latest offering from Bankwest provides a non-package option for customers who can add only the extras they need, with a high LVR (up to 98%, inc. LMI), no application/annual fee, flexible repayments, and optional offset account ($10/month).
Peter Bouhlas (pictured above right), Bankwest general manager homebuying, said Bankwest’s new home loan product would be part of a simplified suite of products and would replace Premium Select, Regular Saver, and Mortgage Shredder products.
“The new Bankwest Simple Home Loan is designed to offer flexibility for customers who don’t require certain features, while delivering optional extras for those [who] choose them,” Bouhlas said. “Having a product without an annual fee was important in designing the Bankwest Simple Home Loan for high–LVR tiers such as first-home buyers and because those savings of about $400 can equate real value for them.”
The bank’s Mortgage Shredder customers will automatically transition to the new Simple Home Loan, while Premium Select and Regular Saver customers will be contacted in the coming months to support them onto a suitable product.
“We have a clear ambition to serve more customers nationwide and our Bankwest Simple Home Loan is leading development of a simpler set of products and services for the homeowners of today and tomorrow,” Bouhlas said.
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