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Well Home Loans Balanced Variable

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A low rate, high loan to value ratio loan with an optional offset account.

The Well Home Loans Balanced Variable offers a low variable rate, free online redraw and a high loan to value ratio (LVR). You can even add a 100% offset account for just $10 a month.

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Expert review

Richard Whitten

Review by


Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.

Expert review

The Well Home Loans Balanced Variable is available only to owner-occupiers or investors to purchase a home or to refinance an existing home loan.

About this loan

What are the features and benefits of the Well Home Loans Balanced Variable?

  • Loan amount and LVR. The Well Home Loans Balanced Variable has a low minimum borrowing amount of $200,000 and a maximum borrowing amount of $2,000,000. You can borrow up to 90% of the value of the property you're buying. However, borrowing more than 80% attracts a higher interest rate and you'll pay a lenders mortgage insurance (LMI) premium.
  • Free redraw. If you've paid extra on your home loan, you can withdraw the funds using the loan's free online redraw facility. There's no fee for making redraws and no minimum redraw amount.
  • Optional offset account. For only $10 a month, you can add a 100% offset account to your loan.

What fees and charges come with this loan?

  • Application fee: $250. The application fee for this loan varies for owner-occupiers and investors. Owner-occupiers will pay $250, while the fee for investors is $499.
  • Settlement fee: $0. This one-off fee covers the administrative costs associated with settlement day.
  • Legal fee: $385. This fee covers the legal costs associated with settling your home loan.

How to apply

If you've compared your options and believe the Well Home Loans Balanced Variable is suited to your needs, click the green button. You'll be taken to the Well Home Loans website, where you'll be guided through your home loan application.

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