These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Key takeaways
WLTH is an Australian financial technology company that provides Australians with financial products, like home loans.
WLTH is partnered with environmental organisation Parley for the Oceans. Not only does it assist with cleanups but it offers cards made from recovered and recycled plastics.
Borrowers can access WLTH's home loans directly or through finance brokers.
We currently don't have that product, but here are others to consider:
How we picked these
WLTH home loans features
Loan purpose: Solutions for buying, refinancing, investing and building.
Offset account: You can maximise your savings with a 100% offset account attached to the loan.
No application fee: There's no upfront cost to apply for your home loan.
Loan-to-value ratio: You can borrow with a 10% deposit.
Fast application: WLTH's online 5-step application process can be completed within 15 minutes.
Social responsibility: WLTH has partnered with Parley for the Ocean. For every home loan that's settled WLTH will help the organisation clean 50m2 of beach or coastline in Australia and around the world. .
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with WLTH you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
All home loans really depend on your own circumstances. Like how much deposit you have, what features you're interested in and what your purpose of the loan is. So while WLTH would be great for some borrowers, it might not work so well for others.
The great thing about WLTH is that it offers 90% LVR loans and a speedy online application process.
To get a good idea of how WLTH might compare for your needs, you should compare all home loans across the market.
Any lender, whether they're a bank or a non-bank, large or small, is tightly regulated. WLTH is still responsible under the Consumer Credit Code, which governs all credit transactions in Australia. They're also responsible under the Australian Securities and Investments Commission (ASIC).
And besides, they're the ones lending you money.
A bank holds a banking licence, while a non-bank does not. This just means that banks are able to hold your money in products like bank accounts or savings accounts. Non-banks typically focus on lending money instead.
Some non-banks might charge higher interest rates than standard banks, but they can typically service more borrowers. Non-banks have more of an appetite for customers outside of APRA's lending guidelines. For example, while banks will assess a borrower's ability to pay the loan if the rate was 3% higher, non-banks are more likely to look at lower serviceability buffers.
Rebecca Pike is Finder’s money editor, with over 7 years of experience in mortgages and personal finance. A frequent TV and radio commentator, she frequently appears on Sunrise and 7News, Today and 9News, as well as Sky News, Channel 10 and across radio and print. Rebecca previously served as Editor of Mortgage Professional Australia. She has a Master’s degree in Journalism as well as ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, which comply with ASIC guidelines.
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