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BankWest Home Loans

BankWest Home Loans

1.8 from 77 reviews

See the Best Home Loans in 2019 as rated by Australians on ProductReview.com.au.

Be careful shop around before you lock yourself up

Been with Bankwest since 2001 and was happy until I applied for my first home loan in 2011. First issue was in the first week, they had typed my full name incorrectly, and I had to refill the accepted loan forms, leave my work and drive visit their branch in vectorial park in WA. Interesting this had happened 4 times and I again had to refill the forms etc. and ask the bank manager to make sure it won’t happen again.
I was in a high rate above 5% due to my small savings, but after I was 50k a head of my repayments they never offer my a better rate or refinance. I did a refinance but I later noticed that they put me in a the top rate of their home loan packages with $395 additional fees every year. I’m now 200k a head of repayments and been trying to negotiate with them to offer me the rate they are giving to new customer. II must say that the experience I’m now having with Bankwest is the worst. You ask, they ignore you and 4 days later you hear nothing but useless answers. They simply do not care if you stay or leave, and their service became even worse since they merged with commbank. My sincere advice is to get a loan from a flexible lender even if they are not a bank. I will never deal with Bankwest again and will move to either Athena,u bank or loans.com,au

Customer Service
Application Process
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2010
Loan used for:First Home

Permanent residency is not enough

I found them being discriminatory regarding the permanent residency criteria. I got rejected because I am a permanent resident through partner sponsorship. I am a full permanent resident (801), not even a temporary one! Their website claims it's sooo easy to apply for a loan, and only mention the PR requirement, not the type of PR.

Customer Service
Application Process

Do not conduct ethical practices

Before disbursing any amount towards any progress payment regarding construction they want customer to pay any variation that they opt separately regardless of that variations was actually delivered on not. If bank themselves doesnt pay themaelves without invoices then why they want customer to pay for something that was not delivered. Is it ethical? No sense at all jungle rules they apply for customer purely unethical. Before settlement of lan loan there was shortfall of around $30k from bank and it got fixed only in last minute before they realised their mistake. Unbelievable

Home Loan process is the worse by far

Took out a loan with Bankwest at Livingston branch recently and dealt with a foreign guy there.

I must say it did not go smoothly at all and in fact, it was the worse i've ever gone through. He wasn't knowledgeable with the process and kept telling us he understands where we are coming from.

However when we tried to call for him, he ignored our calls completely. I had loans with commonwealth, westpac and other institute and never had this much issue.

Their rates are good but extremely poor customer service.

FYI: He rolled his eyes on me.

The worst of the worst...

Do yourself a favour and avoid this bank - they need their own royal commission. I'm leaving with my 2 mortgages and going elsewhere after 12 years - and saving a massive $570 per month in the process. The latest unexplained rate hike is the final straw. Bankwest have zero interest in retaining loyal customers. They WILL NOT match other banks rates and think they are doing you a favour by having you as a customer. Neogotiate rates with them.? Don't waste your time - just move banks. If you're an owner occupier with a variable mortgage you should be paying around 3.7% - under 3.7% if your mortage is over $1m. Bankwest are charging me 4.14%. How can anyone be in business and not know what their competitors are charging.? Rude, indifferent and alarmingly ignorant staff who simply have no idea what is happening out there in the market. Most branches have now closed in NSW. Get the best mortgage broker you can possibly find - normally that's yourself. Rate City is a perfect start. I honestly hope that if enough customers leave this bank they will go under. I know I'm not alone judging by the appalling comments of others on this website. My tip is Bank Australia - please check out their reviews on this site yourself.

Worst bank owned by CBA

My experience has been hell. The loan was unaffordable they accepted flase info from broker unbeknowance to us. Set me up to take both properties. Put interest rates up shortly after. The loan was taken out. Charged excessively. Fees every five mins. I hope the royal commission sorts out the customer relations people who think they are a law unto themselves. Shame on you.

Customers is a piece of crap to Bankwest

After to take the loan you are like a football in the field they will play the game if you are clever like me you can come out with smart exit good luck guys
Bankwest think customers are stupids and idiots

Bankwest has not given me 1.51% discount on Equaliser Home Loan, false adversiting

I am new home loan customer of Bankwest and as advertised on Bankwest website I applied for Equaliser Home Loan. As per website I should get 1.51% discount but only 1.35% discount has been applied. Bankwest is lying to customer and misguiding customers to get new home-loan business.

Do not go with Bankwest as they do false advertisement on the website and cheat customers

home loan approval top up

Hi have been with bankwest for sometime ( watergardens vic), I gave the so called their best and in high demand loan specialist, after giving them everything and only been able to reach them via txt or email ( my choice), I am only to find out via call center the loan manager went and cancelled my top up with out our approval. Going to a different bank NOT HAPPY WITH THEO.

Bankwest Zero Interest to retain Customer . Just Switch Your home loan instead of calling the Bank !

I have just look up my housing loan rates realized that it is on high side . I manage to find a few other which offer lower rates than them and even their own new product have lower rate than what i have now . So I have just call Bankwest CSR to have a chat with them about it to see if they can reduce it . The CSR told me they could not do anything about it and told me i can reapply for a new loan . I was stumped .... it would have been easier for them to just reduce my rates but no ..... i have to reapply . I told them if that is the case i could have just apply with another bank which have even lower rate than whatever they are offering . She was telling me there is a discharge rate of $600 . I let her know that my rate difference will cost me an extra $1400 every year even after the discharge from their bank and after i apply with another bank , i will still save around $800 . It is just that they have been alright so if they could make a slight change i would have stay else i would need to move on to reapply with another bank . Even after all that , she still tells me that she could not do anything about it and it is sad to see me go ... lol . Bankwest have Zero interest to retain good customer . Dont waste your time calling the CSR . Just switch .

How long does it take to get a mortgage approval

We applied through a broker for a construction mortgage 19 days ago & broker keeps saying this Friday or this Monday so called them & apparently they can get a decision in 5 days so explain we've been waiting 19 days and had valuation 14 days ago apparently takes longer with a broker & can take up to 6 months. Go figure?

About the same as other banks

Don't ever try to apply for a debit mastercard. I tried for 3 months with no success. I was told not enough equity in my mortgage so i put 100.000 dollars onto my mortgage still no luck now i am looking for another bank.


Whoohoo finally granted unconditional approval state manager approved well done bankwest sense prevailed
Now let see how we go.I will give bankwest thumbs up for acknowledging their errors.

BankWest (IN)complete home loan

Just found out that the BankWest 'Complete' Home Loan I have (that costs $399 per year), isn't as complete as I was led to believe, with it not including an Easy Transaction (or basic streamline) account, and have been charged extra for this 'premium' service they offer.

BankWest will charge you for any little thing you want to do with your account.

They also offer crap deals to existing clients, when I refinanced they couldn't help in the slightest, however my mortgage broker was able to get a significantly better deal! They don't care about the clients they do have, and poor retention is going to hurt them in the long run!

They are happy to let good customers go rather than offer a better deal

I've previously had little to complain about as a Bankwest customer. The service has been mostly good, and home loan rates have been competitive until recently.
I am trying to fix the interest on my 3 home loans and they will not give me a better deal than what they are offering new clients.
I am switching to a competing national bank as they are offering me a much better interest rate and also giving me a discount incentive for bringing three new loans to them.
I have advised this to Bankwest and even had the enquiry escalated. I reasoned that they will have to incur a lot of costs to take on three new customers to make up for my lost business (and a credit card too). They concurred with my logic but "unfortunately cannot do anything".
I spoke to a really helpful and emphatic CSR but I am surprised that Bankwest will let a client go that easily, and have to pick up the costs with drumming up new clientele (and legal/valuation fees) to make up for this loss of business.
Also, I will have to pay the standard mortgage discharge costs for 3 loans at $600 each, which is going to hurt.

Be mindful of this before becoming a Bankwest customer

Slow, slow, slow

If you want anything done within a reasonable timeframe, forget Bankwest. Customer service when it comes to timeframes are woeful. When I purchased my property in 2009, I had dreadful troubles with Bankwest. I had to chase them regularly, have the matter escalated and they put my settlement in jeopardy because they couldn't do the work within a reasonable timeframe.
Now that I want to discharge that mortgage because it has been repaid, still more delays. It takes up to three days for them to just call back. I asked for a discharge form so that I could send that in but I was told that I could only get that by speaking to a particular group which, of course, could take up to 3 days for them to call me back ...
Stay clear because it is hard to express how much stress they have caused me previously and now that I can't even get them to send me a simple form.

Not so bad after all

We had some issues with our home loan, land & construction. Lots of mistakes! The issues have since been resolved and the customer service has been good and able to answer all our questions.


If I could give zero stars I would. Up to this point I have gone to BankWest for every property loan so I would say I am pretty loyal customer. They have made tens of thousands of dollars in interest and fees from my loans over the last 8 years - I would hate to actually add it up. I submitted a new construction loan application 6 weeks ago and they are still giving me the run-around. Suffice to say my builder is not happy. Same deal as Michael on Mar 21, 2016 - they keep asking for the same information that has already been supplied. Every day they mess me around I am paying out thousands of dollars in interest and holding costs. Beware going anywhere near BankWest or run the risk of losing hours of time and lots of money. Don't say you weren't warned. I will be switching all of my borrowing to a lender who actually knows what they are doing.

AWFUL! Once you are locked in, don't expect any service

We joined bankwest earlier this year. Service was OK so I disregarded all of these reviews, much to my regret. Basically, now that we are locked into a product we have zero service. Seriously considering breaking the fixed term period. The online message center is a waste of time, I was on the phone for 1 hour transferred to 4 departments then provided with a secure code and said that I would be contacted within 24-48 hours, one week later I'm still waiting for the call. Simply unacceptable! I will never recommend bank west to anyone, nor will I ever apply for another of their products. Staff are useless and have zero expertise and zero product knowledge. Avoid Avoid Avoid

Bankwest Home Loan Annual Fee SUCKS

Last year 2015, get a home loan deal from bankwest, but the catch is to pay annual fee thereafter, charges here and there, please take cautious when dealing with banks, esp bankwest. A great deal of charges, for this and that too.

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Questions & Answers

I have been approved a house loan through BankWest, how long before a contract runs out after you sight?
1 answer
It will say in your letter of offer (provided it is the actual approval, not pre-approval). There is a sect ion that states how long you have to accept.

As there are very good rates out there at the moment, am looking at refinancing away from bankwest. How much is their discharge fees?
3 answers
Please refer to their website.Hi Zach, there should not be any loan discharge charges if the loan was taken after 2011. Although there will be few Government charges like Mortgage registration /de-registration $1 14.00 etc. Best to call the bankwest loan division and ask them for charges in black n white. The best I could see online was 3.99% but I'll be wary of all the application charges and other charges that are included. Please feel free to ask me any questions and I'll be happy to help. I will be very cautious next time as this experience burnt me pretty good.I paid off my BW Premium Select Homeloan last month. Fees were: (1) Mortgage Discharge $300 (2) Legal Fees $25 (3) Bank Cheque $7.50 all payable to BW and (4) VIC Mortgage Discharge Rego $114 (Vic Gov Fee)

I mean thinking of refinancing and are exploring my options. I have read about bankwest and...how easy is it to swtich and change and what support does the bank give?
3 answers
I refinanced with them in October 2014. I am now switching to another lender. They do not pass on interest rate cuts in full. They do not notify you of change in interest rates. They do not notify you of an increase in offset account fees. They do not notify you if an account is assessed as dormant and shift it to Gov control. It took months to get it back. They do not recognise Enduring power of attorney despite other banks recognising legal documents. They will not return your calls. Communications is very poor with 3 specific examples (each resulting in my loss). Absolutely hopeless.IDKK, how much did they charge for discharging your loan?See my review regarding "bait & switch". I took my home/investor loans elsewhere for a better deal. Borrowings totalled in excess of $1.3 million.

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