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Uno Home Loans adds 86 400 to lender panel

Challenger bank 86 400 has become the first neobank to join the online broking platform’s lender panel.

86 400’s “Own” home loan offering is available to owner-occupiers, investors, refinancers and purchasers, and provides borrowers with both variable and fixed rate options.

Last week, 86 400 also introduced tiered variable rates, providing borrowers with higher deposits access to lower rates.

86 400’s variable rates start from 2.59 per cent (2.87 per cent comparison rate).

According to uno, 86 400’s inclusion would also grant customers access to an end-to-end digital lending experience, with turnaround times “up to six times faster than a big four bank”.

Uno claimed that 86 400’s digital verification model “dramatically simplifies the application process” by automatically pulling the required information from borrowers (i.e. income and expenses).

Following the announcement, uno Home Loans CEO Anthony Justice said the partnership would advance the online broking platform’s service proposition.

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“86 400 has created a unique lender model which seeks to transform how home loans are done by giving customers a superior digital experience – a true alignment with uno’s ‘Active Home Loan Management’ proposition,” he said.

“Our number one goal at uno is to make the home loan process easier and more transparent to help our customers start on a great rate and stay on a great rate.

“We know our customers want to do more online, so being able to bring on a digital lender to complement our digital broking offering is a critical step in our mission to be the go-to place for a fast and competitive online home loan.”

Robert Bell, 86 400 CEO, added: “Uno’s customer-first approach to doing business aligns really nicely with our own – helping Australians take control of their money.

“Our smarter approach to home loans not only includes the great rates you’d expect, but also a streamlined digital application process and a super fast time to approval, meaning borrowers can own their home sooner – without sifting through piles of paperwork.”

[Related: Xinja announces CDR partnership]

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