16 October 2017

NAB embeds in property search market

12 October 2017  |  3404 views  |  0 NAB web logo

National Australia Bank is working with online property finder realestate.com to integrate financing options with housing searches.

Buyers can instantly apply for online conditional approval for a home loan powered by NAB and have their finance information overlayed as they search. Or they can access a panel of more than 30 other lenders through realestate.com.au Home Loans.

The site features a ‘Liveability’ tool, which allows people as they search to better understand how mortgage repayments on a specific property might affect their lifestyle. Based on how much income is left over after expenses and repayments, a scale will show whether a buyer’s standard of living post-purchase would be ‘Easy’, ‘Stretched’, or ‘Struggling’.

An integrated calculator on all individual property pages is also incorporated to provide an estimate of upfront costs, like stamp duty, as well as ongoing home loan repayments.

Angus Gilfillan, NAB executive general manager of consumer lending, comments: “We want to help simplify the property-buying experience for Australians. This digital integration of search and finance means we’re making a process that is, for many Australians, quite overwhelming, a much easier part of the property journey."

Earlier this month, NAB rival ANZ acquired a startup that uses data analytics and crowdsourced market chatter to provide prospective home buyers with accurate predictions of property price momentum in Australia's fervent real estate market.

Speaking at the time, ANZ managing director customer experience and digital channels Peter Dalton said: “This is an important acquisition for our digital transformation as we know customers are increasingly turning to online resources for help as they navigate the Australian property market."

Westpac is also getting in on the act, investing another $5 million on top of an initial stake of $21.5 million in digital broker Uno home loans.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ANZ acquires proptech startup REALas

ANZ acquires proptech startup REALas

03 October 2017  |  4603 views  |  0 comments | 4 tweets | 3 linkedin
Australia's NAB and Westpac back data sharing startup Basiq

Australia's NAB and Westpac back data sharing startup Basiq

07 June 2017  |  5198 views  |  0 comments | 2 tweets | 6 linkedin
NAB opens client access to equity investments via OurCrowd

NAB opens client access to equity investments via OurCrowd

05 June 2017  |  4229 views  |  0 comments | 4 tweets | 4 linkedin
RBC and NAB invest in financial management software firm Wave

RBC and NAB invest in financial management software firm Wave

30 May 2017  |  5109 views  |  0 comments | 7 tweets | 18 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register now visit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14296 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13026 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8933 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7835 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7562 views comments | 13 tweets | 13 linkedin

Featured job

Find your next job