TechLend, a specialist in non-bank bridging loans, is reducing its pre-approval times, allowing buyers to “bid with certaintyâ€.
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evolving and developing and using this we are committed to providing owners with innovative solutions to what is an outdated system,†he said.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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Buying a home or looking to refinance? The table below shows home loans with some of the lowest interest rates on the market for homeowners.
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Lender |
Rate type | Gap | Redraw | Ongoing charges | The initial costs | LVR | Lump sum reimbursement | Additional refunds | Pre-approval | ||||
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Variable | More details | |||||||||||
| FEATUREDLIMITED TIME OFFER | |||||||||||||
Smart Booster real estate loan at variable discount rate – 2 years (LVR
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Variable | More details | |||||||||||
| FEATURED100% FULL ACCOUNTNO APPLICATION FEES OR CURRENT FEES | |||||||||||||
Low rate home loan – Premium (principal and interest) (owner occupied) (LVR
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Variable | More details | |||||||||||
| FEATUREDREFINANCING IN MINUTES, NOT WEEKS | |||||||||||||
Nano Home Loans Variable Owner Busy, Principal and Interest (Refinancing Only)
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Variable | More details | |||||||||||
| FEATUREDYOU COULD WIN $ 100,000 TO REPAY YOUR LOAN * |
Owner Occupant Accelerate – Celebrate (LVR
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Owner Occupant Accelerate – Celebrate (LVR
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Variable | More details | |||||||||||
| FEATUREDEASY ONLINE REQUEST | |||||||||||||
Garden mortgage (principal and interest) (special) (LVR
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- Fast turnaround times, can meet a 30 day settlement
- For purchase and refinancing, minimum deposit of 20%
- No ongoing or monthly fees, add compensation for 0.10%
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.
