New Bankwest postcode tool adds simplicity for brokers

Bankwest has today launched a new Valuation and Policy Tool, which aims to make it easier for brokers to support customers through a simple postcode search.

The new tool will, for the first time, enable brokers to instantly view Bankwest’s LVR limits and maximum loan amount for the majority of postcodes in Australia, according to each property type.

The purpose of the tool is to help brokers avoid the need to cross-reference multiple sources of information to identify the maximum lending limit for a certain area.

Bankwest Head of Third Party Banking Ian Rakhit said Bankwest’s new LVR limits in Sydney, Melbourne, Brisbane and Perth mean a Bankwest home loan for the purchase of a high density, off the plan property has become a real possibility for buyers in those cities. Mr. Rakhit added the tool would prove extremely useful for brokers working with buyers in those areas.

“We know more and more people, especially first-time buyers, are looking to buy apartments and units. With the new LVR limits in place, this new tool will help brokers to find Bankwest home loans to as much as 90% LVR for these customers,” he said.

Mr. Rakhit said the new tool was the latest in a series of digital services Bankwest has rolled out to help provide a world-class suite of products and services to the broker community.

“Bankwest has been a long-term supporter of brokers, who provide an essential service that helps meet the needs of customers right across Australia and the new valuation and policy tool is a great addition to the suite of services we provide to brokers,” he said.

“Over the last two years we’ve prioritised investment in our digital and broker offering in line with our vision to deliver amazing customer experiences that matter.

“We’re in continual dialogue with brokers and we’ll continue to listen to feedback to ensure we design products and services that meet their needs and customer and community expectations.”