Lender launches auto-valuation tool

The new service comes after the bank announced it was closing stores

Lender launches auto-valuation tool


By Rebecca Pike

After announcing recently it would be closing branches across the east coast, Bankwest has now launched a new broker tool.

Brokers using the lender’s Home Lending Portal can now request a free, upfront auto-valuation (AVM) prior to starting a new home loan application.

The AVM is available in addition to the existing upfront full valuation service currently available via the broker website.

It is intended to help to remove uncertainty around one of the key decision factors which impact the approval of a home loan application, allowing brokers to have more meaningful conversations with their customers.

Bankwest head of third party banking, Ian Rakhit, said the new functionality has been added following feedback from brokers.

He said, “We’re in a continual dialogue with our broker network and we’ll continue to listen to feedback to ensure we’re designing products and services that meet broker needs and customer and community expectations.

“Being able to provide an upfront valuation in this way will help brokers provide a first-rate service to prospective home buyers and those looking to refinance their existing loan.”

The new service is the latest addition to the digital service Bankwest has brought to its brokers over the last 18 months including the Home Loan Pricing Tool, the Home Lending Portal and the Home Loan Application Tracker.

Bankwest’s general manager, customer transformation, Jarod Avila, said the new service offering reflects the importance Bankwest places on its relationship with its broker partners.

He said, “At Bankwest our relationships with brokers are very important to us, so we’re continuing to invest in them. We’re on a journey to create a world-class home loan experience, making it simpler and easier to support them in servicing customers.

“This is the first release of the AVM and we will look to add in enhancements to policy and increased vendor presence to improve accuracy and usage of the service.

“The Home Lending Portal, the Home Loan Pricing Tool, Application Tracker and now the AVM have all been designed with their needs and goals in mind, as we continuously evolve and improve our broker offering.”



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