Manage my home loan

Learn how to make the most of your Bankwest home loan, even when your circumstances change.

Everyday admin with my Bankwest home loan

So you've secured a Bankwest home loan? Congrats! Here's what you need to know to help you manage it day to day.

Manage my home loan online and on the go

Online banking and the Bankwest App are super handy ways to manage your home loan. You can see your loan balance, transactions and statements, as well as make and change your manually scheduled repayments (although there may still be some things you'll need to check your home loan statement or call us for if your loan has multiple limits).

Managing my repayments

How to make repayments

You can use the app or online banking to manually schedule your repayments from your Bankwest bank account to your home loan.

It's important to make your minimum monthly repayments on time, which is the lowest amount you need to pay each month to meet the terms of your home loan contract.

Redrawing my surplus repayments

A home loan redraw facility lets you access any repayments that you’ve made above the minimum required repayments.

Redrawing the surplus funds in your home loan means you may not have to apply for another loan or a credit card.

Redrawing your extra repayments will also mean that those funds are no longer reducing the interest on your home loan.

Keep in mind that if you have the Fixed Rate Home Loan, you won't be able to redraw any surplus funds during the fixed rate period. Once your loan shifts to variable at the end of the fixed period, you can then redraw any surplus funds.

Understanding my home loan and repayments

Understanding interest rate rises

Need to make changes?

There are several ways that you can make changes to your home loan repayments, whether you choose to alter the repayment amount, frequency or type.

Keep in mind that depending on how you set up the repayment initially – be it on your own or with Bankwest's assistance – will impact who can implement those changes.

Paying off my home loan faster

Reducing your home loan interest – even by a small amount – can have a big impact on how much you end up saving on your mortgage in the long run and the time it takes to pay it off.

Making extra repayments

Any additional home loan repayments you make will build up in surplus. The bigger your surplus, the less interest you'll be charged on your home loan. Even if it's a small extra repayment every week, the savings can be huge.

Keep in mind that if you have a Fixed Rate Home Loan, you can make extra repayments during the fixed rate period but you won’t able to access the additional funds while the loan is fixed.

Using an offset account

It's an everyday bank account with a money-saving twist – any money you have in your offset transaction account is linked to your home loan and ‘offset’ against the balance in your home loan account, reducing the amount on which interest is calculated that day.

Increasing, reviewing and refinancing my home loan

As our lives evolve, sometimes we need a home loan change to match. And that’s ok! We provide home loan health checks to ensure that you have the right one and you’re making the most of it or recommend a better option for your situation.

Things to consider

Find more home loan help here.

Home loan calculators

Use these mortgage calculators to guide you in your home ownership journey. Or, view all our home loan calculators.

Other home buying guides

Our guides are designed to support you when you buy a home, wherever you may be on your journey.

Building a home or planning a major renovation? Construction loans are designed to help you get there.

Looking to invest in property? Here’s everything you need to know about investment home loans and rates.

Whether you're buying a second home or an investment property, there's a few things to consider that could be different from your first time around.

We know that switching home loans can feel overwhelming, so we’ve made refinancing a little more simple.

Need help getting the most out of your loan?

Book time with a Home Lending Specialist – when and where it suits you. Talk on the phone, meet at a branch, or have a Mobile Lending Manager come to you.

The information contained in this article is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.