Bankwest: Changes to Credit Policy, Process & Valuations

Bankwest have introduced new assessment and underwriting guidelines effective 20 April 2020. These changes include:

  • COVID-19 additional Responsible Lending Questionnaire
  • Overtime, bonus and commission income capped at 80%
  • Casual income based on lowest payment annualised
  • Additional criteria for self-empoyed applicants
  • Digital valuations being used instead of physical where appropriate

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