Browse Forums Home Finance 1 Oct 27, 2010 10:24 pm Hi Friends, We are planning to get our loan approved with Bank West but i heard that bank west creates problem while releasing money. Does any body having bad/good experience with Bank west bank. Please advice. Thanks in advance Srini Re: Bank West 3Nov 05, 2010 1:35 pm We're with Bankwest, never had any problems with them. They are great to deal with, quick to answer the phone with a real person. Re: Bank West 5Nov 11, 2010 6:09 pm Do you mean "cash out", as in they don't like to approve loans where you are releasing equity? Or do you mean if you need to redraw money from your existing loan they take a long time to get it for you? BankWest are fine with redraws. As for approving equity releases, all of the banks have pulled back on this a lot. If you are borrowing more than 80% LVR or are releasing more than $100,000 in equity then they will ask you for proof of what you are doing with the money & may not allow you to do it. Under 80%, under $100,000 and full doc you should have no problems. Re: Bank West 6Nov 16, 2010 1:32 pm In my previous life as a builder we had problems with claims through several banks, however none were particularly worse than the others. It's best to follow up yourself on any draw down claims than leave it in the banks hands to avoid late payment interest charges though, but i'd recommend doing that no matter who you use. How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11849 Hi I live in a 100yr old semi and my neighbour added an additional floor last yr and our architect has advised that we can knock down our semi and build a free-standing… 0 37601 Hi All It has been a few weeks since my last update. The build has been progressing well. No major issues to report. The scaffolding was dropped today, gyprock will be… 96 356659 |