Brisbane-based WLTH (pronounced “wealth”) is a digital non-bank lender and payments provider that aims to provide Australians with a smarter, sustainability-focused solution to financial products.

Brothers Brodie and Drew Haupt founded WLTH in 2018, with a vision of creating a solution to address cash flow issues in the property, personal, and small business loans space. WLTH officially launched in early 2021 and was able to gain footing by offering home loans to customers across Australia.

“To do this, 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,” Brodie Haupt said.

WLTH separates itself from other players by bringing its advocacy in its businesses — its commitment to advocating for ocean sustainability and its partnership with Parley for the Oceans.

“We believe it is another aspect of WLTH that really sets us apart from incumbents in the industry — admittedly, the conservation of our oceans was not initially a primary purpose of WLTH,” Mr Haupt said.

“But, after further research into what’s happening around the world, it has definitely become a focal point and driving force for our business.”

WLTH’s home loan products

WLTH offers home loans across four key product lines:

  • Owner-occupied loans

  • Investment loans

  • Interest-only investment loans

  • Investment SMSF loans

These product lines come with variable interest rates and are available for new borrowers and refinancers.

Features of WLTH home loans

WLTH sees its product offerings as a “refresh” to the financial services industry.

“Our highly competitive home loan rates and seamless digital experience is what sets us apart from the rest — WLTH’s mission has always been to refresh the financial services industry in Australia whilst maintaining a strong focus on positive environmental change,” Mr Haupt said.

These are some of the features of WLTH home loans:

Simplified application process

WLTH employs the Lending Loop Platform, which allows for applications to go through a five-step process that includes getting information from the borrower about the purpose of the loan, their personal information, income, other assets, and expenses. Applications can be done online and just takes 15 minutes.

Faster approval times

Its AI and Decision engine allow WLTH to approve home loan applications within days.

Low fees, no application fees

Fees across the product offerings are low, often with zero application and ongoing fees.

High maximum LVRs

The maximum owner-occupiers can borrow is 95% of the property’s value, for investors paying P&I it’s 90%, while for interest-only it’s 80%, and for SMSF loans it’s 80%.

E-offset account

The electronic offset/redraw account can be used against the home loan, reducing the amount of interest ultimately paid on variable home loans.

WLTH is currently working on other features and products, which include feature-laden transactional accounts, a powerful payments application, a high-value loyalty system, and an innovative fintech pipeline for Australian consumers and businesses.

Sustainability contribution

WLTH provides its clients with an opportunity to directly impact our oceans and drive a more sustainable world — for every settled loan, the lender commits to helping clean up 50 square metres worth of Australian oceans and coastline.

Client-centric service

At WLTH, every client is given special attention by lending specialists. WLTH believes client support is important and our top priority.

How to apply for a WLTH home loan

Interested borrowers can undertake the application online. The process involves the following:

  1. Borrowers must supply basic info including the loan purpose (purchase or refinance).

  2. They must provide more personal details.

  3. Borrowers can link their accounts as proof of income.

  4. Documentary proof about other assets (property, shares, and others) can be uploaded.

  5. Expenses breakdown must be supplied.

  6. Upload the necessary documents such as payslips and bank statements to speed up the approval

  7. Wait for approval.