Vow Financial, part of the Yellow Brick Road Group, will enable 86 400 to deliver home loans via its network of over 1,200 brokers.
This development is the latest step by the neobanks to launch its home loan offering, pending its full banking licence from APRA.
Chief executive of 86 400 Robert Bell said that the bank was a genuine alternative to the big four and was not offering a stock standard home loan product.
“We didn’t set out to create a standard home loan product – we are building an entirely new approach to the home loan process that will make life easier for brokers and deliver better value to customers.”
“Mortgage brokers have long-driven competition and choice for consumers and we’re excited to be on the panel of lenders of Vow Financial, one of Australia’s largest aggregators,” he said.
This is the latest partnership of 86 400 after announcing partnerships with mortgage application providers Simpology and Loanworks, both of which are currently integrated with the bank.
Yellow Brick Road Group’s general manager Clive Kirkpatrick said he looked forward to working with 86 400 to provide more choices to home buyers.
“86 400 is completely transforming the home loans process, providing more choice to home buyers. We look forward to continuing to work with 86 400 to provide Aussies with better value when it comes to buying a home.”
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).