An aggregator has launched its second white label solution specifically designed to address the “common broker pain point” of delayed lender turnaround times.
Mortgage Choice launched its new offering, Home Loans Propel, at the Company’s 2021 National Conference.
The white label product is the first on the market backed by Australian Mortgage, which was founded in 2017 and is led by a range of industry veterans including James Green, Kym Dalton, Graham Andersen, Luke Andersen, Phil Hurditch and Brad Seymour.
According to Emma Dupont-Brown, Mortgage Choice general manager of product and corporate communications, the group has been working on this launch with Australian Mortgage for over a year.
“Mortgage Choice Home Loans Propel will revolutionise the way our brokers serve their customers, giving them the ability to offer a verified home loan approval in 15 minutes,” Dupont-Brown said.
“Our brokers will now be able to offer customers the peace of mind that they won’t miss out on buying their dream home or have to wait weeks or even months of uncertainty to refinance. Our rapid approval process combined with electronic docs and title insurance; means we can settle a loan in as little as 24 hours.
“Speed has arguably never been more important in our industry. Constrained supply and increasing demand for property has created a sense of urgency for home loan customers to gain access to credit fast. This is the driving motivation behind our newest offering. We want our brokers to be able to move through files quicker, reducing the wait time, empowering their customers to act with confidence.”
Propel is the second white label product launch for Mortgage Choice, as they went to market with Home Loans Ignite in partnership with Pepper Money in February 2020.
The group’s brokers will be able to offer the new Propel product from 25 February 2021
“We’ve seen lending partners take steps to adopt components of the digital home loan process such as upfront valuations and bank statements, data scraping and electronic signing. Australian Mortgage incorporates all the latest advancements in the application process in a single experience,” Dupont-Brown added.
“This partnership means more customers will be able to benefit from speed, certainty and the confidence of knowing that their home loan is associated with the iconic Mortgage Choice brand.”