subscribe to our newsletter
Realestate.com.au Home Loans hit the market

Realestate.com.au Home Loans hit the market

In what they have labelled an “Australian first”, NAB and realestate.com.au have combined searching for property and getting a home loan in a single experience with the launch of a new mortgage business.

Buyers can now use realestate.com.au to instantly apply for online conditional approval for a home loan powered by NAB and have their finance information overlaid as they search.

Alternatively, they can access a panel of more than 30 other lenders through realestate.com.au Home Loans.

The platform includes a "Liveability" tool, which allows people as they search to better understand how mortgage repayments on a specific property might affect their lifestyle. Based on how much income is left over after expenses and repayments, a scale will show whether a buyer’s standard of living post-purchase would be "Easy", "Stretched", or "Struggling".

Users can save their information to their realestate.com.au profile, which follows them throughout their search experience, and they can adjust their planned purchase price or deposit amount for a particular property to calculate what they may be able to afford.

When a home buyer is ready to purchase, the same information can be used to autofill an online conditional home loan approval application powered by NAB.

“We want to help simplify the property buying experience for Australians. This digital integration of search and finance means we’re making a process that is, for many Australians, quite overwhelming, a much easier part of the property journey,” NAB executive general manager of consumer lending Angus Gilfillan said.

“We’re bringing our financial expertise to realestate.com.au so that Australians can search for a home and secure conditional approval, all in the one location, then go ahead and bid or buy with confidence,” Mr Gilfillan said.

NAB and REA Group, the parent company of realestate.com.au, announced a joint venture last year. The five-year deal included a suite of NAB-funded home loans white labelled as realestate.com.au Home Loans.

Earlier this year, REA absorbed Choice Home Loans and acquired national mortgage broker Smartline.

[Related: NAB boss highlights new mortgage distribution deal]

Realestate.com.au Home Loans hit the market
mortgagebusiness logo

Latest News

A regional bank has revealed its full-year 2018 financial results, reporting a fall in residential mortgage settlements amid “challenging...

Former prime minister John Howard has called on the financial services royal commission to “bear in mind the stability and contribution”...

Macquarie Group has secured a stake in Investa Office Fund (IOF) months after Blackstone submitted a $3.1 billion takeover proposal. ...

FROM THE WEB

podcast

LATEST PODCAST: Cash rate to remain unchanged, corporate cops for the banks and a new type of credit card

Do you expect access to credit to get harder this year?