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The aggregation group has launched a new tool that streamlines loan scenarios and enables brokers to calculate clients’ borrowing power in real time.
Lendi Group, the parent company of the Aussie and Lendi brokerage brands, has launched a new tool for brokers that aims to help them deliver faster, more accurate lending advice.
The ‘Sandbox’ is a Salesforce-integrated tool that streamlines loan scenarios for brokers by providing lender-specific servicing results, real-time calculations, automated data population, and the ability to model and compare multiple transaction scenarios.
The tool also accounts for lender-specific policy nuances, such as how income is shaded differently across lenders, age-based eligibility criteria for benefits like Family Tax Benefit or child support, negative gearing, and variable treatment of liabilities.
It updates borrowing power calculations as information is entered, giving brokers and customers real-time feedback, while providing transparency into how calculations are made, showing assessment buffers and lender-specific repayments personalised to the customers’ scenario, Lendi Group said.
Sandbox doesn’t require brokers to have an opportunity or application open, instead enabling them to workshop scenarios without commitment. All scenarios can be saved for future reference and can be ported over to the application platform with input data auto-populated (should a borrower wish to proceed with the scenario presented to them) and lender calculators completed and downloaded.
The product launch to the group’s 1,300 brokers follows more than six months of development with over 120 brokers from the Aussie and Lendi brands taking part.
Sandbox now includes all lenders on Lendi Group's panel.
Speaking to The Adviser during the development stage of Sandbox, Lendi Group chief product officer Travis Tyler said the product innovation was partly born from a need to simplify the mortgage application process.
“We wanted to create a place where you can easily do scenarios. There’s no such thing as a vanilla mortgage and there’s no such thing as a vanilla customer. There is always something quite different,” he said.
“[The] wife might be self-employed, or [the] husband’s going on paternity leave. So as they’re going through, rather than having to do a sequential application, they’re able to test different scenarios in the moment.
“We don’t want our products to get in the way of our brokers connecting with their clients. Because at the end of the day broking and home ownership is a people based business and our brokers are going to remain at the centre of that.
“We’ve created a very simple product that helps, within a matter of minutes, actually understand what the customer needs, gives them a view of their borrowing power and who’s the right lender for them.”
Future developments of the servicing Sandbox are planned in the coming months, including transaction modelling, assessment capability, and AI integration.
Speaking after the product launch, Tyler said: “Sandbox empowers brokers to work smarter, build trust faster, and guide customers toward the right solution with more confidence than ever before.
“We built the servicing Sandbox hand-in-hand with our brokers which is why the first iteration of this product is so highly anticipated internally.
“This is about technology doing the heavy lifting, so brokers can focus on people.”
Sweeping changes at Lendi Group
It has been a transitional period for Lendi Group.
Last month, it revealed that it had made Aussie its primary broking brand, with hundreds of brokers and broker clients moved from Lendi to Aussie.
While hosting its Thrive25 conference last week (25 March), it announced that the Aussie brand was pivoting from a linear mortgage broking business to a platform that helps Australians ‘Find, Buy and Own’ property, bringing in conveyancing services (launched in partnership with e-conveyancing provider Settle Easy), in-house buyer’s agents service (Aussie Buyer’s Agents), and setting up referral partnerships with real estate agents (Aussie for Agents).
To embed its new vision for Aussie, Lendi Group has also confirmed that Aussie will be the major sponsor of reality TV show House Hunters, which is coming to Australia later this year.
[Related: Aussie pivots to become ‘fully integrated property ecosystem]
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