Well Money Equity Plus

The Equity Plus loan from Well Money has a low rate and a 100% offset account, but you need a 40% deposit.

Looking for a low variable rate loan with a 100% offset account? If you have a big enough deposit, the Equity Plus loan could be for you.

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Review by

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

This is a great loan for refinancers because the interest rate is low, there's an offset account and you need to have either a large deposit or a big chunk of your mortgage already paid off. If you don't have a 40% deposit saved, you'd better look elsewhere.

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About this loan

What are the features and benefits of the Well Money fixed rate home loan?

  • Deposit size. With this loan you can only borrow up to 60% of your property's value.
  • Loan amount. The Equity Plus Home Loan lets you borrow up to $2,000,000, with a minimum loan size of $200,000. This should cover most Australian buyers.
  • Offset account. The addition of a 100% offset account lets you save money while minimising your interest charges.

How to apply

To start an application or get more information, hit the green button and follow the steps to speak to a mortgage specialist from Well Money.

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    Default Gravatar
    December 6, 2022

    My House worth 400,000
    How much equity I can borrow?


      December 21, 2022

      Hi Gerlie,

      We would need a little bit more information to answer this. Typically you can borrow up to 80% of the equity you have in your home. The amount of equity you have depends on how much of your home loan you have paid off.

      For more information on home equity please see this Finder page.


    Default Gravatar
    September 2, 2021

    To whom it may concern,

    Who is your backer or under writer?
    What are ALL the fees connected with a offset or redraw account. And what rate?
    Fees for early completion?

    Thank you for your time.

      September 10, 2021

      Hi Anne,

      We showcase a number of different lenders on our site, but this is not the company website for Well Home Loans. We can share that the Well Home Loans Equity Plus (Owner Occupied) has an interest rate of 1.87% p.a. and an application fee of $250. The discharge fee for this home loan is $300.

      You can check out Well Home Loans’ About us page and their Privacy Policy to learn more about the company. For specific details such as their underwriters, it would be best that you reach out to them directly via phone at 1300 899 724 or via email at hello@wellhomeloans.com.au.

      I hope this helps!


    Default Gravatar
    August 2, 2021


      August 5, 2021

      Hi Paul,

      Yes, Well’s discharge fee for this home loan is $300. You can also check your loan contract for other home loan product types – you’ll find the discharge fee under the Fee section.


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