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The aggregator will introduce a digital option for Connective Select borrowers to sign their home loan offer documents.
Connective has announced that for applications submitted through ApplyOnline, it will be introducing DigiDocs via MSA National for Connective Home Loans (CHL) Select products (funded and serviced by Adelaide Bank), effective tomorrow (1 June 2021).
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The aggregator said that MSA National’s DigiDocs solution – which uses the DocuSign platform – will be available for applications with up to four individual borrowers under the following criteria:
- Purchase
- Refinance
- Construction
- Bridging
- Unlimited securities
The facility will be an “opt-in” function during the application process, and must have a unique email address and phone number provided for each applicant for it to effectively function, Connective said.
The service will attract a $29 fee (plus GST) to be paid at settlement to MSA National, it added.
DigiDocs will not be available under the following application structures:
- Trusts
- Guarantors
- Companies
- Partnerships
- Power of attorney
- Unregistered plans
- Change of name
Connective noted that while ApplyOnline will already reflect these changes, the functionality will not be available until the effective date (1 June).
The DigiDocs solution is not available on in-flight applications submitted prior to the effective date, it added.
According to the aggregator, the availability of the digital signature platform would enhance customer experience by assisting with speeding up the time to settlement.
It said that this would also create more visibility for brokers and their clients during the home loan application process.
Commenting on introduction of the digital signature solution, head of Connective Home Loans Michael Goerner told The Adviser: "This launch is part of our technical evolution to move completely to digital end-to-end loan processing.
"It will help with convenience and time savings for both broker and customer with documents being prepared and returned completed within a matter of hours."
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