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Well Home Loans Well Balanced

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan between $200,000 and $2,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $200,000 and $2,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $200,000 $2,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $200,000 $2,000,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $200,000 $2,000,000

Rate
1.99% p.a.
Comparison Rate
2.02% p.a.
Service fee
$0.00
Upfront fee
$785
Go to site
Rate
2.52% p.a.
Comparison Rate
2.55% p.a.
Service fee
$0.00
Upfront fee
$785
Go to site
Rate
2.99% p.a.
Comparison Rate
3.05% p.a.
Service fee
$0.00
Upfront fee
$785
Rate
2.32% p.a.
Comparison Rate
2.38% p.a.
Service fee
$0.00
Upfront fee
$785
Go to site
Rate
2.87% p.a.
Comparison Rate
2.90% p.a.
Service fee
$0.00
Upfront fee
$785
Go to site
Rate
2.49% p.a.
Comparison Rate
2.55% p.a.
Service fee
$0.00
Upfront fee
$785

Mozo editorial review Well Home Loans Well Balanced - last updated: 31 July 2021

5 / 5
binocular icon
What's hot
  • Five 2021 Mozo Experts Choice Awards
  • 1.99% interest rate (2.02% comparison rate*)
  • Free extra repayments and redraws allowed
What's not
  • Upfront fees
Mozo snapshot

The Well Home Loans Well Balanced home loan has a bunch of different rate tiers to help you find the one that suits your needs. Interest rates start as low as 1.99% (2.02% comparison rate*) for owner occupier P&I loans with a loan-to-value ratio of 80% or less. The loan comes with handy features such as free extra repayments, redraw and the option for a split account. There are a few fees to consider though, including a $250 application fee, $150 settlement fee, a $385 legal fee and $300 discharge fee.

Need more convincing? The Well Balances Home Loan took out a seriously impressive FIVE 2021 Mozo Experts Choice Awards - for best Investor Home Loan, Low Cost Home Loan, Offset Home Loan, First Buyer Home Loan and Split Home Loan. 

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Key features

Whether you’re an investor or owner occupier, Well Home Loans Well Balanced home loan offers interest only and principal and interest loans with a variety of features.

Off the bat we need to address the interest rate and what factors affect it: what type of borrower you are, which interest type you get and what LVR you are looking for will change the interest rate on offer to you.

On the whole, an owner occupier will get a better rate than an investor. Same with a borrower looking for a loan worth 80% or less of the home’s value compared to someone getting a loan with an 80%-95% LVR.

The option to make free extra repayments may be a handy way to save some money on your interest and the free redraw facility with only a $1 minimum withdrawal makes getting access to your extra repayments if you need them again no sweat.

A slightly different method for saving on interest that you might want to take advantage of is an offset account. There’s one on offer with the Well Home Loans Well Balanced loan, however this offset account will cost you $10 a month to have.

As far as minimum and maximum loan amounts go, Well Home Loans Well Balanced home loan offers amounts starting from $200,000 to a fairly high $2,000,000 maximum loan amount; giving customers the opportunity to find a loan to suit them.

Lastly, the home loan comes with the option for a split account, which lets you have the interest rate be partly variable and partly fixed.

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Who is it good for

As there are a wide range of options available for this loan, all with a bunch of good features and competitive interest rates, most customers will find that the Well Home Loans Well Balanced home loan could offer a deal to suit them.

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Any catches

While an offset account can be a great tool for saving on interest, the $10 monthly fee will mean you want to make sure you use it correctly, so you can get the savings to justify paying the fee. Speaking of fees, you may also need to factor in a $250 application fee, $385 legal fee and $150 settlement fee into your budget. 

Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney. He is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 21 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

1.99% p.a.

n/a

n/a

n/a

2.02% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$250.00

$385.00

$0.00

$150.00

n/a

$0.00

$300.00

Other financial bits

$200,000

$2,000,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$1.00

yes

Optional - $10 per month

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.52% p.a.

n/a

n/a

n/a

2.55% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$250.00

$385.00

$0.00

$150.00

n/a

$0.00

$300.00

Other financial bits

$200,000

$2,000,000

80.00%

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$1.00

yes

Optional - $10 per month

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.99% p.a.

n/a

n/a

n/a

3.05% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$250.00

$385.00

$0.00

$150.00

n/a

$0.00

$300.00

Other financial bits

$200,000

$2,000,000

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$1.00

yes

Optional - $10 per month

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.32% p.a.

n/a

n/a

n/a

2.38% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$250.00

$385.00

$0.00

$150.00

n/a

$0.00

$300.00

Other financial bits

$200,000

$2,000,000

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$1.00

yes

Optional - $10 per month

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.87% p.a.

n/a

n/a

n/a

2.90% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$250.00

$385.00

$0.00

$150.00

n/a

$0.00

$300.00

Other financial bits

$200,000

$2,000,000

80.00%

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$1.00

yes

Optional - $10 per month

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.49% p.a.

n/a

n/a

n/a

2.55% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$250.00

$385.00

$0.00

$150.00

n/a

$0.00

$300.00

Other financial bits

$200,000

$2,000,000

none

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$1.00

yes

Optional - $10 per month

none

none

none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

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Latest review of Well Home Loans Well Balanced Home Loan

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.