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Lendi Review

Lendi is an online platform helping Australian homeowners find mortgages. We tried it out for ourselves to see how it works.

Logo for online mortgage platform Lendi.

The digital lending industry has expanded over the past few years, with online lenders like Tiimely (formerly known as Tic:Toc), various mortgage fintech businesses and newer players like Athena all promising faster and easier service, or cheaper interest rates.

Lendi is one of the more established lenders. They combine an online application system with the services of a mortgage broker, processing your details and matching you with loans from a panel of over 30 lenders, and pre-qualifying for a mortgage, all online. If you do need help they offer online and phone chat support too.

Our quick verdict on Lendi

Good for
  • Borrowers who are ready to apply for a mortgage
  • Borrowers who need a mortgage in a hurry
  • Digitally savvy customers
Not so great for
  • Borrowers who want to see a wider range of rates and products
  • Anyone still in the research phase and not quite ready to apply
  • Non-digital natives who are hesitant about completing a mortgage application entirely online

How does Lendi work?

1. The simple home loan search

Lendi asks a lot of questions and doesn't show you mortgages right away. First you need to enter some basic details, such as an estimate of your deposit and the value of the property you're going to buy (or an estimate), plus the type of loan you're looking for, and features you're interest in like an offset account or redraw facilities.

Once you enter your phone number and email, Lendi will show you some mortgages that match your needs and eligibility, based on the details you entered.

This is helpful because the loans on offer should match your borrowing needs. They're not showing you rates you'll never be eligible for. But some users might feel uncomfortable putting in personal information before they've even seen a single mortgage.

And if you're looking to quickly compare a wide range of mortgages to make a comprehensive mortgage comparison you might find the options too limited.

The Lendi application dashboard

Here's what Lendi's application looks like after you've entered all your details.

2. Filling out a more detailed application

Lendi gets really interesting when you bite the bullet and enter in all your personal and financial details, as you would for a normal home loan application.

If you're willing to enter information about your income, debts, liabilities, credit cards, and expenses, plus the deposit amount you've saved Lendi can essentially pre-qualify you for a home loan.

Once you verify your identity but uploading identification and documents such as payslips and bank statements you've done a lot of the hard work already.

And if you've done all this and still feel overwhelmed you can chat to a specialist over the phone or online, giving you a human option when you might need it most.

Pro and cons of Lendi's service

Pros

  • Personalised results based on your details
  • The online platform is easy to use
  • Comprehensive and detailed application
  • Lendi offers online chat and phone assistance for people who need extra help

Cons

  • You can't view rates without entering details
  • The platform asks a lot of questions and requires your partner's personal information too
  • I had to re-enter the same details a few times (possibly a minor glitch)

Who is Lendi?

Lendi is an Australian fintech company that launched in 2013 by David Hyman, Sebastian Watkins, Martin Lam and Mark Kalajzich. In 2020, Lendi and Aussie Home Loans merged to form the Lendi Group, with both brands still operating.

Compare a wide range of mortgages from across the market, start an enquiry, or get help from a mortgage broker

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Unloan logo
Principal & Interest20% min. depositInvestment
Unloan logo
Principal & Interest20% min. depositInvestment
Go to site
Product NameUnloan Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.29%
Comp. Rate p.a.6.20%
Minimum Loan Amount$10,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.29%
Comparison Rate
6.20%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$929
Go to site
Macquarie Bank logo
Principal & Interest20% min. depositOwner-occupier
Macquarie Bank logo
Principal & Interest20% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.21%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.21%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$919
Go to site
IMB logo
Principal & Interest20% min. depositOwner-occupier
IMB logo
Principal & Interest20% min. depositOwner-occupier
Product NameIMB Budget Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.17%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.17%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
$914
$2,000-$4,000 cashback
Eligible refinancers can get up to $4,000 cashback when switching their loan to IMB. Loan value criteria applies. Other terms and conditions also apply.
loans.com.au logo
Principal & Interest10% min. depositOwner-occupierOffset account
loans.com.au logo
Principal & Interest10% min. depositOwner-occupierOffset account
Go to site
Product Nameloans.com.au Solar Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.51%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,500,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
6.51%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
Go to site
Bendigo Bank logo
Principal & Interest10% min. depositOwner-occupierOffset account
Bendigo Bank logo
Principal & Interest10% min. depositOwner-occupierOffset account
Go to site
Product NameBendigo Bank Express Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.01%
Comp. Rate p.a.6.14%
Minimum Loan Amount$5,000
Maximum Loan Amount $3,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.01%
Comparison Rate
6.14%
Fees
Application: $0
Ongoing: $10 per month
Monthly Payment
$902
Go to siteMore Info
Ubank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Ubank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Go to site
Product NameUbank Flex Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.41%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
6.41%
Fees
Application: $0
Ongoing: $250 p.a.
Monthly Payment
$900
Go to site
HomeStar Finance logo
Principal & Interest30% min. depositOwner-occupierOffset account
HomeStar Finance logo
Principal & Interest30% min. depositOwner-occupierOffset account
Go to site
Product NameHomestar Star Classic Variable Rate Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.5.99%
Minimum Loan Amount$150,000
Maximum Loan Amount $2,000,000
Maximum Loan Term
Maximum LVR 70%
Loan Redraw FacilityNo
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
5.99%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
Go to site
Macquarie Bank logo
Principal & Interest40% min. depositOwner-occupier
Macquarie Bank logo
Principal & Interest40% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.16%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.16%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$914
Go to site
loans.com.au logo
Principal & Interest10% min. depositOwner-occupier
loans.com.au logo
Principal & Interest10% min. depositOwner-occupier
Go to site
Product Nameloans.com.au Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.06%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
6.04%
Comparison Rate
6.06%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$905
Go to site
Mortgage House logo
Principal & Interest50% min. depositOwner-occupierOffset account
Mortgage House logo
Principal & Interest50% min. depositOwner-occupierOffset account
Go to site
Product NameMortgage House Chameleon Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.04%
Minimum Loan Amount$150,000
Maximum Loan Amount $850,000
Maximum Loan Term30 years
Maximum LVR 50%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
6.04%
Fees
Application: $600
Ongoing: $395 p.a.
Monthly Payment
$900
Go to site
Macquarie Bank logo
Principal & Interest30% min. depositOwner-occupierOffset account
Macquarie Bank logo
Principal & Interest30% min. depositOwner-occupierOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.39%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.39%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$914
Go to site
Mortgage House logo
Principal & Interest40% min. depositOwner-occupierOffset account
Mortgage House logo
Principal & Interest40% min. depositOwner-occupierOffset account
Go to site
Product NameMortgage House Maxx Saver Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.23%
Minimum Loan Amount$150,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.23%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$919
Go to site
Ubank logo
Principal & Interest 5Y Fixed20% min. depositOwner-occupier
Ubank logo
Principal & Interest 5Y Fixed20% min. depositOwner-occupier
Go to site
Product NameUbank Flex Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.46%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.46%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$919
Go to site
Unloan logo
Principal & Interest20% min. depositOwner-occupier
Unloan logo
Principal & Interest20% min. depositOwner-occupier
Go to site
Product NameUnloan Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.5.90%
Minimum Loan Amount$10,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
5.90%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
Go to site
Ubank logo
Principal & Interest40% min. depositOwner-occupier
Ubank logo
Principal & Interest40% min. depositOwner-occupier
Go to site
Product NameUbank Neat Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.16%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.16%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$914
Go to site
Macquarie Bank logo
Principal & Interest20% min. depositOwner-occupierOffset account
Macquarie Bank logo
Principal & Interest20% min. depositOwner-occupierOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.44%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.44%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$919
Go to site
Mortgage House logo
Principal & Interest20% min. depositOwner-occupierOffset account
Mortgage House logo
Principal & Interest20% min. depositOwner-occupierOffset account
Go to site
Product NameMortgage House Savvy Saver Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.24%
Comp. Rate p.a.6.28%
Minimum Loan Amount$150,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.24%
Comparison Rate
6.28%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$924
Go to site
loans.com.au logo
Principal & Interest10% min. depositInvestmentOffset account
loans.com.au logo
Principal & Interest10% min. depositInvestmentOffset account
Go to site
Product Nameloans.com.au Solar Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.58%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,500,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.58%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$919
Go to site
Macquarie Bank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Macquarie Bank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.35%
Comp. Rate p.a.6.26%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.35%
Comparison Rate
6.26%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$935
Go to site