Morning Briefing: IBuyNew teams up with lawlab

Online property marketplace iBuyNew Group Limited has joined forces with national conveyancing service lawlab... Bankwest launches new loan product...

IBuyNew teams up with lawlab
Online property marketplace iBuyNew Group Limited has joined forces with national conveyancing service lawlab to help progress technology it has developed to allow home buyers to secure property online without face-to-face meetings.

IBN CEO Mark Mendel said the day when all real estate transactions were completed electronically was fast approaching with IBN already processing its first digital contracts for off-the-plan property.

“It’s only a matter of time before all transactions will take place electronically and people will be securing their preferred property online as they do now with most other goods and services,” he said.

Mendel said IBN had received a great response to its recently launched online reservations system which allows home buyers to reserve a property 24/7 via the internet.

“We have partnered with lawlab for our online reservation system and are using their collaboration platform Rundl for electronic conveyancing,” he said.

“Rundl enables us to make the exchange process more seamless and keep communication streams open for all parties in the transaction.”

Bankwest launches new loan product
Bankwest has launched a new home loan product, Equaliser Home Loan, available to both owner occupiers and investors.

The new product offers a fixed discount off the combined average standard variable rate of three major banks ANZ, NAB and Westpac).
  
The discount for three years is 1.35% p.a. for owner occupiers and 1.00% p.a. for investors and a floor rate of 2.5% p.a.B

Bankwest general manager of broker sales Stewart Saunders said, “The banking sector needs to continually innovate and adapt to customers' needs in our fast changing world. Our new Equaliser Home Loan is designed to give brokers and customers a competitive home loan option they have been asking for.
  
“With so much uncertainty in the markets – on a state, national and international level – this new home loan gives people peace of mind they’ll be getting a competitive rate.”