Online home loans: faster, simpler

Deepak Gupta June 28, 2022
Updated 2022/06/28 at 11:26 AM

When we talk about home loans, we immediately think of a complicated process and with a lot of information that is difficult to assimilate, because what you want is finally to be able to buy your dream home and do it quickly and without unnecessary complications.

The current scenario is online and digital transformation is changing housing credit, simplifying the lives of those looking for credit to buy a home.

Being often seen as a lengthy and complicated process, housing credit, similar to what happened with the purchase of a house, has been undergoing changes in its processes. These changes have been promoted by the digital transformation currently taking place in the financial sector, which was accelerated by the pandemic and the urgency to make it possible for many steps and procedures for housing credit to be carried out remotely.

Mortgage credit has undergone important changes, which have resulted not only in a better experience for the customer, but also in a faster and simpler process.

What has changed in housing credit with digitalization

Firstly, home loan simulators are increasingly refined and focused on user experience, which allows the customer to better understand their home loan simulation and to test different scenarios to find the one that best suits their needs. financial situation.

Another important element for this change is the fact that documents can now be delivered through the digital mobile key, which translates into greater convenience for the customer, who does not have to make unnecessary trips or interrupt his normal working day. Delivery can be made from home, during free time, which makes the credit process faster.

Confirming this trend, the “Casa_PT” study, developed by the UCI in partnership with the Center for Applied Studies of the Portuguese Catholic University, shows that 63.4% of those questioned say that their home loan process took less than 2 months to complete. concluded.

But there are more examples of transformation to a online home loan. The UCI – União de Créditos Imobiliários, an entity specializing in housing credit, allowed those looking for credit to buy a home to meet remotely using video call platforms such as Teams or Zoom.

Another example of the digitization introduced by the UCI was to make it possible to verify identity and digitally sign documents, thus making it possible to start the credit application, fill in the loan application and know the feasibility of remote credit. All this through the devices that customers have at their disposal (smartphones, tablets, laptops), and without having to leave home. In addition, other instant messaging tools (WhatsApp or Messenger) have enabled closer contact with customers, allowing them, at the most convenient time, to clarify doubts or find out more about the status of their credit process.

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