Everything these days is becoming digitalised and now the finance industry is starting to follow suit as some lenders have recently introduced new systems for how they receive home loan applications. Lenders are now looking to digital applications as a way of receiving critical information. The assessor will receive documentation electronically through the application, rather than having to print pages and go through them manually.
One business who are leading the way in terms of paperless conveyancing is Landgate. They are converting all mortgage documentation from paper to digital and believe this new system will have many benefits for consumers, business and for government. Some of these benefits include reduced settlement time, early identification and resolution of errors before lodgement, and greater transparency of transaction status.
If you would like to know more about paperless home loans, get in touch with me today.