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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.

Richard Whitten
Richard Whitten

Updated

Fact checked

Logo for online mortgage platform Lendi.

The digital, non-traditional lending industry has expanded over the past few years, with online lenders like TicToc, 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 players. They combine an 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 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 wide range of rates
  • Anyone still in the research phase or 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. In the time they've been operating Lendi says they've helped Australians settle over $6 billion in home loans.

The company is based in Sydney but has offices in Melbourne, Brisbane and Perth. While the company is privately owned and operated it does have a number of shareholders. The company has an Australian Credit License.

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

Aussie Home Loans Logo

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Applications are subject to approval. Conditions, fees and charges apply. Please note that you need to be an Australian citizen or permanent resident to apply.

Credit services for Aussie Select, Aussie Activate and Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 (“Aussie”) and its appointed credit representatives, Australian Credit Licence 246786. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian Credit Licence 414133 (“RMG”). RMG is a wholly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. Credit for Aussie Activate products is provided by Pepper Finance Corporation Limited ACN 094 317 647 (“Pepper”). Pepper Group Limited ACN 094 317 665, Australian Credit Licence 286655 acts on behalf of Pepper. Credit services for Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 Australian Credit Licence 246786 (“Aussie”) and its appointed credit representatives. Aussie is a trade mark of AHL Investments Pty Ltd ABN 27 105 265 861. Credit and any applicable offset accounts for Aussie Elevate are issued by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL / Australian Credit Licence 237879.

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. ©2020 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

By submitting this form, you agree to the Aussie privacy policy.

After entering your details a mortgage broker from Aussie will call you. They will discuss your situation and help you find a suitable loan.

  • A comparison of home loans from multiple lenders.
  • Expert guidance through the entire application process.
  • Free suburb and property reports.
Aussie Home Loans Lender Logos

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Data indicated here is updated regularly
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Loan purpose
Offset account
Loan type
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Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
2.64%
2.66%
$0
$0 p.a.
80%
Up to $4,000 refinance cashback.
A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).
Go to site More info
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
2.49%
2.49%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
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Athena Celebrate Home Loan - 60% LVR Owner Occupier, P&I
Athena Celebrate Home Loan - 60% LVR Owner Occupier, P&I
2.39%
2.39%
$0
$0 p.a.
60%
A very low variable rate for home buyers with 40% deposits or equity. This rate takes effect from 30 September for new and existing customers. You can get this rate if you apply today.
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Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
2.68%
2.69%
$600
$0 p.a.
80%
$2,000 to $3,000 refinance cashback
Get a competitive variable interest rate with no application fee or ongoing fees. Refinance to an eligible Suncorp loan and get a cashback of $2,000 or $3,000, depending on your loan amount. Other conditions apply.
Go to site More info
ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
2.19%
3.36%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.
Go to site More info
homeloans.com.au Low Rate Home Loan with Offset - LVR Under 60% (Owner Occupier, P&I)
homeloans.com.au Low Rate Home Loan with Offset - LVR Under 60% (Owner Occupier, P&I)
2.44%
2.46%
$0
$0 p.a.
60%
A competitive rate with no application or ongoing fee. This loan is not available for construction.
Go to site More info
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
2.59%
2.60%
$0
$0 p.a.
80%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
Go to site More info
Virgin Money Reward Me Variable Home Loan - LVR ≤ 60% ($750k+ Owner Occupier, P&I)
Virgin Money Reward Me Variable Home Loan - LVR ≤ 60% ($750k+ Owner Occupier, P&I)
2.60%
2.77%
$300
$10 monthly ($120 p.a.)
60%
$2,500 refinance cashback
Buy your home and lock in a low rate for the first two years. Get a $2,500 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 August and settle by 30 October 2020.
Enquire now More info
Tic:Toc Live in 10% deposit Variable Rate - Principal & Interest
Tic:Toc Live in 10% deposit Variable Rate - Principal & Interest
2.39%
2.40%
$0
$0 p.a.
90%
Get a very low interest rate and pay no application, settlement or valuation fees. Apply online for full approval in real time and add a 100% offset account for $10 a month.
Go to site More info
Well Home Loans Balanced Variable - LVR 80% Special Offer (Owner occupier, P&I)
Well Home Loans Balanced Variable - LVR 80% Special Offer (Owner occupier, P&I)
2.17%
2.20%
$250
$0 p.a.
80%
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee. This special discount rate is available for new borrowers who apply and get approved by 30 November 2020. Not available for construction purposes.
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Home Loan Offers

Important Information*
Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I (*now 2.59%, drops to 2.54% on 30 Sep)
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I (*now 2.59%, drops to 2.54% on 30 Sep)

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan. This rate will drop to 2.54% p.a on 30 September 2020 for new and existing customers. You can get this rate if you apply today.

More info
Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

More info
Logo for HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)

Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.

More info
Logo for ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)
ME Flexible Home Loan Fixed with Members Package - 2 Year Fixed Rate LVR ≤ 80% (Owner Occupier, P&I)

Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.

More info

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