OwnHome partners with NextGen to accelerate broker market expansion

Non-bank lender OwnHome has partnered with NextGen to implement the ApplyOnline^® platform, a significant step in the lender’s expansion through the Australian broker channel.

The partnership with NextGen, Australia’s leading mortgage origination technology provider, gives OwnHome the infrastructure to deepen relationships with aggregators and broker groups as it scales its solution for removing deposit barriers to homeownership.

OwnHome offers lending solutions providing up to 100% LVR without lenders mortgage insurance, making homeownership more accessible to creditworthy Australians who lack a 20% deposit or access to family support.

“We’ve seen incredible demand from brokers and their clients who are ready to buy but don’t have access to a 20% deposit or the Bank of Mum and Dad. NextGen’s platform gives us the technology foundation to meet that demand at scale,” said James Bowe, Co-Founder, OwnHome. “ApplyOnline and the Financial Passport bring broker-submitted applications into OwnHome with verified data from day one. That’s exactly what Slate – our AI credit decisioning platform – needs to deliver decisions in minutes rather than days, with credit policy applied consistently on every application. Together, it means brokers get certainty for their clients, faster.”

“We work with over 60 lenders across Australia, and it’s always exciting to partner with innovators like OwnHome who are actively removing barriers to homeownership. NextGen’s strength is in working nimbly with emerging lenders to help them scale their point of difference through the broker channel. We’re proud to be a critical partner in OwnHome’s growth strategy,” said Mike Ponsonby, Head of Lender Partnerships, NextGen.

OwnHome will leverage ApplyOnline’s loan lodgement capability, allowing brokers to submit applications directly to OwnHome with seamless data and document transfer into OwnHome’s loan origination environment. This streamlines the application process for brokers supporting clients on their path to homeownership, with brokers earning commission on both the OwnHome deposit loan and the paired traditional mortgage.

Central to the solution is NextGen’s Financial Passport, which OwnHome has adopted to differentiate not only in its proposition but in how customers and brokers share financial information. The Financial Passport includes Open Banking, Access Seeker Credit Report and NextGenID for digital verification of identity. The use of verified Consumer Data Right (CDR) data enhances OwnHome’s origination and assessment processes end to end, from the point of lodgement through to credit decisioning, ensuring the strongest possible application is ready for submission.

Verified data from the Financial Passport flows directly into Slate, OwnHome’s AI credit decisioning platform. Slate applies OwnHome’s credit policy to every application the same way, every time, and returns decisions in minutes rather than days. The pairing of NextGen at the front of the application and Slate at the point of decision is what allows OwnHome to scale its partnership with brokers and eliminate friction from the broker experience.