Do you hate long waits? You will love this. Bankwest reduces mortgage application times

0

Step back a decade, and Australians couldn’t have imagined paying for anything with a tap of their smartphone. But today, you can even use your handy gadget to take out a home loan.

Bankwest is the latest lender to help Australians beat the clock using technology. The bank has just launched a new digital signature service that could cut mortgage approval times by three.

“Currently it takes around 13 days for a new home loan to be ready to settle, but with digital signing this can be reduced to less than four business days for new home loans and less than 24 hours for new ones. increases to existing loans,” Bankwest Executive General Head of Customer Experience, Andrew Chanmugam said.

Borrowers can access the service via their smartphone, laptop or tablet. And according to Bankwest, any detected errors can be corrected quickly, thanks to the service’s electronic audit trail.

For all the eco-conscious homebuyers, this service should also help Bankwest reduce its paper consumption by 2.3 million sheets of paper per year.

But Bankwest isn’t the only one boarding the digital mortgage train. Other lenders, especially online options and big bank challengers, are also updating application processes to make them smoother, faster and less complicated for borrowers. Read on to see some of the other home lenders saving Australians time with innovative application processes.

Share.

Comments are closed.