86 400 partners with Uno Home Loans to deliver a digital end-to-end home loan solution
uno Home Loans, Australia’s first Active Home Loan Manager, today announced 86 400 has joined its panel of lenders.
Both uno and 86 400 are challengers in the digital mortgage space; driving competition, choice and delivering solutions to meet and improve the lives of Australian homeowners.
As Australia’s first smartbank, 86 400 becomes the first neobank lender on uno’s panel and will give customers access to a digital home loan with competitive rates, next to no paperwork and a time to approval up to six times faster than a Big Four bank.
This partnership comes at a critical juncture, as application turnaround times for some non-digital home loan lenders continue to lag.
With 86 400’s ‘Own’ home loan product, once an application has been lodged through a uno broker, customers can finalise their application straight from their smartphone. The 86 400 experience dramatically simplifies the application process; eliminating the guesswork and ending the hassle of trawling through paperwork by automatically pulling the required information – such as income and expenses – direct from customer accounts.
uno Home Loans CEO, Anthony Justice says, “86 400 has created a unique lender model which seeks to transform how home loans are done by giving customers a superior digital experience – a true alignment with uno’s Active Home Loan Management proposition.”
Justice continues, “Our number one goal at uno is to make the home loan process easier and more transparent to help our customers start on a great rate and stay on a great rate. We know our customers want to do more online, so being able to bring on a digital lender to complement our digital broking offering is a critical step in our mission to be the go-to place for a fast and competitive online home loan.” added Justice.
86 400’s home loan offering, which is available for purchasers, refinancers, owner-occupiers and investors, is a fully-featured loan, with fixed and variable rate options, both with redraw. The variable rate loan also has the ability to link to multiple offset accounts (both 86 400 Pay and Save accounts).
Last week, 86 400 introduced tiered variable rates for borrowers, giving customers with higher deposits access to lower rates. Variable rates start from 2.59% p.a. (owner-occupied, principal and interest 60% LVR and below) with comparison1 2.87% p.a.
Robert Bell, 86 400 CEO, said, “uno’s customer-first approach to doing business aligns really nicely with our own – helping Australians take control of their money. Our smarter approach to home loans not only includes the great rates you’d expect, but also a streamlined digital application process and a super-fast time to approval, meaning borrowers can own their home sooner – without sifting through piles of paperwork.”
With lenders like 86 400 on uno’s panel, combined with the power of smart technology and a team of expert brokers – uno is helping Australians start on a great rate and stay on a great rate, for the life of their loan.
1 Comparison rates are calculated on a loan amount of $150,000 for a term of 25 years. These rates are for secured lending only. Comparison rates for variable interest only loans are based on an initial 5 year interest only period. Comparison rates for fixed interest only loans are based on an initial interest only period equal in length to the fixed period. Where the loan reverts to a variable rate after the fixed period, the comparison rate is based on an LVR of equal to or less than 60%.
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Lending criteria, fees, terms and conditions apply. All applications for credit are subject to 86 400 credit approval criteria.
