A win for clients seeking a fast decision
Heartland Home Loans has announced it is committing to giving client applications a decision within 48 hours of receiving all information required.
Customers will learn if their application is approved or declined within 48 hours (excluding weekends and public holidays) of Heartland receiving each applicant’s necessary information, including bank statements, supporting documentation or further clarification on information required.
The lender said it was committed to offering large savings to its customers and the lowest standard fixed home loan rates.
‘’A Heartland home loan could save a borrower up to $42,000 in interest payments on a $500,000 loan, over the course of a 25-year term with principal and interest repayments,’’ said Heartland Bank CEO Chris Flood.
Read more: Heartland reports strong full-year results
Heartland’s self-serve home loan application was designed to reduce friction associated with interaction with a bank, allowing people to apply for a mortgage at their convenience without a bank representative.
Eligible customers can complete the online digital application without having to make an appointment or arrange for someone to come to them.
“People shouldn’t need to pay so much for their mortgage. Our home loan application is disrupting the traditional market in favour of a speedy digital solution, one which can offer customers market-leading rates and time savings,” said Flood.
Heartland currently offers market-leading two and three-year fixed residential mortgage rates at 3.79% and 4.15% per annum respectively.
To be eligible, customers must be refinancing or purchasing a standalone house on a single section in an urban New Zealand centre. They must have a deposit, or equity, of at least 20%, own the property in their own name and intend to live in the property.
