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.
Bankwest is an Australian financial institution owned by Commonwealth Bank. Bankwest has home loans for investors and owner-occupiers, including fixed and variable rates, plus package loans. Check out the full table of Bankwest products below or read more about the lender and its loans.
Compare Bankwest home loans for December 2024
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".
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We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these
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Bankwest key facts
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.
Bankwest is owned by the Commonwealth Bank and has strong online support.
You can get many Bankwest home loans with just a 5% deposit saved.
"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."
Jack K
Finder crew member
How do I apply for a Bankwest mortgage?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
Each Bankwest product has specific eligibility criteria but some will apply to all products. For example:
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.
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.
Compare other home loan options
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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 a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio
Richard's expertise
Richard has written 562 Finder guides across topics including:
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.
With a strong employment history and enough money in the bank, a temporary resident will be given almost the same opportunities as a citizen when it comes to home loans.
If you have a variable home loan can you pay it out in full or do you have to fix the loan
Finder
RichardAugust 4, 2023Finder
Hi Karen,
Yes, you can pay out a variable home loan early.
PidgeMay 26, 2015
Do I make an appointment to come into a branch to apply for a home loan
Finder
MarcMay 29, 2015Finder
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.
AlamMay 12, 2015
Did Bankwest revise interest rates for home loan after the RBA reduction of 0.25%? Cant find any info.
Finder
MarcMay 13, 2015Finder
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.
brownFebruary 12, 2015
when paying off a mortgage in full, what charges are there
Finder
ShirleyFebruary 12, 2015Finder
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
sharonJune 8, 2014
retired 65 & 63- mortgage free home valuation $600000. impaired credit rating, defaults paid or being paid.
equity release is this possible
Finder
ShirleyJune 10, 2014Finder
Hi Sharon,
Thanks for your question.
Please contact your home loan consultant or the customer service team at Bankwest to enquire about this.
Cheers,
Shirley
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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
retired 65 & 63- mortgage free home valuation $600000. impaired credit rating, defaults paid or being paid.
equity release is this possible
Hi Sharon,
Thanks for your question.
Please contact your home loan consultant or the customer service team at Bankwest to enquire about this.
Cheers,
Shirley