Bankwest has informed broker partners it will maintain its existing clawback structure following 1 July.

In the lead up to the banning of all exit fees on 1 July, Bankwest said in a statement it will keep in place its existing clawbacks, calculated on a pro-rata basis over 18 months from the date of disbursal.

Bankwest head of specialist banking Ian Rakhit said the offer "is unlike any other offer in the marketplace". He compared the pro rata arrangement it to other institutions and brands, which relacim 100% of upfront in the first year and up to 50% after this period.

"There's been a great deal of commentary lately about clawback arrangements, but the reality is Bankwest offers a unique approach which rewards our business partners from day one regardless of what happens months down the track," Rakhit said.

Bankwest has also affirmed that it will continue to pay trail commission in the first year after settlement.

"We understand and recognise a lot of effort is invested into the new client relationship within the first year," Rakhit said. "We feel that creating and embedding the relationship should be amply rewarded."

In practice, Bankwest's clawback structure means that if a loan is discharged in month 14, it would only clawback the proportion that represents the remaining four months from the original upfront payment.

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