Bankwest have rolled out their new no-frills product – The Equaliser Home Loan – which has piqued quite a bit of interest with our customers here at Blackburne Mortgage Broking.

Available to both owner occupiers and investors, it suits the mortgage holder looking to simply get a home loan at a great rate with no bells and whistles.

The unique feature of this product is that Bankwest takes the average of the standard variable rates from ANZ, Westpac and NAB and discounts it by 1.35% (for owner occupiers) or 1.00% (for investors) for the first three years.

Therefore you always know you have a fair product with a discount appropriate to the current market movement. After the introductory period, both the owner occupier and investor discount is calculated at 1.1% off Bankwest’s standard variable rate.

In the current market, the owner occupier rate sits at 3.91%*, reverting to 4.25% after the intro period (*Comparison Rate 4.21%) alongside the investor rate which is 4.36%^, reverting to 4.72% (^Comparison Rate 4.68%).

With free and unlimited redraw along with no ongoing fees the Equaliser is a stand out when it comes to a cost effective, simple product.