How home loan digitisation is helping homeowners and investors

The home mortgage is moving into the digital age and has been sped up as a result of coronavirus and many borrowers will benefit from this with easier and more convenient loans and more borrowing options.

The home mortgage is moving into the digital age and has been sped up as a result of coronavirus and many borrowers will benefit from this with easier and more convenient loans and more borrowing options. Many lenders have responded to the social distancing rules required by COVID-19 by allowing the online verification of customers’ identities rather than requiring them to meet personally every time. Lenders are also accepting e-signatures and doing online property valuations, which means a cheaper and faster process for the customer. Vincent Turner, Founder at UNO Home Loans, says that taking away some of the manual steps for getting a home loan lets customers switch lenders more easily and will help ensure they always are on a great deal.

No need to visit a bank branch

UNO has been using digital IDs of customers for a long time, but when it came time to sign the loan, many lenders insisted the customer come into a branch for Verification of Identification, or VOI as it’s known. The COVID-19 crisis has changed that, with more lenders accepting a digital ID provided by the client’s broker. It’s a simple process (3 key steps) and is designed to ensure we protect your identity and avoid any risk of fraud:

  • The client sends a photo or scan of their ID document like a passport or driver’s license to the broker.
  • Next during a video call between the client and their broker on Skype, Zoom, Google Meets or any other meeting app, the broker saves a screenshot of the client holding up their photo ID to confirm they are who they say they are
  • The final step is for the broker to confirm the ID document is genuine At the same time more and more lenders are accepting the use of e-sign signatures on application forms and mortgage documents instead of paper signatures. Taken together, these developments mean more and more property owners can complete their mortgage application and signing without having to leave home to visit a bank branch.

The age of the automated property valuation

Property valuations – which banks require before they will lend against a property – are also changing. Lenders are using more automated valuations, where a computer algorithm assesses the value of a property, and more desktop valuations, where an analyst does an online valuation by using publicly-available information such as the size of a property and its location. While lenders still require in-person valuations for some properties, the digital valuations are becoming more common and mean borrowers don’t have to go to the trouble of coordinating times with the valuer and letting them into the property.

Easier switching for a better loan deal

For Vincent Turner, making home loans easier and more convenient is a key part of UNO’s offering, because it removes barriers to switching lenders and negotiating a better loan deal. Getting the great deal isn’t just about the start of a mortgage, it’s also about making sure you have a great deal throughout the life of your loan, and that’s why borrowers need to have the option of easily switching lenders, Vincent says.

Digital tools to calculate the real cost of home ownership

Having digital tools at your fingertips like online mortgage calculators and home loan health check tools is something that we have been pioneering since we started 4 years ago. If you’re already a homeowner you might be interested in one of our most regularly used tools is loanScore. It’s an online tool, completely free – and once you’ve signed up it regularly alerts you when you could be saving money by refinancing or changing lenders. Check your loanScore here.We also have a number of online calculators like our How Much Can I Borrow?, Calculating Stamp Duty and Home Loan Repayments Calculator ensure that you are well informed before you start the home loan process. We also have online tools such as our Mortgage Holiday Calculator or our Newsroom that offers loads of helpful information, tips and advice online. Wherever you are in your journey, we encourage you to seek out all the great digital tools and resources out there at your fingertips so you can be informed, take action quickly and easily. Book in a quick call with our customer care team.Book a call in with UNO

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Sam Rezai
October 2, 2024
I have gone through 6 different mortgage brokers prior to meeting Andrew Wyers. He is the most patient mortgage broker I’ve encountered and also the most knowledgable about the bank’s lending process and products available. It took me 1 year to find a house I was happy with and Andrew was always there to assist with any issues or questions I had; he always return my phone call, even on the weekends or when his away on holidays. The loan process was smooth and I had no complications. The process with Andrew was again nice and easy, he took the time to find and put together the right package that was suited to my situation. I have recommended Andrew to my family & friends and everyone have been grateful and completely satisfied with his service.
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S Wilko
September 23, 2024
I had not dealt with Scott or UNO before finding them on the internet. Even as an Australian citizen living and working overseas, I knew obtaining a loan would be difficult. However, Scott went above and beyond what I expected from a mortgage broker. I genuinely don’t think you could find another company that works as hard as they did to get my home loan approved. I cannot recommend them highly enough. Everyone I dealt with at UNO were extremely professional and helpful. If you are looking for a broker, you would be mad not to give them a go. Thanks to Scott Wilkinson, Dalby Bajwa, Jena Lasquite and Andrew Pacini. Shaun.
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Shan Liao
September 3, 2024
I had an outstanding experience with Tian Liu. He was incredibly professional and attentive, going above and beyond to meet my needs. His expertise and dedication made the entire process smooth and stress-free. Tian's deep knowledge of the market and commitment to finding the best solutions for his clients truly sets him apart. He was always available to answer my questions and provided invaluable guidance throughout. I highly recommend Tian Liu to anyone in need of a reliable and skilled broker!"
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Nathanael Chin
September 3, 2024
Tian Liu provided exceptional service throughout the entire process. His professionalism and keen attention to detail were evident from the start. Tian consistently kept us informed and offered insightful advice that made us feel confident in our decisions. He truly cares about his clients and works tirelessly to ensure the best possible outcome. We couldn't be happier with his assistance and highly recommend Tian to anyone looking for a trustworthy and knowledgeable broker.
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Patrick Winters
August 14, 2024
For the past three years, it has been an absolute pleasure to work with Mike Parsons. He has consistently helped us navigate commercial property loans with skill and efficiency. Mike’s timely and professional responses to our inquiries have been invaluable. We have built a strong, reliable relationship with him and eagerly anticipate continuing our collaboration in the future. We highly recommend his services.
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Lee Robibaro
August 6, 2024
I am so thankful and grateful to have Scott Wilkinson as my broker. He not only looked after me every step from start to finish he gave me confidence and I was able to trust him and his expertise. My children and I are now happy in our new home and very appreciative of Scott's help. I will definitely be only having Scott as my broker from here onward as there is no mucking around and straightforward answers. Thanks again
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Steve Mav
August 6, 2024
Scott and the whole team at uno have been amazing. Super responsive and helped us achieve a result that we couldn’t have possibly achieved on our own.
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Thien Pham
August 5, 2024
Scott, Dalby and Jena were awesome to work with for my recent Home Loan, they are responsive and knowledgeable - which helped ensure a smooth purchase from pre-approvals to settlement. This is the second property I've purchased with UNO as my mortgage broker and would definitely recommend their services. Thanks again to the UNO Team for the awesome support.
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Scott Hutchinson
August 5, 2024
I am writing this summary in support of recommending Mike Parsons as a Mortgage Broker. At the time of writing this, I have known Mike for 4 years and he has executed 4 mortgages deals for me (including 2 refinances) over that time. Mike has provided me incredible service as a mortgage broker as follows : - Works painstakingly on getting the scenarios together to provide you options that optimize your position. - Works inordinate hours on the detail necessary to support the scenarios. - Mike keeps you updated on the status and progress of the applications and also helps you work through answering questions and any complexities that may arise. -In my cases, given the complexities and timings of my situations , these application processes would take many weeks to finalize . Mike never gave anything other than utter commitment and focus to getting the job done. Mike acts as a true business partner throughout this whole broker /mortgage journey. I simply would only go to Mike for any future dealings on getting a loan from a bank (and as will my kids in the future !) . There is no way a bank (I have seen anyway) would provide this kind of time nor service to a customer. You can rest assured that once Mike has done the deal, you have ended up with the most optimized position taking into account all the variables/scenarios in play. Scott Hutchinson
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Jason Seam
August 5, 2024
I've worked with Scott Wilkinson for my last 2 properties and he's been excellent. He sourced multiple options and didn't push a specific bank, tailoring his recommendations to me based on my requirements. I was specifically requesting a "medico loan" and Scott could navigate that extra requirement with expertise. When I was initially working with Scott, I was also trialling 2 other brokers and neither of those 2 had the same breadth of lenders, or could provide the same deals. I've referred multiple buyers to Scott and his team; one of them said to me after working with him, "how'd you find this guy, he's so good compared to all the other broker's I've worked with!" I'm going into my next purchase with Scott as my broker partner again. I recommend him to everyone
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Tina Anderson
July 29, 2024
My experience with Mortgage Broker - Scott Wilkinson, and his team - exceeded my expectations! I couldn’t be happier after settlement - in this current financial climate. He listened to what my requirements were in a loan and then devised a suitable plan for me moving forward. Which was something I didn’t think was possible to achieve. I strongly believe that Scott’s qualifications and previous experience in the Finance Sector - sets him apart from other Mortgage Brokers as he has more insight into the industry and the needs of the customer. Scott was professional, provided solid options, was timely with communication and gave great advice. I will definitely be using Scott’s services in the future and I highly recommend him to anyone as a Mortgage Broker.
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Marlon Baena
July 22, 2024
Karis dedication to assisting with our home loan, even while I was on holidays, truly exemplifies a commitment to excellent service. It's the small things that often make a big difference, and it seems Karis attention to detail and clear communication were key to our smooth home purchase. I highly recommend using UNO and Karis for your home loan needs.
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