Bank of Western Australia Ltd - Notification - N95514

On 8 August 2011, the Bank of Western Australia Ltd (Bankwest) lodged notification N95514 with the ACCC. Bankwest proposes to provide first home buyers that obtain the 'Rate Cutter Home Loan' for borrowing between 95% and 97% of the property value for the construction of a new home with finance for the land at the time the land is purchased, and finance for the construction of the home by way of progress payments throughout the construction period, on condition that the customer acquires construction services from BCG (Australia) Pty Ltd and/or Alcock Brown-Neaves Group (ABN).

Legal immunity conferred by the notification automatically commenced on 22 August 2011.