realestate.com.au’s strategic five-year partnership with NAB will give consumers access to a suite of NAB home loans, realestate.com.au-branded loans, as well as loans from other lenders.
Under the terms of the new commercial agreement, realestate.com.au will receive funding from NAB to develop the experience and will earn commissions for settled home loans.
The two companies said they will work together to develop an “innovative end-to-end digital property buying experience.” A spokesperson for NAB elaborated further, saying the partnership is designed to provide customers with another avenue to access home loans alongside existing channels, such as NAB’s brick-and-mortar branches.
According to Tracey Fellows, chief executive officer of REA Group, the partnership will help her company (which is majority-owned by Rupert Murdoch’s News Corp) tap into the domestic mortgage market.
“We will be assisting home buyers throughout their entire property journey, whether it be buying, renting, investing or selling,” she said. “It’s an exciting move for our business and it marks an important step in the evolution of our property-related service strategy as we diversify and build new revenue streams for the company,”
Antony Cahill, NAB’s chief operating officer, praised the partnership, saying it would bring property search and home lending together—a first for the Aussie market.
“We're combining our respective expertise to deliver more to Australian property buyers and create a game-changing experience,” he said in a statement.
REA Group's team will be led by executive director of financial services, Andrew Russell, and NAB's team will be led by executive general manager of consumer lending, Angus Gilfillan.
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