Bankwest launches valuation tool for brokers

The bank added that the tool will enable brokers to “instantly view” Bankwest’s loan-to-value (LVR) limits and maximum loan amount for the majority of postcodes in Australia, according to each property type.

The Commonwealth Bank subsidiary claimed that the tool would help brokers avoid the need to cross-reference multiple sources of information to identify the maximum lending limit within a certain location.  

Bankwest’s head of third-party banking, Ian Rakhit, said Bankwest’s new LVR limits in Sydney, Melbourne, Brisbane and Perth would increase the possibility of home loan settlement for the purchase of a high-density, off-the-plan property.

“We know more and more people, especially first-time buyers, are looking to buy apartments and units. With the new LVR limits in place, this new tool will help brokers to find Bankwest home loans to as much as 90 per cent LVR for these customers,” he said.

Mr Rakhit noted Bankwest’s commitment to the broker channel, adding that the lender has invested in its digital platform to enhance the broker experience.

“Bankwest has been a long-term supporter of brokers, who provide an essential service that helps meet the needs of customers right across Australia, and the new valuation and policy tool is a great addition to the suite of services we provide to brokers,” he added.

“Over the last two years, we’ve prioritised investment in our digital and broker offering in line with our vision to deliver amazing customer experiences that matter.

“We’re in continual dialogue with brokers, and we’ll continue to listen to feedback to ensure we design products and services that meet their needs and customer and community expectations.”

[Related: Virgin launches new digital portal for mortgage applications]