86 400 partners with FAST Group – almost 90% of Aussie brokers now have access to its home loans
Australia’s first smartbank, 86 400, has today announced a new strategic partnership with aggregator FAST Group, to bolster its broker network and help even more Australians secure a smarter home loan, faster.
The addition of 86 400 to FAST’s lender panel means the aggregator’s almost 1200 brokers can now provide their customers with one of the fastest and most streamlined home loan application processes in the country.
FAST CEO, Brendan Wright said the aggregator was continuing to expand its suite of products and services to propel its thriving broker network, providing an unmatched experience for a broad cross-section of clients.
Wright said, “FAST’s partnerships with lenders are strategically aligned to our goal of providing our brokers with the best products and resources to service their customers. Welcoming 86 400 to our lender panel supports this goal, enabling our brokers to provide their customers with more choice and flexibility when it comes to applying for a mortgage digitally and beginning their home ownership journeys.”
George Srbinovski, Head of Broker Distribution at 86 400 said, “Partnering with FAST means we’ll be able to help even more brokers and their customers secure a smarter home loan. We’ve experienced incredible momentum in the mortgage space this year and with FAST on board, we look forward to building on this further. With next to no paperwork, brokers and their customers are always so surprised by the speed and absolute ease of our digital home loan application process.”
This month the smartbank has also expanded its business development team, making two new hires, as the bank continues to experience strong momentum in the mortgage space. The two new BDM’s come from banking backgrounds, and cover NSW and VIC, with additional hiring underway. Further support is provided through our internal broker support team.
86 400 launched its home loan offering with the Own home loan in November 2019, providing the first only and only digital home loan for brokers, with competitive rates and fast turnaround times. Its Neat home loan product was launched one year later, offering Australians an alternative mix of features and rates.
In more good news for brokers, 86 400 has introduced a new 85% Loan to Value Ratio (LVR) tier for Owner Occupied, Principal and Interest home loans, and removed the need to pay Lenders Mortgage Insurance (LMI) with a 15% deposit/equity, knocking thousands off the potential cost of buying or refinancing a property.
To date, the smartbank has won numerous industry awards for its Own and Neat home loan products, with $795m in home loans settled and awaiting settlement.
To find out more about 86 400 home loans and rates, please visit: www.86400.com.au/homeloans