Auswide Bank was founded in 1966 as Burnett Permanent Building Society and, after being renamed several times over the years, finally became Auswide Bank in 2015. In 2025, it merged with MyState Bank and became part of the Mystate Limited Group.
Auswide Bank offers home loans, as well as personal and car loans, personal banking solutions and general insurance products.
| Offset accounts available | ✅ |
| Redraw facilities available | ✅ |
| Line of credit available | ✅ |
| Split rate option available | ✅ |
| Green loan available | ❌ |
| Ability to make extra repayments | ✅ |
| Internet banking available | ✅ |
| Salary crediting | ✅ |
| Choice of repayment flexibility | ✅ |
| Refinance available | ✅ |
| Services first home buyers | ✅ |
Auswide Bank’s range of home loan products on offer currently includes:
Auswide Bank offers home loans that may be appropriate for first home buyers, refinancers, those looking to build their own home on vacant land, those looking for bridging finance between their current home loan and their next loan, property investors and more.
However, when it comes to what types of borrowers Auswide Bank lends to, there are a few points that prospective borrowers should keep in mind.
The first is that Auswide Bank has a minimum required loan-to-value ratio (LVR) of 95%, meaning you won’t be approved for a home loan with Auswide Bank if your saved deposit is less than 5% of your total proposed loan size. Additionally, depending on the suburb your potential property purchase is located in, Auswide Bank may require a lower minimum LVR in order to reduce the perceived risk of lending against a property in that area.
Auswide Bank also likely won’t give you a home loan if you don’t have the capacity to repay your proposed home loan at a rate 3% higher than the advertised interest rate. This is because the Australian Prudential Regulation Authority (APRA) requires all lenders to assess an applicant’s ability to service their proposed home loan in the event of interest rate hikes.
Yes, Auswide Bank provides home loans to first home buyers. While they don’t have a specific home loan product designed for first home buyers, they have several tools and resources available to first home buyers designed to help them navigate the process of buying a home for the first time.
Yes, Auswide Bank is one of the 33 participating lenders chosen by the Federal Government to offer the Home Guarantee Scheme. The Home Guarantee Scheme helps certain home buyers secure a home loan with a deposit smaller than 20%, without having to pay lenders mortgage insurance (LMI).
The Home Guarantee Scheme is made up of three separate initiatives:
Applications for one of these schemes can only be made through a participating lender or a mortgage broker acting as an authorised representative of a participating lender.
Yes, you can switch your home loan to Auswide Bank from another bank by refinancing. Borrowers refinancing their loan with Auswide Bank can choose either a fixed, variable or split rate loan to switch to and can add a redraw facility and/or an offset account to eligible loans.
Auswide Bank advises that they require a borrower to pay lenders mortgage insurance (LMI) when there is an increased risk associated with the loan in question. They will typically charge LMI if the borrower’s deposit represents less than 20% of the total loan value.
As of April 2025, Auswide Bank charges the following fees on its home loan products:
| Fee type | Home Loan Plus | Basic Home Loan | Line of Credit with Freedom Package |
| Establishment Fee | $600 per application ($0 for Freedom Package) | $300 per application | $0 |
| Principal Increase Fee | $300 | $300 | $0 |
| Progress Payment Fee | $450 | ||
| Settlement Fee | $100 per application ($0 for Freedom Package) | ||
| Rate Lock Fee | The greater of 0.15% of loan or $250 | $0 | $0 |
| Package Fee | $395 per annum | $0 | $395 per annum |
| Account Service Fee | $10 per month | $0 | $0 |
| Mortgage Offset Administration Fee $75 ($0 for Freedom Package) | $0 | $0 | |
| Redraw Fee | $20 | $20 | $0 |
| Mortgage Release Fee | $400 per mortgage | ||
For more information, check the Key Facts Sheet for the loan you’re considering or speak to one of our expert mortgage brokers.
If you want to learn more about Auswide Bank home loans, you can use our home loan comparison tool to compare them against other home loan products from a range of lenders!
Comparing home loans with us means only being shown home loans you’re eligible to apply for, and having a dedicated team of expert mortgage brokers on-hand to help you with any questions you may have. And if you find a home loan that you think might be appropriate for you, you can apply for it then and there – entirely online, with no physical paperwork!
So, if you’re in the market for a home loan, compare your options today with Compare the Market!
Stephen has more than 30 years of experience in the financial services industry and holds a Certificate IV in Finance and Mortgage Broking. He’s also a member of both the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Mortgage and Finance Association of Australia (MFAA).
Stephen leads our team of Home Loan Specialists, and reviews and contributes to Compare the Market’s banking-relating content to ensure it’s as helpful and empowering as possible for our readers.
