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86 400 joins uno Home Loans’ panel of lenders in new FinTech partnership

By Edil Corneille

August 27, 2020

  • 86 400
  • Australia
  • Uno Home Loans
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86 400, neobank, smartbank, Australiauno Home Loans, an Active Home Loan Manager in Australia, today announced 86 400 has joined its panel of lenders. uno and 86 400 are challengers in the digital mortgage space; driving competition, choice, and delivering solutions to meet and improve the lives of Australians.

86 400 becomes the first neobank lender on uno’s panel and will give customers access to a digital home loan with competitive rates, next to no paperwork, and a time to approval that is said to be up to six times faster than a Big Four banks.

uno Home Loans CEO Anthony Justice elucidated, “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.”

“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,” Justice added.

Last week, 86 400 introduced tiered variable rates for borrowers, giving customers with higher deposits access to lower rates. Variable rates start from 2.59 percent p.a. (owner-occupied, principal and interest 60 percent LVR and below) with comparison of 2.87 percent p.a.

Robert Bell, 86 400 CEO enunciated, “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.”

With 86 400’s ‘Own’ home loan product, once an application has been lodged through an uno broker, customers can finalise their application directly from their smartphone. The 86 400 experience is said to simplify the application process, thereby eliminating the guesswork and ending the hassle of trawling through paperwork by automatically pulling the required information – such as income and expenses – direct from customer accounts.

86 400’s home loan offering, which is available for purchasers, refinancers, owner-occupiers, and investors, is a fully-featured loan, with fixed and variable rate options, both with redraw. The variable rate loan also has the ability to link to multiple offset accounts (both 86 400 Pay and Save accounts).

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