Refinancing your home loan

Get less home load by refinancing your home loan to Bankwest. Switching to a loan that's better for you should ease your burden, not add to it. See how we can help you refinance your home loan.​

$2,000 cashback when you refinance to us

If you’re eligible and you apply to move your home loan to us by 30 June 2022, you could get less home load with $2,000 cashback. 3

Loan must be funded by 31 August 2022. Min. refinance amount $250k. For borrowings up to 90% (including lenders mortgage insurance) of the property value. Excludes refinances from Bankwest and CommBank. Eligibility requirements and T&Cs apply.

Why refinance your home loan to us?

Search for a lower rate

A lower rate could help reduce your repayments. We have a range of fixed and variable rate home loans to choose from.



Pay less home loan interest

Slice and dice your money into multiple offset accounts to help you manage your money while saving on home loan interest.



Flexible repayments

Pay weekly, fortnightly or monthly. Plus, make extra repayments and redraw them when you need.



Your very own Home Lending Specialist

Our Home Lending Specialists help make the process easier – and our Mobile Lending Managers come to you. Book time to suit you.



Track your application online in real time

More clarity, less waiting and wondering with our Home Loan Application Tracker.



Sign your loan documents online

View, sign and return them anytime. Plus, less printing saves time and paper. 1



Should you refinance your mortgage?

Refinancing might be for you if you want a lower interest rate, more flexibility, to consolidate debt, or to use your equity to renovate or invest.

A variable rate to enjoy

Premium Select Home Loan


Variable rate


Comparison rate

A discount off our standard variable rate isn’t the only thing to look forward to. There are less fees to think about with no account maintenance fees or annual fee for the life of the loan. Plus, you can add an optional 100% offset account to help save on interest. 1 Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply.

Rate subject to change. Owner occupied borrowings up to 70% of the property value for principal and interest repayments. Minimum loan size of $20,000. Understand the comparison rate.

Refinance savings calculator

Wondering how your home loan compares? Get an idea of the interest and time you could save by switching to Bankwest.

Delve a little deeper into refinancing

Our easy guide to how refinancing works.

You might want a lower interest rate, more flexibility, to consolidate your debt or to use your equity to renovate or invest.

Already got a Bankwest home loan?

Make your home loan work hard for you. Here are some things to consider.

We’re ready to help

Your very own Home Lending Specialist will respond within one business day. You can talk on the phone, meet at a branch, or have a Mobile Lending Manager come to you.

Your home loan refinance questions answered

Answers at your fingertips


Can I refinance my home loan if I have a personal loan?

If you're looking to refinance your home loan to a new lender and have a personal loan, you have a few options. Remember to carefully consider interest rates and repayments when making changes.  ​

  1. Refinance your home loan to a new lender and leave your personal loan as is​

  2. Consider consolidating your debt in to your home loan to simplify your repayments​

  3. Consider moving your personal loan to a new lender, as well as your home loan​


Can I refinance my home loan while in arrears?

Whether you refinance or take out a new home loan, we'll undertake certain serviceability and credit assessments to ensure that you can manage repayments going forward. If you're currently in arrears, then you may need to provide evidence and explanations to help us understand why.​

Remember, if you are finding it difficult to make repayments, it's important that you discuss options with your lender who might be able to help you with financial hardship assistance.


When can I refinance my home loan?

You can consider refinancing your home loan anytime. However, if your Loan to Value Ratio (LVR) is over 80% you may need to contribute towards a deposit or pay Lenders Mortgage Insurance (LMI). If you're currently on a fixed home loan, you might also encounter break fees.​


How much does it cost to refinance a home loan?

When you refinance your home loan to a new lender, you essentially take out a new loan. Therefore, you'll encounter similar application and bank fees. You should also check with your current lender whether any discharge or break fees apply. The good news is that you won't need to pay stamp duty when refinancing, as you already own the property. To get started and find out more, chat to a Home Lending Specialist.


Can I refinance my home loan with the same bank?

Refinancing your home loan with the same bank is what we call a Home Loan Transfer. This is when you want to make changes to your home loan like borrow more, consolidate your debt or extend your term. Chat to your Home Lending Specialist to see what's possible.


Do I need a deposit to refinance my home loan?

You'll only need a deposit to refinance your home loan if your Loan to Value Ratio (LVR) is more than 80%.  If your LVR is more than 80%, you'll need to contribute your own funds, use any surplus in your mortgage if you've made additional repayments or you may need to pay Lenders Mortgage Insurance (LMI).​

What’s the comparison rate?
It’s a tool that can help you identify the truer cost of a loan. It’s calculated using a standard formula that includes the interest rate, as well as certain fees and charges relating to a loan (not all fees and charges are included).

Comparison rate warning:
Rate subject to change. Comparison rate is calculated on the statutory assumption of $150,000 loan over 25 years. Different rates apply for different loan amounts and may depend on the duration of a fixed rate period or the ratio of the loan amount to the property value. Lending and eligibility criteria, fees and charges and T&Cs apply and are available on request. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

  1. Digital signing – some exclusions apply. Due to state laws, restrictions apply to digitally signing the Mortgage Form in some States and Territories. Customers must have access to a device (computer or tablet recommended) with internet and email access.
  2. Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply.
  3. Home loan cashback promotion is available to Australian residents aged 18+ who refinance a property with a new Bankwest home loan.

    • Home loan application must be submitted for full approval within the promotional period 12 November 2020 and 30 June 2022​
    • Home loan must be funded on or before 31 August 2022​
    • Lending must be new to Bankwest (refinances of existing Bankwest and CommBank loans are excluded from this offer)​
    • Lending must not exceed a loan to value ratio (LVR) of 80% for applications received from 12 November 2020 to 14 September 2021​​
    • Lending must not exceed a LVR of 90% (including lenders mortgage insurance) for applications received from 15 September 2021 to 30 June 2022
    • Repayment type can be principal and interest or interest only
    • Available on owner occupier and investor home loans
    • Minimum home-loan-specific refinance amount ≥$250k (excludes debt consolidation of personal loans and credit cards)
    • Any available Bankwest home loan product is eligible
    • Normal lending policies apply
    • This offer is not available in conjunction with any other promotions
    • Only one cashback per Eligible Customer. Only one cashback per eligible home loan. Where a home loan has more than one applicant and one applicant receives the cashback, all applicants are deemed to have received the cashback. Maximum cashback amount of $2,000
    • Eligible customers will receive $2,000 cashback transferred electronically into their new home loan account.

    See full T&Cs (PDF)