Powered by MOMENTUM MEDIA
subscribe to our newsletter
Specialist loans no more complex than ‘vanilla’ loans

Specialist loans no more complex than ‘vanilla’ loans

A leading technology service provider says the common belief that specialist loans are more complex than vanilla home loans is incorrect.

Speaking about non-bank lender Pepper’s one-day turnaround times achieved with NextGen.Net’s ApplyOnline Supporting Documents service, NextGen.Net sales director Tony Carn said technology is making the specialist lending space simpler for brokers.

“It is often assumed that a specialist loan is more complex than a prime loan,” Mr Carn said.

Advertisement
Advertisement

“The fact is that often they’re not and Pepper is renowned for making the process very simple,” he said.

“They have a great offering and they use technology well to make it an easy, simple and transparent process.”

Pepper originates 95 per cent of its loans through the broker channel and uses ApplyOnline to process loans all the way to settlement.

“We’re currently turning around applications in one day,” Pepper’s director, sales and distribution, Mario Rehayem said.

“When we receive an application from our advocates (brokers who use us most and know what we require), we can turn an application around the same day – which is market leading.”

NextGen’s Mr Carn said implementing the Supporting Docs service will make it an automated process for Pepper.

Mr Rehayem said the ApplyOnline Supporting Documents service is “the new norm”.

“Anyone who doesn’t have it will soon be the odd one out,” he said.

Specialist loans no more complex than ‘vanilla’ loans
mortgagebusiness

 

Latest News

Consumers are more pessimistic about the economy following the Reserve Bank’s rate cut in June, according to new survey results. ...

The upper quartile of the housing market has suffered the sharpest declines in dwelling values, but according to CoreLogic, prices in that s...

The mutual bank has announced the introduction of a new investment home loan product. ...

FROM THE WEB
podcast

LATEST PODCAST: A new record-low cash rate

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

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