TechLend slashes property buyers’ pre-approval times to within an hour

Aaron Bassin, Chief Executive Officer at TechLend

TechLend is offering Australian home buyers pre-approved bridging loans in just one hour, in a move certain to reduce much of the stress from the property buying process.

Courtesy of its proprietary technology which leverages property data and value to offer bridging loans quickly, the company can now offer conditional approvals within the hour.

TechLend set to ease property buying processes

Aaron Bassin, the Chief Executive Officer at TechLend is excited about their milestone.

“Borrowers can now fill out a simple five minute online application form and our proprietary technology will run an eligibility calculation for instant conditional approval.”

“You can 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 a green light from us.”

“Buying a house is a very stressful process. Getting certainty around financing a bridging loan is now one part of the process that consumers don’t have to worry about.”

“TechLend’s digital solution caters to a wide variety of customers from business owners and individuals who are self employed, to retirees who are looking to downsize.”

“Our technology is constantly evolving and growing and utilising this, we are committed to providing homeowners with innovative solutions to what is an outdated system.”

TechLend is set to harness its exponential growth

Techlend’s offering takes the pressure off downsizers and families who often struggle to realise liquidity due to the archaic and largely manual systems used by the major banks.

An article by The Australian Financial Review predicted that about 1.6m people will be looking to downsize over the next 5 years, based on data from National Seniors Australia.

TechLend clocked $100m in bridging loan applications, thus demonstrating what has been unprecedented demand for its product, and as Aussies continue to take advantage of a hot property market, the exponential growth shows no signs of slowing down.

TechLend offers homebuyers interest-free, paperless, bridging loans with pre-approval confirmed within an hour. This is a strategic and revolutionary move that facilitates homeowners to purchase a new home before they sell their currently existing home.

TechLend secured $50m in funding from Silicon Valley venture debt and growth credit fund, Partners for Growth so as to turbocharge growth in its home loans business.

TechLend is the brainchild of former MoneyMe strategist, Aaron Bassin and mortgage broker Nick Jacobs, who launched the company after frustrations in traditional home loans.