Adviser launches digital home loan service

Tella, a New Zealand fintech, has launched a new digital mortgage application service.

Wednesday, July 6, 2022, 1:36 p.m.

by Eric Frykberg

It aims to simplify the purchase of a house in a range of classes.

Often the process of getting a home loan is more daunting than exciting. And it can be extremely slow,” says Andrew Chambers, co-founder and managing director of Tella.

“We’ve removed the jargon, paperwork and trips to the bank, to simplify and speed up the application process for first-time home buyers, landlords and real estate investors.”

The system operates as a web-based application and will allow Tella’s own advisers to use the system as a link between their clients and banks or non-bank lenders.

“The system is dynamic,” Chambers said.

“As you answer the question, it’s about identifying your needs.

“We still have humans behind all of this, but that’s sort of what the traditional counselor would do in terms of qualifying what questions to ask and what not to ask.”

Chambers said it would empower people to make informed and confident financial decisions about their future by developing strategies that work for them.

“Any fintech-focused company has innovation in its DNA,” said fellow Tella co-founder Stephane Mathieu.

“But we use it in a way that transforms the whole experience.”

He said digitizing the process didn’t remove the human factor – there were four advisers ready to help if more information was needed.

Tella said some buyers in the past have spent two weeks filling out forms to get a home loan, but this system could be completed and ready for banks in half an hour.

The company added that the system would work well for banks and non-bank lenders as well as potential homeowners.

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