Auswide Bank Home Loan Review 2026

Auswide has its roots in Queensland and keeps its own brand, with branches, phone support, internet banking and an app. It merged with MyState in February 2025. Current documents describe Auswide as a division of MyState Bank Limited.

For a new loan, the practical point is to check the Auswide product you are applying for. Being in the same group does not mean every MyState product or government-scheme option is available under the Auswide name. I also wouldn’t assume a smaller bank will automatically be faster or cheaper; compare the actual offer and service times.

You do not always need 2 years of financials for Auswide. Its broker policy has a single-year option for a sole trader with only 1 source of self-employed income, borrowing no more than 80% of the property value.

Under that option, the bank uses 90% of the net profit shown in the financials. For example, $100k of net profit becomes $90k for this part of the income assessment. It still needs to check your expenses, debts and the rest of the application.

Our self-employed home loan guide explains the other ways lenders assess business income. NAB is also worth comparing. If you need alternative documents or specialist credit assessment, the lender shortlist will be different.

Auswide can lend above 80% of a property’s assessed value on eligible loans, with lenders mortgage insurance. The limit changes with the loan purpose and product. LVR is simply the loan as a share of the bank’s property valuation.

The Basic Home Loan has a lower published cap of 90% including LMI, so the 95% option does not apply across the whole range. The property, loan amount and income assessment can reduce the limit further.

LMI added to a loan is still money you owe and pay interest on. Allow for the premium and your buying costs before setting a price range. Our deposit calculator helps you work through that budget.

Auswide does not offer a family security guarantee through its broker loans. If your plan depends on using your parents’ property to support the loan, compare a lender with a family-guarantee option, such as St George.

Guarantees within an accepted company or trust structure are a separate issue. They are not a family-pledge product for a first-home buyer.

Auswide uses Helia for LMI. Its broker policy does not include a professional LMI waiver: the usual uninsured limit is 80%, or lower where the property rules require it.

You may see Auswide’s Private Bank advertise up to 90% without LMI for eligible healthcare, accounting and legal professionals. That offer is available through Auswide Private Bank, rather than the broker product covered here. If avoiding LMI is the main aim, compare the offers available through the relevant channel.

Start with the income Auswide will accept, then your living costs and existing commitments. A credit-card limit you barely use can still affect the result. For a sole trader, the one-year option may help, but the 10% reduction to net profit matters too.

The bank also tests whether you could manage repayments at a higher assessment rate. Use our mortgage calculator to explore repayments, then have the income and debts assessed before committing to a property.

Auswide publishes its current home loan rates. Compare quotes for the same loan purpose, deposit and repayment type. Include the package fee and the variable rate that applies when any fixed period ends.

On an eligible Freedom Package loan, you can have a 100% offset with either a variable rate or a fixed term of 1, 2, 3 or 5 years. Up to 10 offset accounts can be linked to an eligible loan. At least one account holder must also be named on the loan.

For example, if your eligible loan balance is $500k and the linked offsets hold $40k in total, interest is calculated on $460k. The balances are added together, so you can organise your savings without changing the total interest saving.

Redraw is available on eligible loans, with no fee for online redraw, but access is subject to the bank’s conditions and discretion. Extra repayments on a fixed loan do not remove the possibility of break costs if you repay early or change the loan. Check those terms before fixing, especially if you may sell or refinance.

The fee guide also lists $20 for redraw outside internet banking and a $450 progress-payment fee for construction or renovation lending. Property inspections and some legal or other third-party costs are extra. Valuation allowances have caps, so check whether the property will cost more to value.

Basic is better described as having no ongoing fee than being fee-free. The establishment and settlement charges still count when you compare it with another loan.

Rate lock costs 0.15% of the fixed loan amount, with a $250 minimum, excluding financed fees from the calculation. For a $500k fixed portion, that is $750.

The reviewed policy includes the lower-rate-at-settlement rule: if the applicable rate is lower at settlement, the lower rate applies. Confirm the lock period and conditions before paying, particularly if the settlement date could move.

Auswide offers construction loans, but the location and builder can rule a project out before income becomes the issue. I’d check those details before you sign a building contract or rely on a short finance deadline.

For modular or kit homes, the lending calculation is based on the unimproved land value until the fixing stage. If the supplier needs a large payment while the home is still in a factory, that can leave a funding gap you need to solve before work starts.

Structural renovations need construction-loan handling rather than a general cash-out request. Construction is not available for Housing Australia Scheme loans under its lending rules. In any event, a new scheme application would need to be through a participating brand, not Auswide.

A good borrower can still have a property the bank will not accept. These checks are particularly useful for smaller units and acreage around Queensland.

Ask for the unit plan and measured areas rather than relying on the size in the listing. The 2 apartment tests measure different things, so meeting one does not necessarily meet the other. Ordinary investment homes are a different category from specialised accommodation such as a boarding house.

For a refinance, put the new rate beside the fees to leave your old lender and set up the new loan. Check whether you are extending the term as well; a lower repayment over more years may cost more interest.

For equity release up to $350k, Auswide needs full disclosure of the purpose. Above $350k, it needs further supporting detail, such as an accountant’s letter for shares or a contract or statutory declaration for a property purchase.

You cannot refinance an ATO tax debt into the loan. Business-debt refinancing is also generally excluded, with a possible case-by-case exception where the business has closed and the borrower is now a PAYG employee.

Auswide has a Standard Variable Bridging product, with a listed minimum of $10k. If you are buying before selling, we need to look at the highest debt during the overlap, the expected sale proceeds and what remains afterwards. The Freedom Package benefits do not apply to bridging loans.

A line of credit is also listed with the Freedom Package. The limits to check are up to 80% for owner-occupiers and up to 90% for investment lending, subject to the product and insurance requirements. It is not a way to skip the normal income assessment or borrow without a plan to repay.

The 5-business-day target covers the lending decision. Allow additional time for the valuation, loan documents and settlement. We’ll check the current turnaround before you commit to a finance date.

Auswide offers transaction and savings accounts, internet banking, an app, phone support and branches. If you want a branch, check the nearest location and opening hours rather than assuming the network is as broad as a major bank’s.

The MyState merger does not itself tell you whether the loan or banking experience suits you. Check the features you use: how money moves into the offset, redraw access, card access and who to call when something needs fixing. The current product documents identify MyState Bank as the issuer unless stated otherwise.

Auswide is a banking brand within the MyState group, not a private unregulated lender. Current Auswide documents name MyState Bank Limited as the issuer. MyState Bank is regulated by APRA.

For your home loan, focus on the contract, fees and repayments you can afford. If you hold substantial savings across both brands, check the Financial Claims Scheme treatment with the bank rather than assuming each brand gives you a separate deposit-protection limit.

Read our reviews of NAB, St George, Macquarie, UBank and ME Bank for other options. Our lender review hub brings the comparisons together.

Auswide deserves a look when the offset, fixed-rate option or sole-trader rule fits what you need. If the application depends on a scheme, family support or specialist income documents, I’d work that out first and compare lenders that can offer the required loan.

Our mortgage brokers in Brisbane can compare Auswide’s rate, package fee and lending options with other lenders.