Auswide Bank (formerly Wide Bay Australia) was founded in 1966 as Queensland-based building society. They transitioned into a bank nearly fifty years later, in 2013, with the goal of providing low-deposit home loans to challenged the Big Four. In their words, they decided to change their name because for a number of reasons "including the geographic limitations of the Wide Bay name, the added 'security' that banks are perceived to offer, and the fact that many of our customers already believed we were a bank."
From those not-so-humble origins Auswide has gone on to offer a number of bankng and finance products to Australians, and has widely accessible ATMs and Branches around the country. In 2014, back when it was still Wide Bay Australia, it was named the "Best Building Society" by the People's Choice Awards.
As you may have already guessed, Auswide Bank defines their company and their reputation as a serious alternative to the big four, and by building an approach focused on being agile and nimble within the banking universe, they aim to offer competitive products that are more individually tailored than the offerings you might find at a larger institution.
As a result, many of their most popular products offer obligation free advice and pre-approval consultations, plus the availability of a Home Lending Consultant if you do decide to do business with them.
In order to apply for a home loan with Auswide Bank, you will need to be able to provide the following information:
- You will need to be at least 18 years of age
- Proof of Identification: Enough to pass the 100 point check, which can include your passport, birth certificate, etc.
- You will need to be able to provide evidence of your financial details when you apply, so make sure you hang on to your tax returns, pay slips, and other financial details.
- You’ll need to agree to having Auswide run a credit check.
- A list of your income against your expenses, which will show the lender a more complete view of your current financial situation as far as incoming and outgoing cash flow is concerned.
- A list of assets and debts - assets include things like existing properties and investments as well as savings, while debts are any open lines of credit or other loans, etc.
- Details about the property you're planning to buy, such as the price of the property and how much you are looking to borrow.