Non-bank lender Homeloans has launched a new online mortgage, iMortgage.
According to a company statement, the iMortgage boasts an interest rate of 6.79 per cent and a 90 per cent LVR.
“Homeloans launched the exclusively online mortgage because it feels there is a growing segment of the market that prefers to perform transactions online,” the company statement read.
Borrowers interested in the iMortgage home loan can liaise with Homeloans’ loan consultants remotely after filling in a simple online questionnaire.
“When borrowers are ready to apply, the consultant will collect the appropriate information from the borrower and then send them applicable documentation. Borrowers will send back the forms in addition to validation of their identity and financial position. From there the application is assessed and, depending on its merits, the loan will proceed to settlement,” the statement read.