A lower rate may help reduce your repayments – find out more from our range of fixed and variable rate home loans.
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Refinance your home loan to us
We know that switching home loans can feel overwhelming, so we’ve made refinancing to Bankwest simple.
Why refinance your home loan to us?
Existing Bankwest home loan customers
Check out our range of guides to help you manage your existing home loan and make sure it's still working for you.
Variable rate home loan with less fees and less fuss
Bankwest Simple Home Loan
6.44%
p.a.
Variable rate
6.46%
p.a.
Comparison rate
Get started with a smaller deposit. Take control of your home loan by only selecting the features you need and you could save on fees. Plus, you can make extra repayments or redraw at no extra cost.
Rate subject to change. Owner occupied borrowings from 60.01% - 80% 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.
When it comes to home loans, brokers rate us the best
Australian Mortgage Award Winners
Australian Mortgage Awards, Bank of the Year 2021 and 2022.
Reasons to refinance
Save on your mortgage
Refinancing can give you access to a lower rate or different features, like offset accounts, that help you save on interest over the lifetime of your loan and ultimately pay it off faster.
Use your home equity
Refinancing gives you access to any equity accrued in your property so that you can reach your next goal, like buying an investment property or renovating. Calculate your usable equity to know how much you could refinance for.
Consolidate your debt
Refinancing can help you simplify your finances by combining other debts, like personal loans, car loans or credit cards into your home loan. This streamlines your repayments and can help you save on interest and fees.
Home loan guides
Whether it's your first house or your third, an investment property or building your dream place – we've got the answers to your home ownership questions.
Keep in mind – refinancing is subject to lending criteria and can incur other fees and charges.
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
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.
Refinance your home loan to a new lender and leave your personal loan as is
Consider consolidating your debt in to your home loan to simplify your repayments
Consider moving your personal loan to a new lender, as well as your home loan
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.
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.
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.
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.
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).