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Well Home Loans
4.8 from 150 reviews · View Statistics
See the Best Home Loans in 2022 as rated by Australians on ProductReview.com.au.
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Reviews

4.8
150 reviews
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Great service!

published

The homeloan process was easy and efficient. The customer service representative was helpful, and the process was straight forward. They were available when needed. A friendly and personal service. The bank is online only, but if you do need to withdraw cash you can pay a fee to go into a branch. We are new customers, but very happy with the service so far. I would like to see the bank offer sub-accounts in the offset, which is not currently available.

Transparency
5/5
Customer Service
5/5
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fairymum
fairymumSydney, NSW

Investment loan

published

I have an investment loan with them and the process was relatively quick and easy. Rate is great, too. Would recommend them to friends or family. Better than big banks.

Transparency
4/5
Customer Service
4/5
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Very helpful

published

Glenn was very helpful and patient when i sent the wrong documents and got me a great investment rate, has been a while since i financed a loan and was pretty simple steps till settlement

Transparency
4/5
Customer Service
4/5
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A Great support

published

Glenn was very helpful, and answered all the question we had. We got all everything we asked for, and yes Very satisfy with the loan. I would recommend Wells home loan to anyone..

Transparency
4/5
Customer Service
4/5
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andrew
andrewGreater Melbourne (Outer), VIC

Beware the age barrier discrimination.

published

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.

Incentivised Review No
Loan TypeFixed Rate
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Red Guard
Red GuardSouth East Queensland, QLD

Over conservative and heartless lender

published

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.

Transparency
3/5
Customer Service
3/5
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Gavin
GavinSydney, NSW

Great result - would recommend to others who are comfortable with phone / online banking

published

I applied for a home loan with Well because they offered the best rates and features for my needs. There is a learning curve associated with applying for a loan and going through the process online / over the phone, but John (the loan officer looking after my application) was very responsive and helpful. Overall I would recommend as the benefits of the lower rates outweigh the challenges of the 'remote' application.

Transparency
5/5
Customer Service
5/5
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Sam
SamAdelaide
  • 3 reviews
  • 1 like

Would not recommend

published

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.

Transparency
1/5
Customer Service
1/5
Well Home Loans
Well HQ.Well Home Loans
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Good interest rate....painfully slow process

published

Customer service was mostly friendly and helpful
Costs were pretty much as expected
Rate is very good
Took around 3 months from my first application to final discharge of two loans I consolidated into one loan which is very long I feel. I think I asked the staff around eight times that I wanted both of my mortgages discharged as part of the settlement process and still ended up having to do it myself which was both annoying and confusing.
If your happy to wait through a long process the rate is worth it. Mine was not so urgent so ok in the end.

Transparency
4/5
Customer Service
3/5
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Sam
SamMetropolitan Adelaide, SA
  • 3 reviews
  • 4 likes

Hopeless

published

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.

Transparency
1/5
Customer Service
3/5
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Ben
BenMetropolitan Adelaide, SA
  • 3 reviews

Appalling customer service, 1 month of no reply despite 7 follow up emails/phonecalls

published
Transparency
3/5
Customer Service
1/5
Well Home Loans
Well HQ.Well Home Loans
Ben
Ben

Thank you for your response, I have been contacted by a manager offering an apology (and thankfully no excuses other than a promise to learn from it)

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MHW
MHW
  • 3 reviews
  • 1 like

best home loans we have found to date

published
Transparency
4/5
Customer Service
5/5
Well Home Loans
Well HQ.Well Home Loans
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Questions & Answers

Dee B.
Dee B.asked

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

1 answer
Well Home Loans
Well HQ.Well Home Loans

Hi Dee,

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

Kind regards,
Well Team

daz
dazasked

hi there no variable homeloans with your compnay

1 answer
Well Home Loans
Well HQ.Well Home Loans

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!

Cody
Codyasked

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?

3 answers
Well Home Loans
Well HQ.Well Home Loans

Hi Cody,
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.

Cody
Cody

Thank you, how much are the standard offset fees? We currently enjoy fee free offsets accounts.

Well Home Loans
Well HQ.Well Home Loans

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!

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