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Remortgage your house in 25 days without talking to a broker.. Now that's brilliant! A great founding story too - The founder was complaining to a guy he was sat next to at a co-working space about how time consuming, expensive, and inconvenient the process of securing a home loan was for his clients. The guy sat next to him says ‘You know we can build stuff that automates all of that, right?'” and Lenda was born.. I hope they kill it!
On Lenda, homeowners start by entering basic information about themselves, including their credit scores, current mortgage, and estimated value of their homes. Lenda’s algorithms then automatically determine which loans that homeowner would likely be approved for. Users can upload their bank documents right on the site and e-sign their applications, so they can avoid the mountains of paperwork that traditionally dominate the industry. And while it still takes about 25 days to close a loan with Lenda (there’s no getting around the basic regulations), van den Brand says that’s much shorter than the industry standard.
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