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National Australia Bank is gearing up to launch a new online mortgage product through its UBank brand.
The new product, which will be available at the end of March, is expected to give customers an interactive mortgage experience.
UBank first unveiled its product plans to Smart Property Investment in November last year. However, the lender was forced to delay its launch by several months so that the company could resolve its recent spate of technology glitches and transaction processing delays.
NAB’s group executive of personal Banking Lisa Gray said while previous attempts by the majors to crack online mortgages have failed, she is confident the new UBank product will find a good reception.
Ms Gray said the lender had learned a lot from overseas about “what works and what doesn’t in online mortgages”.
Mortgages are loans that are used to buy homes and other real estate where the property itself serves as collateral for the loan.
Mortgages are loans that are used to buy homes and other real estates where the property itself serves as collateral for the loan.