Beware the age barrier discrimination.
I did the full application on line which is very thorough, the website said congratulations I meet the criteria and a consultant would be in touch. Great. so far so good.
The next business day I got a call saying that I was too old. Even with a constant income stream to cover the loan. Age is one of the first things asked for on the application.
A waste of time applying.
Over conservative and heartless lender
Time wasted as Well is backed by Bank Adelaide.
Both Well and Bank Adelaide are so reluctant about bonus payment and they even ask the employer to issue assurance in COVID-19, well done. The test criteria are set to turn you down with 5.5% interest and high monthly expense assumptions. In the end, you will be borrowing at less than 5 years of base salary.
Heartless lender, wouldn't recommend to anyone. Came here by word of mouth from OzBargain but clearly they do not deserve any reward and good borrowers at all. Will see how they survive in the future.
Would not recommend
Due to delayed and no communication from well home loans, it caused my life savings to disappear.
I am here to WARN you all to proceed at your own risk.
We are in recession currently due to COVID19 pandemic.
Well Home Loans not recommended at all.
John from credit assessment team is shame.
My experience with Well Home Loans was horrible, I just wasted my time & effort. Even though they offer cheap rates, this finance provider cater for selected clientele. Good for people who work Monday to Friday with fixed salary. They don't consider people work on rosters / on wages / on fringe benefits. Also, they consider only desktop valuation. They don't conduct a physical valuation.
Find out how Well Home Loans compares to other Home Loans
Know better, choose better.
Appalling customer service, 1 month of no reply despite 7 follow up emails/phonecalls
I have been absolutely appalled by the terrible customer service I have received from Well home loans this past few weeks. It has now been more than one month since I have had any contact from Brett, our supposed home loan consultant, despite a couple of follow up emails and several phone calls to him directly and to the 1300 number. Having been sick of being unable to contact Brett, I have spoken to Patrick on 2 occasions and requested some form of update to absolutely no avail, despite his assurances on both occasions that either Brett...or he would be back to me by the end of the day (now more than a week since my last phone call). I am not a demanding customer, however the behaviour of the representatives of Well home loans has meant that I will never recommend them as a lender to my peers, colleagues or family members. All that would have been required to appease me would have been a quick follow up email or phone call to update me on the process to date and whether anything further is required. However a distinct lack of respect and regard for me as a customer has left a very sour taste.
Questions & Answers
Can I still borrow (First Home Buyer)even if I have a saved deposit amount that is less than 20% of the property price? ty
As a First Home Buyer, we understand that it can be tough to keep saving for that deposit. We have options that allow for up to a 10% deposit (that is a 90% LVR). To help you out and crunch some numbers so you can see what your options are, it might be best to get in touch with our home loan experts and you can book an appointment direct with them at this link: https://wellmoney.link/book-pr
hi there no variable homeloans with your compnay
Hi Daz, we certainly do have variable rate home loans - they are actually our most popular home loan type! We have variable rate offerings for both Investment and Owner Occupied home loans. You can see our variable rates on the website - https://www.wellhomeloans.com.au/home-loans/low-rate-owner-occupier/
Hope that helps!
HI, we are looking to refinance approx. $150,000 but split, part variable and part fixed with several offsets on the variable and redraw capabilities. Is this scenario something you can package?
On our Well Balanced home loan we can accommodate split loans (part fixed, part variable) and we also allow multiple offset accounts (though each one will attract the standard offset fee). The only issue we would have with your scenario is that our current minimum loan amount is $200,000.
Thank you, how much are the standard offset fees? We currently enjoy fee free offsets accounts.
No worries Cody,
Our 100% Bank-backed offset account attracts a $10 per month fee and you also get access to a Visa Debit card for using your offset. The offset account itself sits with a major bank so it's protected as per the Financial Claims Scheme and not a sub-account like other non-bank providers. There's also no change to our interest rates to include an offset account.
Hope that helps!
Get an answer from our members and Well Home Loans representatives
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.