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The Well Restore
home loan

Sometimes life can be a little more of a challenge.
This product is designed for those who need that extra help.

Interest rates start from

Interest Rate
5.67% p.a.*
Comparison Rate
5.98% p.a.*

Life happens. We get it.

No one plans to have bad credit. Sometimes, life just happens that way. That's why we can help when others don't want to know you.

Why your scenario might fit?

Our Restore product can help if you find yourself in a situation of credit impairment.

  • Past defaults (both paid and unpaid)
  • Unlimited defaults, judgements and writs registered more than 12 months ago can be considered
  • Unlimited number of debts can be consolidated - assuming you'll be better off of course
  • Late payments on credit/mortgages
  • Part IX or X debt agreements
  • Discharged bankrupt

Who could use the help?

The Well Home Loans Restore product is designed to help those that find themselves in a situation with a impaired credit report, more commonly known as “Bad Credit”. If you know you’ve got bad credit, this could be the right fit for you.

  • Life events - We've got the help you need if an event has caused you to get a credit default or two on your file.
  • Mortgage arrears - You might have just gotten yourself overcommitted financially and are now stuck in arrears on your existing mortgage.
  • Refused credit from another lender? - If you've built up some equity in your house and have a tax debt coming up, the Restore product can provide cash out for just this purpose (amongst others too!)

Bad credit can stop you getting a loan from other lenders. We can help when others don't want to.

What does “from” really mean?

You might have just seen at the top of this page our headline rates and that they start from a certain rate. As part of our transparency of information to you, here you can find out what that really means.

Interest rate start from

5.67% p.a.
Interest Rate
5.98% p.a.
Comparison Rate

But can go up to

8.19% p.a.
Interest Rate
8.51% p.a.
Comparison Rate
Apply for this loan now »

The comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Lending criteria, fees and conditions apply. Rates, fees and conditions are indicative, available for new loans only and subject to change without notice.

Why the big difference?

For our range of specialist home loan products, the interest rate that applies to your situation is impacted by the overall LVR of the loan that you’re applying for. For a higher LVR loan, the interest rate is higher to reflect a higher level of risk that might be involved. Other things that might impact your interest rate include whether you are seeking an interest only loan, which is typically higher than a principal and interest loan.

Keep on reading and use our handy tools to see if this is the right product for you.

And what about fees and charges?

Now for the fees and charges bit. Every loan will attract some fees and we'll give you a full breakdown in a loan contract if you are approved and want to proceed. But for now, here's the lowdown.

Establishment Fee:

$995


Valuation Fee:

From $240, we'll let you know once we get a quote on your property.


Lender Protection Fee:

None - Mortgage Risk Fee applies instead (see below).


Monthly Administration Fee:

$15 per month per loan account (i.e. per split account).


Legal Fee:

From $440 plus disbursements - we'll let you know in the loan contract.


Discharge Fee:

$250 per loan.


Title Protection Fee:

$400 per loan.


Mortgage Risk Fee:

Up to 2.0% of the amount advanced (0.5% loading applies for amounts over $1million).

Is the Well Restore product right for me?

Determining if this product is right for you depends on a number of factors including your credit history, loan amount, property location and employment situation. Our scenario tools will help you to better understand your situation and which Well Home Loans product is most suitable.

If you're refinancing

Use our refinance scenario to determine the most suitable product & understand your switching costs.

If you're purchasing

Use our purchase scenario to understand your borrowing capacity and the most suitable product.

Convinced this is the right one?

If you're ready to jump in and start the process, you can do that easily right here!

Skip the marketing and apply now »

So you're a product specs kind of person?

Ok, so you've read through all the marketing above and while we think this is a great product, you just want to dig into the product a little deeper? That's cool, we get it. We always read the in depth specs before we jump in too.

Take a look at the product specs for this loan »

How we assess your situation

Most other lenders have rigid eligibility criteria, and if you don't fit their mold then you don't qualify for a loan. At Well, we've tailored home loans that can fit different situations.

What you earn

We look at what you earn over a different period of time than a traditional lender. This can suit those that show irregular income over shorter time frames.

What you owe

Using rough percentages isn't the best way to work out exactly what you owe to other people. We get the right information to help you see the bigger picture.

What you spend

Looking at what you actually spend rather than just relying on benchmarks means we know more about your situation. Who even has 2.3 kids anyway?

What's your history

No Credit Scoring! We look at each record on your credit report to get a proper picture of you and your credit history. We don't like to put a score on people's lives.

Our disclaimers and things you should know

We like to be as transparent as possible. So when we put little asterisks or marks next to things, there's definitely some things that you should know. We've got them all laid out right here for you!

* Comparison rate warning

The comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Lending criteria, fees and conditions apply. Rates, fees and conditions are indicative, available for new loans only and subject to change without notice.

* Interest rate warning

Interest rates current as at the following date: Sunday 21st, April 2019. Interest rates that are quoted are current at the date above. Interest rates are subject to change at any time without notice. The actual interest rate on your home loan will be quoted at the time of settlement along with the actual repayment amounts. Interest Rates may change between the time of your application and settlement of your loan due to market conditions. If you have paid a Rate Lock Fee, the rate provided will be listed on your letter of offer and will take effect upon acceptance and payment of the rate lock fee.

Discover the right solution for you

We're not a stuffy old bank. We're a modern online home loan provider.