Nano breaks the mould with "the world's fastest home loan"
Taking aim at two of the biggest gripes amongst home borrowers – slow approvals and uncompetitive rates – digital lender Nano has opened its doors in Australia with super cheap rates and what it claims to be “the world’s fastest home loan”.
According to Nano’s research, three in four Aussie borrowers are fed up with the tedious mortgage approval process which is seeing them spend up to two months getting a home loan.
Nano co-founder and chief executive, Andrew Walker, claims its fully digital approval process takes minutes, not weeks, and clocks in as the fastest in the world.
“So far, the fastest loan application to unconditional approval - so the end of the application, the credit assessment and the ID process - has been 9 minutes and 41 seconds”, says Walker.
Nano is also making waves on the rates front. With variable interest rates from 2.24% (2.24% comparison rate*), Nano’s Variable Home Loan rates are among the lowest in the Mozo database for buyers and refinancers with 80% LVR.
Throw in zero application, account, transaction, usage or exit fees, and it’s no surprise that Nano took out the Mozo Experts Choice Award for Best New Home Loan of 2022.^ Let’s take a closer look at what Nano’s new home loans have to offer…
OWNER OCCUPIERS
Nano - Variable Home Loan
- 2.24% variable and comparison rate*
- Zero upfront or ongoing service fees
- Free 100% offset sub account
The details:
The Nano Variable Home Loan offers one of the lowest variable rates in town for buyers and refinancers with 75% LVR, and refreshingly it doesn't ask borrowers to sacrifice flexibility or features for the opportunity to save thousands. This feature-packed home loan comes with unlimited additional repayments, free redraw and a free 100% offset account, plus there's zero Nano fees to boot.
Where do I get it? Head over to Nano to find out more >>
INVESTORS
Nano - Variable Home Loan
The details:
Investors looking to refinance their mortgage will be hard-pressed to find a lower rate than this at the 80% LVR tier. Investors can take advantage of a free 100% offset account, free extra repayments and redraw. Plus you'll pay absolutely zero Nano fees too. Available for home loans of up to $2,500,000. Minimum 80% LVR.
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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
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