Effective today, Wednesday 30 July, BankWest is withdrawing their best-selling Rate Tracker Product from its suite of mortgage products available through finance brokers.

Any pre approved applications will not be honoured. These include applications in the system that are not yet formally approved i.e customer has no contract to purchase (this does not include complete applications that are currently conditionally approved and have not yet gone unconditional - these will be honoured).

BankWest will be accepting broker Rate Tracker applications for the construction component of any land loans that have already been fully approved or settled and the construction component has been pre-approved.

Any application for increase or product switch will need to be referred to BankWest branches for completion.

Ability Finance broker customers will be affected by this change as there has consistently been more competetive longer term options available to our customers since the launch of the rate tracker product.