An approved in principle letter (also known as a pre-approval) gives you a clearer idea of what you can afford, based on the information you give us.
A conditional approval happens after we've validated and assessed your information, putting you in a stronger position when you make an offer.
A Home Lending Specialist can guide you through the process and talk to you about which letter might suit your needs.
Don't worry, it's simple stuff. It includes your:
Once you've had an offer accepted on a property, or you're ready to proceed with your refinancing, we'll need a bit more information from you.
Applying at a branch
Pop down to your local Bankwest branch with an original or certified copy of one of the following:
For more detailed information, see a handy list of ID we’ll accept.
You can skip a trip to a branch with our electronic ID check.
Do you work for an employer? (PAYG)
If you earn PAYG income not paid into a Bankwest account you’ll need to provide two of your most recent consecutive payslips.
Do you own your own business or subcontract? (Self-employed)
We’ll need to see two of your most recent Notices of Assessment from the Australian Taxation Office showing your earnings for these financial years. We may also need copies of your taxation and financial reports from your accountant. These must be from within 18 months of the application submission date.
Do you receive income from a…
If you receive any additional income (such as Centrelink benefits or trust income) that you want to include on your application, we’ll need confirmation of this.
We’ll need to see one month’s worth of statements for your everyday bank account. Already have a transaction account with us? Easily access a proof of balance or customised transaction summary – see how.
If you have any debts (like credit cards, store cards, car loans or home loans) outside of Bankwest, we’ll need to see a month’s worth of statements for each one. The statements must be from the last 45 days and show your:
If – like most people – you plan to pay a deposit, you’ll need to provide proof of your savings (such as your most recent savings account statement).
You’ll need to provide six months’ of recent home loan statements from your other financial institution. If you’re refinancing a personal loan or credit card as part of the loan, bring in your most recent three months’ consecutive bank statements for each debt. The statements must show the:
We’ll need a copy of your fully signed offer and acceptance/contract of sale.
We need copies of:
We’ll send your contract documents to you, which you’ll need to sign and return to us. You’ll need to provide building insurance documentation to us before settlement or – if you’re getting a construction loan – your final progress payment. See the home insurance options we can arrange through our partner CommInsure.