What you need to apply for a home loan.
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Identification, income and expenses
For home loan applications we’ll need to identify you and collect information to better understand your financial situation.
Identification
We’ll need to confirm your identity when you apply for a home loan.
Check out the list of identification we accept.
Income details
Working as an employee
If you earn pay as you go (PAYG) income, provide your most recent payslip.
Working as a sole trader or business owner
If you’re self employed, check out our guide to home loans for self-employed.
Rental income
If currently leased, provide a copy of the signed lease agreement or rental statement from your managing agent.
Other types of income
Other income types that may be considered include (but not limited to):
- Commission
- Allowances
- Government pensions or payments
- Superannuation
Expenses and liabilities
We’ll require some information regarding your expenses. These include things like:
- Bills
- Groceries
- Insurances (car, home and contents etc)
- Transport
- Subscriptions.
In addition to expenses you’ll also need to provide details about any debts you have outside Bankwest, like credit cards, loans or buy now pay later.
We’ll need to know:
- Current limit and balance
- Repayment amount
- Remaining term
- Interest rate.
Additional documents
We’ll require a copy of your building insurance or certificate of currency prior to settlement. We may also ask for other information or documents as required to help support your application.
Contract of Sale
We require you to provide a ‘Contract of Sale’ or ‘Offer and Acceptance’ if you’re purchasing a home or vacant land.
It will need to include:
- Your full name as the buyer
- The date on which you made the offer
- The address of the property
- The title details
- The purchase price
- The intended settlement date.
Building contracts and plans
If you’re building a new home, or renovating, we’ll also need building contracts including plans and specifications.
Building contracts
Fixed price building contracts, draft building contracts or construction tenders are accepted. We’re unable to accept cost plus contracts.
Your contracts will need to include:
- The agreed price and terms of work to be undertaken by your builder
- Plans - detailed drawings of the building to be constructed
- Specifications - list of specific items to be included in your building, such as, materials and finishes
- Progress payment schedule - this shows how much needs to be paid to the builder at each stage of construction.
Licensed builders
We require that you have a licensed builder to complete your home or renovation. Owner builders are not accepted. You can check if your builder is licensed by visiting your local state government building authority website.