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Here are the key features and details you need to know about Bankwest's mortgage products.
| Feature | Details |
|---|---|
| Minimum deposit | Some Bankwest home loans are available with a 5% deposit (95% max insured LVR), including some of its most competitive rates. |
| Offset account? | Bankwest's package loans come with offset accounts. |
| Fees | Bankwest loans have very low fees, including no application or ongoing fees. This could save you hundreds of dollars in loan costs. |
| Repayment options | Both Bankwest's fixed and variable rate loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans. |
| Package benefits | The Bankwest Complete Home Loan Package lets you combine a credit card, mortgage and transaction account (with offset) for one annual fee. |
"I've been with Bankwest for the past 6 years. They got me as a customer in the first place because they acted swiftly to help me settle my property when other lenders were dragging their feet. In fact, I was in such a tight spot, I remember going into their office to fill out the paperwork and they had my loan approved within minutes of me completing the application form, whereas other lenders would take days just to respond to my emails. I had been tempted to switch to another lender once because of lower rates, only to find out that other lender would reject my application quite unreasonably. In the end, after some negotiations, Bankwest was able to offer me a better rate, not the best rate, but a good enough rate for me to stay. The excellent customer service justified paying a slightly higher rate."
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
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If you want to compare loans from lenders similar to Bankwest then you could look at the Big Four or some of Australia's other mid-sized lenders.
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
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I represent an Owners corporation wishing to borrow $60,000
using cash as security , repayable monthly over 5 years. ?
John.
Hi John,
You may be best off trying to finder a finance broker who can help with your specific situation. Bankwest does not offer cash-secured loans or lend directly against cash assets like a standalone term deposit or savings balance. Hope this helps.
If you have a variable home loan can you pay it out in full or do you have to fix the loan
Hi Karen,
Yes, you can pay out a variable home loan early.
Do I make an appointment to come into a branch to apply for a home loan
Hi Pidge,
thanks for the question.
You can apply for a home loan in a number of ways. By clicking the ‘Go to Site’ button on this page, you’ll be taken to the Bankwest site where you can apply online, arrange a call back, or make an appointment to apply in person.
I hope this helps,
Marc.
Did Bankwest revise interest rates for home loan after the RBA reduction of 0.25%? Cant find any info.
Hi Alam,
thanks for the question.
Bankwest recently announced a rate reduction of 0.17%, which is effective for existing customers on the Tuesday 19 May.
Cheers,
Marc.
when paying off a mortgage in full, what charges are there
Hi Brown,
Thanks for your question.
If you repay your mortgage early, you will be liable for break fees and discharge costs.
The fees and charges will depend on your loan and how early you paid it off.
You may find this guide to home loan exit fees as your reference to know more about the fees if you want to pay off your loan ahead of time. Remember to revisit the relevant product disclosure statement and terms and conditions of your loan.
Cheers,
Shirley