Scott Spencer is a mortgage broker and the founder and CEO of Well Money. He has spent more than 30 years in Australian home lending, across credit, underwriting, technology, distribution and executive leadership.
He works directly with clients under Well Money’s own Australian Credit Licence, arranging finance across a panel of bank and non-bank lenders. It is unusual for someone who has built lending platforms and run credit teams to also sit across the table from borrowers. It means clients get someone who knows how lenders assess a file from the inside.
Career
Scott began his career in 1995 at Interstar Securities, working hands on across credit assessment, underwriting, loan processing, settlements, customer service and arrears management. As a Business Development Manager he supported and trained Interstar’s top originators, strengthening national distribution and lifting lending quality.
During that period he played an instrumental role in building the first automated underwriting and decisioning engine used within the group, along with the industry’s earliest real time integrations with mortgage insurers and credit bureaus. These improved assessment accuracy, speed and compliance, and laid the groundwork for digitised lending workflows in Australia.
He went on to develop the first online CRM platform built for the broker market. It included credit and compliance tools that are echoed in many platforms used today, and it let brokers submit home loans electronically to both bank and non-bank lenders. That work led to involvement in professional development programs for lenders, aggregators and industry bodies, particularly around regulatory compliance and technology driven efficiency.
Scott has held senior executive roles including Co-CEO and CEO positions within Interstar, Stargate and the Flexstar Group.
Qualifications and memberships
- Bachelor of Commerce (Accounting, Finance and Commercial Law), Deakin University
- Diploma of Finance and Mortgage Broking Management
- Certificate IV in Finance and Mortgage Broking
- Australian Securitisation Forum trust management certificates
- Member, Mortgage and Finance Association of Australia (MFAA)
Well Money
Scott founded Well Money in 2017. The business built its name as a national non-bank lender offering transparent, technology enabled home loans, and that lending operation continues today as a mortgage manager. Broking is the main focus now.
As a lender, Well Money was recognised by RateCity, Canstar, Mozo, Finder and Money Magazine for value, innovation and service, collecting more than 50 awards, and wrote more than half a billion dollars in residential mortgages. The business has since expanded into lending niches including self-employed, specialist and debt consolidation lending.
What Scott writes about
Scott writes the guides published on WellHub. His usual subjects are home loans and how lenders actually assess them, refinancing, debt consolidation, investment property lending, self-employed and specialist lending, and the non-bank side of the market.
Media
Scott is a regular contributor to national news outlets, where he comments on property and finance. His insights cover interest rates, borrower trends and the property market.