How to Apply for a Bankwest Home Loan?
A Bankwest home loan seeker can apply for a ‘conditional pre-approval ’ or fill in the bank’s online application form to file a home loan request.
If you’re still in the initial stages of your home-buying journey, a conditional pre-approval can go a long way in establishing your credibility with real estate dealers and sellers. A conditional pre-approval letter communicates how much a lender is willing to lend based on an individual’s financial status. For the homebuyers, it gives a practical idea of the amount at their disposal and for home sellers, it establishes confidence in the prospective buyer.
Bankwest’s conditional pre-approval of home loans has a validity period of 90 days. You can contact the bank’s helpline or visit a branch to apply. One should carry id proof, income proof, investment certificates, deposit proofs and the cost of the concerned property while applying for a conditional pre-approval. The application usually gets approved within 1-2 weeks.
Bankwest home loan application is a simple and hassle-free process. This facility allows you to apply for a home loan in the comfort of your home. A Bankwest home loan can be applied by following these simple steps.
- Log on to the bank's website.
- Under the ‘Home Loans’ category, click ‘Start Applying Today’.
- Fill in the required personal and property-related details.
- Confirm your age and Australian citizenship/residency by ticking the checkbox.
- Click on submit.
After submitting the application, the bank will contact you to proceed with the loan application process.
Bankwest also accepts home loan applications through branch visits. An appointment with the bank’s Home Lending Specialist can also be arranged to access door-step loan application services. Further, certain eligible applicants can also apply for Bankwest’s Private Bank service to apply for a home loan.
Bankwest Home Loan Calculator
Home loan calculators can be used for several purposes. Calculators not only help an individual ascertain EMI costs but also their borrowing power. Bankwest provides many home loan calculators on its website, free of cost. Look at some major calculators:
- Borrowing capacity calculator
- Home loan repayments calculator
- Offset calculator
- Stamp duty and LMI calculator
- Refinance calculator
An online calculator is easy and simple to use. Follow these basic steps to get estimates from an online calculator.
- Choose the desired online calculator under the website's ‘Home Loan Calculators’ section.
- Enter the required values.
- Get immediate estimates in figurative and graphical representations.
Tips for Improving Your Chances of Approval for a Bankwest Home Loan
- Choose the Right Interest Rate: If the Bankwest home loan interest rates are expected to soar soon, one must opt for a fixed interest rate. If the interest rates are expected to fall, a variable rate will be a wiser decision.
- Save More: Lenders place their trust and confidence in applicants who have a regular discipline of making deposits. Making regular deposits and carrying proofs of existing ones increases an applicant’s chances of impressing the lender.
- Credit Score: Maintaining a solid credit rating is a prerequisite for any loan approval. Banks offer credit and debt services only after thoroughly establishing a borrower’s financial credibility and credit history.
- Good Debt-to-Income Ratio: Home loans in themselves are big borrowings. Try settling your previous debts before applying for a home loan to ensure you’re not burdened with additional liabilities.