Bankwest Home Loan Review 2026

While some banks allow as little as a 5% deposit without LMI, Bankwest lets you buy with roughly a 10% deposit before costs without paying LMI.

Your profession or employer must be on its list, and the property and loan must qualify.

Bankwest’s waiver rules have no minimum-income requirement, but you still need to afford the loan. Foreign income is excluded. Principal and interest repayments are generally required, with a possible exception for the construction period.

Our LMI waiver guide explains the options. Compare NAB and Westpac too, especially if your profession is outside Bankwest's list. A smaller deposit leaves less equity if prices fall or you need to sell early.

Bankwest can count a substantial share of rent, casual work and second-job income. Your income history, debts and living costs still decide how much you can borrow.

A rental yield cap limits the rent Bankwest counts relative to the property value. A high advertised yield will not necessarily increase your borrowing limit by the same amount.

A strong latest completed year can help. Bankwest may use that year rather than average it with an older result. Its public home-loan information says an 18-month Australian Business Number (ABN) history can be accepted when the loan is below 80% of the property value.

Evidence may include a lodged business tax return, an accountant-prepared profit and loss statement, or an accountant letter confirming enough profit to meet commitments and keep paying the salary. Documents must be current enough for the application. These options are generally limited to 80% LVR; the 18-month ABN option above specifically requires less than 80%.

See our self-employed home loan guide and compare NAB's income options before choosing which year or salary records to rely on.

If you narrowly miss Bankwest's normal repayment test, a limited refinance may qualify for a second assessment using 1% above the actual rate. You must first fall short under Bankwest’s standard repayment test and meet the conditions below.

Fees checked 7 September 2026 against Bankwest's variable and fixed loan pages. On a non-package fixed loan, a $10 monthly fee per offset account applies after the fixed term. Other bank and government charges can apply; check current fees before proceeding.

Our offset account guide explains the calculation. You can also compare Macquarie and ING for different account setups.

Bankwest bridging is only available through the Simple Home Loan. Your existing mortgage must already be with Bankwest or move across. Its public page describes bridging as usually up to 6 months; the broker policy reviewed allows up to 1 year. We’ll confirm the term Bankwest will approve and the repayment plan before you commit to the new purchase.

Compare the interest treatment, the debt while you own both homes and the debt left after the sale. Our bridging loan guide and Westpac review explain what to look for.

A family member can offer property equity to help with the deposit. Bankwest takes a first mortgage over the supporting property, with total lending against it generally capped at 70% of its value. You still need enough income to afford the repayments.

You cannot combine this with the professional waiver. The guarantor's home is at risk if the agreed debt cannot be repaid, so independent legal advice and a plan to release the guarantee matter. Our guarantor loan guide explains the arrangement.

ING may be worth comparing for a retired guarantor, depending on their assets and ability to meet the guarantee.

Bankwest is not listed for the Australian Government 5% Deposit Scheme or Help to Buy at our 7 September 2026 check. CBA participation does not extend to Bankwest. Check the participating lenders for the scheme you need.

A waiver or family guarantee can reduce the deposit hurdle, but leave money for purchase costs, repairs and a cash buffer.

An eligible high-density owner-occupier purchase may reach 95% LVR with LMI; an investor purchase may reach 90%. Off-the-plan purchases, developer sales and restricted postcodes can have tighter limits.

Send the contract, floor plan and property details before bidding or making an unconditional commitment. A pre-approval does not mean Bankwest has accepted the property. Our apartment loan guide covers the size and building checks.

The application turnaround times for the 4 September review were 1 business day for employees and some straightforward self-employed applications, 3 business days for applications from companies, trusts and partnerships, and around 15 business days for discharges. We’ll check the current queue against your finance deadline, allowing time for documents and the valuation.

We’ll explain which approval you have, when it expires and what conditions remain. Bankwest's public information does not set one standard expiry period for every pre-approval. If your search runs longer, we’ll confirm what Bankwest needs to update the approval, including your income, debts, deposit and assessment rate.

Bankwest has no branch network. You can manage your loan online, by phone or with broker support. Eligible ATM and Bank@Post services remain available for supported transactions.

If you are changing loans, check the rate, package and offset costs together. If you are leaving Bankwest, allow for its discharge process as well as the new lender's approval.

The lender pays us commission, which we disclose before you proceed. We compare the loan's cost and suitability and explain relevant alternatives. We must act in your best interests.