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Why do you need my savings transferred onto my loan?

Posted by Naomib Naomib
Message 1 of 2 2,778 Views

We are very unsatisfied!

Since August we have been setting up our new loan to pay for the construction of our home. It has been held up multiple times due to:

  • staff going on leave and then replacements not being able to finish the contract
  • documents containing errors and needing us to come in and resign them

Finally we get it all completed only to be informed after requesting a progress payment that are already late due to being held up by bankwest that we need to transfer money from our savings account onto our loan before they can begin transferring the payments? Why?

We are approved for an certain amount. Our building contract doesn't go over the that amount. Why do you need our money?

We need our builder to be paid asap! I am yet to receive an answer that I am satisfied with.

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Re: Why do you need my savings transferred onto my loan?

Posted by LyndsC LyndsC
Message 2 of 2 2,773 Views

Hi @Naomib,  I'm sorry to hear that you feel this way, adn I'd love to help you look into whats happened.

For security reasons, we can't access or discuss any personal account information over the Bankwest Forum, so we'd need to speak with you over the phone to look into what's happened. Can you please send me an email to with your full name and contact number, and I'll arrange for a specialist to call you and discuss this in more detail? Thanks!

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