TechLend offers one-hour bridging loan pre-approval

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TechLend, a specialist in non-bank bridging loans, is reducing its pre-approval times, allowing buyers to “bid with certainty”.

Specialist lender TechLend now offers homebuyers pre-approved one-hour bridging loans.

The non-bank lender uses its proprietary technology, which leverages real estate data and values ​​to deliver bridging loans quickly, to deliver conditional approvals in “record time.”

This move is “sure” to reduce much of the stress associated with buying a property.

TechLend chief executive Aaron Bassin said borrowers complete the five-minute online application and the lender’s technology performs an eligibility calculation for an “instant” conditional approval.

“You could literally apply for pre-approval for bridging financing on your way to a home inspection or auction and be able to bid with certainty once you get our green light,” he said. declared Mr. Bassin.

“Buying a home is stressful enough. Getting certainty about financing a bridging loan is now part of the process that consumers don’t have to worry about.

Mr. Bassin said TechLend’s products are aimed at a wide range of customers, from the self-employed to retirees looking to downsize.

“Our technology is constantly evolving and developing and using this we are committed to providing owners with innovative solutions to what is an outdated system,” he said.

According to TechLend, its product relieves downsizers and people who struggle to free up cash due to the “archaic” and “largely manual” systems used by big banks.

The specialist lender recently announced that it had reached $ 100 million in bridging loans after launching just a few months ago, demonstrating “unprecedented demand” for its products.

TechLend offers its clients interest-free, paperless bridging loans with pre-approval within the hour, allowing buyers to purchase a new home before selling their existing home.


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Lender

Rate type Gap Redraw Ongoing charges The initial costs LVR Lump sum reimbursement Additional refunds Pre-approval
Variable More details
LIMITED TIME OFFER

Smart Booster real estate loan at variable discount rate – 2 years (LVR
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  • For purchase and refinancing, minimum deposit of 20%
  • No ongoing or monthly fees, add compensation for 0.10%

Variable More details
100% FULL ACCOUNTNO APPLICATION FEES OR CURRENT FEES

Low rate home loan – Premium (principal and interest) (owner occupied) (LVR
  • No upfront or ongoing costs
  • 100% clearing account
  • Additional refunds + reprint services

Variable More details
REFINANCING IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Busy, Principal and Interest (Refinancing Only)

  • Refinancing only. Fast online application
  • No Nano fees. 100% free sub-account clearing
  • Mobile app, Visa debit card and instant payments
Variable More details
YOU COULD WIN $ 100,000 TO REPAY YOUR LOAN *

Owner Occupant Accelerate – Celebrate (LVR

  • For a chance to win $ 100,000 for your home loan, apply to Athena before October 31 and get approved by December 15
  • We reduce your rate based on the amount you have repaid on your loan
  • Automatic rate matching

Owner Occupant Accelerate – Celebrate (LVR
  • For a chance to win $ 100,000 for your home loan, apply to Athena before October 31 and get approved by December 15
  • We reduce your rate based on the amount you have repaid on your loan
  • Automatic rate matching

Variable More details
EASY ONLINE REQUEST

Garden mortgage (principal and interest) (special) (LVR
  • Unlimited additional refunds
  • Unlimited free withdrawals
  • Optional 100% compensation can be added for $ 120 per year ^


Image by Stanislav Remnev on Unsplash

The entire market was not taken into account in the selection of the above products. Instead, a smaller part of the market has been envisioned, which includes the retail products of at least the Big Four Banks, the Top 10 Customer-Owned Institutions and Australia’s largest non-banks:

Products from some vendors may not be available in all states. To be taken into account, the product and the price must be clearly published on the website of the supplier of the product.

In the interest of full disclosure, Savings.com.au, Performance Drive, and Loans.com.au are part of the Firstmac group of companies. To learn more about how Savings.com.au handles potential conflicts of interest, as well as how we are paid, please click on the links on the website.

*Comparison rate is based on a loan of $ 150,000 over 25 years. Please note that the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as draw charges and cost savings such as fee waivers are not included in the comparison rate but may inuence the cost of the loan.


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