Compare WLTH Home Loans & Interest Rates
WLTH, pronounced 'wealth', offers a range of home loans with a huge focus on streamlined online applications, digital features and sustainability initiatives.
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- WLTH is a non-bank lender founded by two Brisbane-based brothers.
- It offers home loans for owner occupiers, investors and SMSF borrowers.
- Loans can be used for the purchase or refinance of properties.
- Through its partnership with Parley for the Oceans, WLTH pledges to clean up 50 sqm of beaches and coastline for every loan written.
WLTH is a non-bank lender that entered the crowded Australian home loan scene in 2021.
Founded in Brisbane by brothers Brodie and Drew Haupt, WLTH offers owner occupier, investor and SMSF home loans. In fact it's among a small group of Australian lenders that offer SMSF loans for commercial properties.
Is WLTH a bank?
No. WLTH is a non-bank lender, meaning it offers home loans without operating as an authorised deposit-taking institution (ADI). Non-bank lenders provide loans with funding often sourced from wholesale markets rather than customer deposits.
See also: What is an ADI?
It has a vision of changing the lending and payments experience through technology while differentiating itself through sustainability initiatives and specialist lending solutions.
"The idea for WLTH originated at Noosa Surf Club over a bucket of prawns and some beers," co-founder Drew Haupt told Savings.com.au.
After years of working across finance, mortgage broking and fintech businesses, the brothers "came back to the drawing board" to create a product that would solve cash flow issues in property, personal and small business loans.
How did WLTH start?
We underwent years of planning, branding and software development using AI technology to create our products and services. Along with this, we developed a comprehensive roadmap of future releases to reduce time and stress attributed to finances.
Off the success of our official market launch early in 2021, we have been fortunate enough to establish ourselves in the market by successfully offering business and home loans to customers around Australia, bringing ourselves one step closer to this goal.
What home loans does WLTH offer?
WLTH offers a range of home loans designed for owner occupiers, property investors and self-managed super fund (SMSF) borrowers, accessible through a fully digital application process.
Owner Occupied Home Loan
This is WLTH's home loan for borrowers purchasing or refinancing a property they intend to live in. Key features include:
- $0 application fee
- E-offset account
- Up to 95% LVR
- Principal & interest repayment
Investment Home Loans (P&I and IO)
WLTH's investment home loans are available for investors purchasing or refinancing residential investment properties. Eligible borrowers can choose between the principal and interest (P&I) and interest-only (IO) repayment options. Key features include:
- $0 application fee
- E-offset account
- Up to 95% LVR for P&I
- Up to 90% LVR for IO
SMSF Investment Home Loan
Borrowers looking to purchase or refinance properties through their self-managed superannuation fund may be able to access WLTH's SMSF Investment loan. Key features include:
- Optional e-offset account
- Up to 90% LVR
- Commercial security available
Compare WLTH home loan interest rates
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.29% p.a. | 6.40% p.a. | $3,092 | Principal & Interest | Variable | $0 | $887 | 70% | |||||||||||||
6.39% p.a. | 6.50% p.a. | $3,124 | Principal & Interest | Variable | $0 | $887 | 80% | |||||||||||||
6.59% p.a. | 7.11% p.a. | $3,190 | Principal & Interest | Variable | $395 | $590 | 70% | |||||||||||||
6.69% p.a. | 7.20% p.a. | $3,223 | Principal & Interest | Variable | $395 | $590 | 80% | |||||||||||||
7.09% p.a. | – | $2,954 | Interest-only | Variable | $395 | $1,185 | 60% | |||||||||||||
7.09% p.a. | – | $3,357 | Principal & Interest | Variable | $395 | $1,185 | 60% | |||||||||||||
7.19% p.a. | 7.70% p.a. | $3,391 | Principal & Interest | Variable | $395 | $590 | 90% | |||||||||||||
7.19% p.a. | – | $2,996 | Interest-only | Variable | $395 | $1,955 | 70% | |||||||||||||
7.19% p.a. | – | $3,391 | Principal & Interest | Variable | $395 | $1,185 | 70% | |||||||||||||
7.29% p.a. | 6.59% p.a. | $3,424 | Principal & Interest | Fixed | $0 | $1,327 | 80% |
WLTH home loan features
Lending Loop
One of WLTH's standout features is its fully digital application platform called Lending Loop. Customers can sign up and fill out an application within 15 minutes, all without visiting a physical branch.
Personalised lending support
Despite operating digitally, WLTH emphasises access to dedicated lending specialists who can assist borrowers throughout the application and settlement process.
E-offset account
WLTH's e-offset or electronic offset-redraw functionality allows eligible borrowers to access additional funds they have paid into their home loan.
Additional repayments
Borrowers can make extra repayments on eligible home loans to help them pay off their mortgage sooner and potentially reduce interest costs over the life of the loan.
Sustainability initiative
Through its partnership with global eco-organisation Parley for the Oceans, WLTH has committed to clean up 50 square metres of beaches and coastline for every settled loan.
Why choose a home loan with WLTH?
WLTH's mission has always been to refresh the financial services industry in Australia whilst maintaining a strong focus on positive environmental change.
One prominent feature differentiating our home loans is that it gives clients a chance to directly impact our oceans and drive a more sustainable world.
In addition, our lending specialists give special attention to every client. Loyalty does not necessarily count for much at bigger banks due to the sheer number of clients involved. At WLTH, we believe client support is important and is our top priority.
Pros of WLTH home loans
- Fully digital application process
- Offset account and redraw features
- SMSF lending available
- Personalised support
- Environmental initiative
Cons of WLTH home loans
- No branch network
- Smaller product range than major banks
How to apply for a WLTH home loan
To apply for a home loan with WLTH, would-be borrowers generally need to meet the following eligibility criteria:
- Be at least 18 years old
- Be an Australian citizen or permanent resident
- Have the ability to service the loan repayments
- Meet credit assessment criteria and have an acceptable credit history
- Have a compliant self-managed super fund structure (for SMSF borrowers*)
- Show evidence of the SMSF's ability to meet repayments (for SMSF borrowers*)
*Additional documentation may be required for SMSF borrowers.
If you're eligible for a WLTH home loan, complete an application online through its Lending Loop platform. WLTH says most applications can be completed in as little as 15 minutes.
Documents needed
- Valid ID (e.g. driver's licence, passport, Medicare card)
- Income details (e.g. recent payslips)
- Details of savings and assets (e.g. bank statements)
- Details of other loans and liabilities
- List of regular expenses
- Details of the property
WLTH has streamlined its home loan application in a five-step process:
- Loan – Select your loan and input basic information
- About you – Provide WLTH more information about you
- Income – Link your bank accounts and evidence of income
- Assets – Identify other assets such as shares, property, etc.
- Expenses – List a breakdown of your expenses
Savings.com.au's two cents
If you're the type of borrower who values the convenience of being able to apply for a home loan online through an easy to follow process, you may find WLTH's digital application platform worthwhile enough to consider the non-bank lender for your lending needs.
That said, if you prefer a more traditional approach, where there's a branch you could go to, and seek an extensive product choice, larger lenders may offer more flexibility.
But WLTH is not just all about the techy stuff. With its environmental initiative, the non-bank allows you to put your money where your values are.
At the end of the day, carefully evaluate and seek professional advice to determine whether the lender and its products suit your circumstances and financial goals.