These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Key takeaways
Bankwest is an Australian financial institution owned by Commonwealth Bank and has strong online support.
Bankwest has home loans for investors and owner-occupiers, including fixed and variable rates, plus package loans.
You can get many Bankwest home loans with just a 5% deposit saved.
Bankwest's most competitive rates are its package home loans, so if you want to bundle your loan with an offset account and a credit card, it's a good option to consider.
Hit the "Load more" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "More info".
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."
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with Bankwest you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 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).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
Lenders like Bankwest
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.
Big Four banks. Check out home loans from Australia's Big Four banks.
AMP. AMP is a large Australian lender and financial services provider.
Suncorp Bank. This Queensland-based lender also provides insurance and superannuation services.
Macquarie Bank. This retail and investment bank is one of Australia's largest.
Bank of Queensland. One of the country's largest banks after the Big Four.
ING. This online bank is part of the global, Dutch-based financial group of the same name.
More home loan questions
To make sure you find the right Bankwest loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Do you need in-person help? Bankwest has an app and strong online support for its customers and home loan applicants. Bankwest has physical branches across the country but there may not be one near where you live.
What do you need the loan for? If you're buying a home to live in you need an owner-occupier loan. Property investors need an investment loan. Bankwest has both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes entirely?
What features do you need? You have to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-approval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
Sources
What is Finder Score?
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.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
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HI there
do you guys offer loan on land? will it be home loan or investment loan ?
thanks
Finder
.ShirleyMay 15, 2014Finder
Hi Xayn,
Thanks for your question.
Bankwest offers a few home loans if you intend to build a new home, it can be for both investment or purchasing a home.
You may refer to our page and compare construction home loans. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley
JoeOctober 12, 2013
I want to be a Guarantor for my daughter who wants to borrow $335000 to buy a unit in Merrylands. She wants to borrow 100% loan. I have two mortgages with bankwest. No problem with my repayments. Value of my houses $1800000. I owe bankwest on both mortgages $546000. If I can get a loan from the bank I may transfer my loans to a bank that will accept to give my daughter the loan and I am her guarantor. My daughter has permanent job with the department of corrective services on an income of $70000 plus a year.
Finder
MarcOctober 14, 2013Finder
Hello Joe,
thanks for the question.
You may wish to speak to Bankwest directly regarding this matter, as they’ll be able to help you with the ins and outs of guarantor loans.
Cheers,
Marc.
AnnSeptember 29, 2013
My 3 year fixed rate with you ends in March 2014. What is the going rate to refinance? At present it is an investment property, but I wish to reside in it if the price is right
Finder
MarcSeptember 30, 2013Finder
Hi Ann,
thanks for the question.
This will depend on the Bankwest loan you choose to refinance to. It may be helpful to contact Bankwest directly regarding rate negotiation.
Think you need a 20% deposit to buy a home? Think again. We break down no deposit home loans: how they work, who offers them, and what to watch out for.
Home loan cashback deals can help you refinance to a cheaper interest rate and get a lump sum cash payment. Compare the latest deals and check your eligibility today.
Learn how to compare rates to find the best home loan and start saving money on your mortgage today.
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HI there
do you guys offer loan on land? will it be home loan or investment loan ?
thanks
Hi Xayn,
Thanks for your question.
Bankwest offers a few home loans if you intend to build a new home, it can be for both investment or purchasing a home.
You may refer to our page and compare construction home loans. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley
I want to be a Guarantor for my daughter who wants to borrow $335000 to buy a unit in Merrylands. She wants to borrow 100% loan. I have two mortgages with bankwest. No problem with my repayments. Value of my houses $1800000. I owe bankwest on both mortgages $546000. If I can get a loan from the bank I may transfer my loans to a bank that will accept to give my daughter the loan and I am her guarantor. My daughter has permanent job with the department of corrective services on an income of $70000 plus a year.
Hello Joe,
thanks for the question.
You may wish to speak to Bankwest directly regarding this matter, as they’ll be able to help you with the ins and outs of guarantor loans.
Cheers,
Marc.
My 3 year fixed rate with you ends in March 2014. What is the going rate to refinance? At present it is an investment property, but I wish to reside in it if the price is right
Hi Ann,
thanks for the question.
This will depend on the Bankwest loan you choose to refinance to. It may be helpful to contact Bankwest directly regarding rate negotiation.
I hope this helps,
Marc.