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Full service property agency National Property Buyers (NPB) has announced a new online service which offers rental appraisals to mortgage brokers within 24 hours.
Called NPB Rental Appraisal Express, the platform is designed to make loan applications far more efficient for brokers, said Ashley Koenig, CEO of NPB.
“We want to work with mortgage brokers all around the country and understand the need for them to have their client loan applications approved as quickly as possible. That’s why we’ve committed to providing rental appraisals within 24 hours upon request.”
To receive an appraisal, brokers simply fill out a form on the agency’s website. A property manager will then provide a desktop appraisal of the estimated rental income, Koenig said.
“Rental Appraisal Express was developed and implemented in response to brokers wanting an easier process to go through when a lender requested a rental appraisal for the loan application,” he told Australian Broker.
This means applications go through much smoothly with no delay in sending through supporting documents, Koenig added.
Responses to initial test campaigns have been strong as well. Of the 20 brokers who ran the pilot program, 80% used the service with feedback being generally positive.
“In addition to the fast turnaround, the broker also gets a referral fee if National Property Buyers successfully win the management of the property,” he said.
“Also, unlike many other real estate groups, we will never market other mortgage products to the property owner. This helps the broker enormously as their trailing commission is not under threat, so there’s a lot of wins for them with this service.”
