Self-proclaimed modern online home loan provider is Well Home Loans, a family owned and locally operated online lender. Based on the model of simple, no gimmicks service as a direct to customer approach to home loan lending.
Without a physical branch, Well avoids the large overheads of the big four banks and prides themself on being an independent funding source for home buyers. Don’t mistake these guys for new kids on the block – the team at Well have around 40 years experience.
Based in Melbourne, the Well team aims to keep the home loan experience easy to understand for its customers and promise to pass on the savings made from their low overheads by offering competitive rates.
Please see the table below for a list of available products.
Currently Well offer three types of home loans that we have detailed below.
Well offers to pre-qualify you without an upfront credit report. In fact you can check if you qualify for a home loan in just 60 seconds online – for both new loans and to refinance your current home loan.
Well promise to offer great features at a great rate and offer you their lowest interest rate from day one. They also allow extra repayments and have options like 100% offset and will tailor options to your news. There are also options to 90% LVR if needed.
Their owner occupied rates start from 1.89% interest rate p.a. to a 2.18% comparison rate. Investors can enjoy interest rates from 2.24% p.a. to a 2.27% comparison rate. You can also split your loan into both fixed and variable portions.
Start on the Well Home Loans website and click through to their pre-approval process. Each loan product has specific lending criteria to qualify for a loan, but there are a few basics which you must possess. Basic criteria includes being at least 18 years of age, proof of Australian residency and a regular source of income.
The application process will require a few documents such as a proof of income, identification documents and any asset and liability documents.
Compare Well Home Loan rates with other home loans in Australia.