Aussie Home Loans has launched a new home loan product in partnership with Macquarie Bank.
Aussie IQ, an evolution of Aussie Optimizer, provides Aussie brokers with a digital offering where documents and signatures can be done online.
The Aussie IQ Basic and Aussie IQ Offset home loans utilise digital verification of identity via the ZipID smartphone app, electronic delivery of loan documents and digital sign functionality through DocuSign.
The Aussie IQ Offset provides borrowers with options for multiple splits and offset accounts, and gives customers the option of linking their loan to Aussie-branded transaction or offset transaction accounts with access via an Aussie branded Platinum Debit MasterCard®.
When using the card, customers will benefit from no account fees, no international purchase fees and no ATM fees on the rediATM network and an instant refund of fees incurred at all other ATMs.
The two IQ loans are only available for residential properties and are for those borrowing between $150,000 and $5 million (dependent on LVR) over a term of 30 years.
They are available with principal & interest or interest-only repayments (however, the latter is only up to five years at a time and up to 10 years total).
Interest rates for the Aussie IQ loans start from 3.69 per cent for those paying principal & interest with a 70 per cent LVR, while the interest-only versions start from 4.14 per cent.
Speaking of the new product, David Smith, Aussie’s general manager for product and strategy, said: “Aussie IQ represents the very latest in home loans, combining a competitive rate with innovative technology and flexible product features. Our customers will be able to transact with us and their loan account online all day, every day and from anywhere.
“The evolution of home loans has gone one step further where product document delivery and signatures can all be done online, creating greater convenience and speed of service, so we’re thrilled to be providing this for our customers and brokers.”
Borrowers can also transact via the Aussie IQ online platform 24 hours a day, seven days a week.
[Related: Mortgage arrears at five-year high: Moody’s]
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