• What is a pre-approval?

  Pre-approval At Well, we do offer the ability to get yourself pre-approved for a home loan. There are different types though, so let's go into the different types of pre-approvals below. Indicative Pre-approval An indicative pre-approval (or indicative approval) is a type of approval given to customers in order to make them feel a little more secure in what their home loan scenario entails. The name lSome readers

• How do I refer a friend or family member?

  If you’re an existing Well customer, you can refer your friend or family member using your referral code. Your friend or family member gets to save when they’re applying with a little boost by using your code, and access to one of the lowest rate home loans in Australia too. When their loan settles on their home loan, you’ll get rewarded too! It’s our way of saying thanks. Your refer-a-friend referral code was issued to you via email and sms when your loan settled. If you're unable to locateFew readers

• Do I need to get building insurance?

  Yes. It is a condition of your mortgage that you have a general insurance policy which names the lender as an insured party. The general insurance policy should insure the property for fire, storm and other hazards that may impair the value of the property. The insurance will need to be for full replacement cost and with an insurer approved by the lender. The premium for the first year must be paid at or prior to settlement. Who do I put on the insurance policy? You will need to make sure tFew readers

• What is the interest rate on my home loan?

  Working out the interest rate on your home loan is actually pretty important. Unfortunately there’s a lot of people with a mortgage that don’t even know what interest rate actually applies to them! By not being properly informed, you could be missing out on some great savings. Knowing your rate let’s you spot a good rate when you see it. How is the interest rate calculated? To find out how your rate is calculated, you will need to check your home loan contract. It’s in there! Normally thiFew readers

• How long will my pre-approval last for?

  A pre-approval at Well Home Loans will last for 90 days. You can get started with your pre-approval using this link hereFew readers