Well Money logo
Mini meca 2022

Well Money 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
2.60% p.a.
Comparison Rate
2.63% p.a.
Service fee
$0.00
Upfront fee
$785
Rate
3.27% p.a.
Comparison Rate
3.33% p.a.
Service fee
$0.00
Upfront fee
$785
Rate
3.79% p.a.
Comparison Rate
3.85% p.a.
Service fee
$0.00
Upfront fee
$785
Rate
2.92% p.a.
Comparison Rate
2.98% p.a.
Service fee
$0.00
Upfront fee
$785
Rate
3.62% p.a.
Comparison Rate
3.68% p.a.
Service fee
$0.00
Upfront fee
$785
Rate
3.24% p.a.
Comparison Rate
3.30% p.a.
Service fee
$0.00
Upfront fee
$785

Mozo editorial review Well Money Well Balanced - last updated: 23 June 2022

5 / 5
binocular icon
What's hot
  • Four 2022 Mozo Experts Choice Awards
  • Variable rates from 2.60% p.a. (2.63% p.a.comparison rate*)
  • Free extra repayments and redraws allowed
  • Optional offset account ($10/month)
What's not
  • Upfront fees
Mozo snapshot

With variable interest rates starting from just 2.60% p.a. (2.63% p.a. comparison rate*) and handy features such as free extra repayments, a redraw facility and even an optional offset account, the Well Balanced loan from Well Money has a lot going for it. Need more convincing? The loan took out a seriously impressive four 2022 Mozo Experts Choice Home Loan Awards for best Investor Home Loan, Low Cost Home Loan, Offset Home Loan and Split Home Loan. 

key icon
Key features

Whether you’re an investor or owner occupier, Well Money's Well Balanced loan offers interest only and principal and interest loans. The variable rates on offer will depend on your loan-to-value ratio (LVR) and borrower type, but they currently go as low as 2.60% p.a. (2.63% p.a. comparison rate*) for owner occupiers with an LVR under 80%.

In terms of features, borrowers will have the option of making free extra repayments towards their loan balance and to redraw any of those extra repayments down the track with the use of the redraw facility. They can also take advantage of the optional offset account (though this will come at a cost of $10/month) or the split account feature which allows mortgage holders to split their rate into variable and fixed portions.

snapshot
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 Money Well Balanced home loan could offer a deal to suit them.

question icon
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 worked as a financial journalist at Mozo from 2018 - March 2022. He specialised in fintech, property and business banking and kept 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 2 July 2022. 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

2.60% p.a.

n/a

n/a

n/a

2.63% 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 2 July 2022. 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

3.27% p.a.

n/a

n/a

n/a

3.33% 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 2 July 2022. 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

3.79% p.a.

n/a

n/a

n/a

3.85% 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 2 July 2022. 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

2.92% p.a.

n/a

n/a

n/a

2.98% 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 2 July 2022. 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

3.62% p.a.

n/a

n/a

n/a

3.68% 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 2 July 2022. 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

3.24% p.a.

n/a

n/a

n/a

3.30% 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

How are Well Money home loans rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust

Latest review of Well Money Well Balanced Home Loan

About Well Money

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.