Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

BNPL for bridging loans ups ante

By Staff Reporter
15 October 2021 | 1 minute read
Techlend

A non-bank lender is leveraging property data and values technology to now offer conditional approvals for buy now, pay later (BNPL) style bridging loans in less than 60 minutes.

TechLend, which has previously been touted as “Afterpay for home loans”, said the new feature of its bridging loan product had been made possible thanks to proprietary technology.

That technology allows them to offer bridging loans based on conditional approvals within the hour through the use of property data and values.

“Borrowers fill out a simple five-minute online application, and our proprietary technology runs an eligibility calculation for instant conditional approval,” explained TechLend chief executive Aaron Bassin.

He added: “You could literally apply for pre-approval on bridging finance on your way to a house inspection or auction and be able to bid with certainty once you get the green light from us,” he said.  

TechLend believes their “unique offering” can take the pressure off downsizers and families who may be struggling to realise liquidity – something it blames on “the archaic and largely manual systems used by the major banks”.

To date, TechLend has clocked over more than $100 million in bridging loan applications.

The business has also secured $50 million in funding from a Silicon Valley venture debt and growth credit fund, as it looks to turbocharge its future growth.

BNPL for bridging loans ups ante
Techland Jacobs Bassin reb
lawyersweekly logo

Tags:

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.