Four Advantages of Online Home Loan Applications
Applying online for a home loan offers homebuyers more convenience.
Are You New to Applying Online for Home Loans? (Brief Overview of Process). If this process is all new to you, then it may seem complicated at first. Here is what to know when applying for home loans online:
Allow us to guide you through the process and its advantages.
1. Submit Anytime One of the advantages of applying online is how flexible it can be; you choose where and when to submit an application – whether that means during your daily commute, at home on weekends, or after you put the kids to bed.
Once again, supporting documents must still be provided; however, applying online allows these to be uploaded digitally, saving time from printing, scanning or mailing requirements.
“Having all your supporting documents ready beforehand can ensure a more straightforward application process,” Westpac’s Head of Mortgages Strategy and Products Claire Scott tells realestate.com.au.
“To start off right, create a checklist of all of the documents that may be needed – such as identification documents, payslips and bank statements – then have digital copies ready so they’re easy to upload from any device when required,” suggests she.
2. Proceed at Your Own Pace
No longer does loan processing need to involve setting an appointment and collecting all documents at one sitting; with digital loans it allows you to save as you go and you have complete control.
“Applying for a home loan should not be taken lightly,” Scott cautions.
“Filling out an application online provides you with the flexibility of working at your own pace while saving progress along the way.
“This means that at any point in time you can jump back in where you left off and resume where you were.
3. Access tailored service whenever needed
Looking to talk with one of our experts online instead of visiting one of our physical branches? No problem; just get in touch and we will connect you.
Are You Confused by Digital Home Loans? Don’t Worry; We Can Help. Speak With Specialists Now on Phone or Online!
At Westpac, our Home Finance Managers are always on hand to offer support with any queries or assist with anything needed along the way, be it over-the-phone or via our live chat function,” Scott notes.
4. Monitor Your Application Applying online also enables you to track your application in real-time, providing peace of mind over its progress.
Digital experiences allow you to log-in and follow a digital process there.
“With more processes becoming digitised, including virtual property viewings and auctions as well as providing electronic signatures, home buying is now often completed entirely online,” according to Scott.
As this process is online, the beauty is that you can get going right away – from starting to apply for your home loan application all the way through to settlement.
