How blockchain could change the way you buy your next house
When you buy a house, you pay a solicitor to verify the property’s ownership and check for outstanding loans or other title restrictions. But what if this information was available to you instantly?
Volt bank to build mortgage platform with IRESS
Digital bank Volt has revealed a new partnership with veteran fintech vendor IRESS to build its customer-facing mortgage system.
86 400 secures national distribution with Vow Financial, readies home loan offering
HashChing outlines new funding plans
A home run for home buyers: Tic:Toc launches new low deposit home loans and $1000 cashback
Award-winning fintech company, Tic:Toc, today announced the launch of its low deposit home loans, offering low-cost digital home loans to customers with as little as a 10% deposit. The fintech has simultaneously launched a $1000 cashback offer to all customers who take out a Tic:Toc home loan. Tic:Toc’s new low deposit option, allows customers with a low deposit or less equity in their home, to access the benefits of Tic:Toc’s fully digital home loan assessment and approval platform. By covering the cost of lenders’ mortgage insurance (LMI) – delivered by leading LMI provider and Tic:Toc shareholder, Genworth Financial Mortgage Insurance Pty Ltd – customers with a 10-20% deposit can buy […]
RBA warns the banks ‘don’t be stingy’
The Reserve Bank of Australia has warned banks to loosen up their lending practices when approving home loan applications. Following the Royal Commission banks have become cautious and their frontline lending staff are knocking back home loan applications which usually would get approved. Speaking at a function in Perth, Reserve Bank assistant governor Michelle Bullock said, “we are out there telling banks, and asking banks to tell their frontline staff, don’t be too stingy here.” Loans.com.au CFO James Austin tells Ross Greenwood staff need to be more consistent when granting credit. “It’s a lack of consistency in a credit application of the policy, it’s not the policy itself. To read […]
Borrowers switch to P2P lending for home loans
The irresponsible lending practices uncovered by the year-long inquiry by the Royal Commission on big banks seemed to have pushed borrowers to alternative lending providers, the CEO of peer-to-peer loan provider SocietyOne said. SocietyOne’s Mark Jones told Yahoo Finance that peer-to-peer loans have already gained traction in the industry. In fact, figures from the Australian Bureau of Statistics show that personal loans’ share of the lending market doubled from 14% to 28% between 2010 and 2018. Meanwhile, data from CommSec reveal that borrowing from non-bank institutions grew 10.3% in August 2018. “The reality is people trust the big four banks as secure, and they actually trust their local branch manager. […]
Virgin launches new digital portal for mortgage applications
The lender has announced the launch of a new digital platform designed to improve the efficiency of the home loan application process for mortgage brokers. Virgin Money Australia has revealed that it plans to issue the majority of its home loan applications via its new Digital Acceptance Document Portal. The online delivery and signing platform is designed to provide customers with the opportunity to electronically receive and accept their Virgin Money Home Loans documents. The lender added that the platform, which can be accessed via multiple devices, would also allow brokers to view the progress of their customer’s application process. To read more, please click on the link below…. Source: […]
