subscribe to our newsletter

Fintech launches home loan top-up service

A new “self-service” home loan top-up platform has been launched in Australia, in a bid to reduce inefficiencies associated with extending a loan facility.

Australian fintech Sandstone Technology has announced the launch of Loan+, a fully integrated, real-time, self-service, home loan top-up platform.

According to Sandstone Technology, Loan+, which is adapted to LIXI standards, is a stand-alone module that can be fully integrated into any loan origination platform.

The fintech added that the new platform leverages on the business’ existing digital acquisition expertise, including human psychology and online buying behaviours, while also adapting to changes in a bank’s credit policies, allowing users to make alterations with minimal involvement from third parties.

Sandstone noted that any proposed home loan top-up amount would be subject to the financial institution’s own credit policy, including loan-to-value ratios, property valuations and the applicant’s level of equity.


Following the announcement, Sandstone Technology’s general manager of digital acquisition, Raymond Yap, said: “After many years working closely with banks, non-bank lenders and aggregators in the financial sector, we’ve recognised a major pain point for our clients.

“With an economic landscape being conducive to growth in lending, many financial institutions have focused their attention on gaining new customers and market share in home loans.

“In the meantime, maintaining relatively manual and paper-intensive processes when it comes to home loan top-up facilities for existing customers continues throughout the industry.”

Mr Yap said the simplification of the top-up process would enable lenders to retain their customers.

“There’s no doubt that ineffective home loan top-up processes are currently contributing to customers considering their options to refinance resulting in unwanted attrition,” Mr Yap added.


“It’s fair to say that in many cases, customers have taken their business directly to a competitor, choosing to refinance rather than continue with what should be a simplified service.”

Mr Yap added that Loan+ seeks to balance the banks’ interests with the customer experience, which he said would provide a “significant benefit to both sides”.

[Related: BNK targets customers with complex finances]

Fintech launches home loan top-up service
Fintech home loan

Latest News

A new FOI document released by the RBA shows that it believes economic risks may increase due to low interest rates, and that house prices...

Plans to purchase a home declined in December 2020, while home loan application numbers also weakened compared with November, according to ...

December was the second strongest month for new home sales in the 20-year history of the survey, which was attributed to the HomeBuilder pac...


Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.


LATEST PODCAST: A new record in mortgage approvals

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.