More people starting their home loan journey online
Just as Australians have gone digital for dating, shopping and job hunting, they’re now turning online for one of life’s biggest milestones – buying a home.
CBA’s digital home loan channel, the newest way to apply, has become the bank’s fastest growing application channel.
Executive General Manager of Home Buying, Marcos Meneguzzi said: “We’ve seen strong growth in the digital channel because customers want more flexibility over how they start the process.”
“As Australia’s largest lender, we can see this trend across all types of customers. People are blending digital and personal support to get the experience that suits them best.”
The data shows a broader shift in behaviour, with more people comfortable researching their options, checking their borrowing power and learning what’s achievable before applying for their home loan online.
Younger Australians are leading the shift, with people in their twenties the fastest growing cohort for online home loan applications, while those in their thirties make up the largest share of digital applicants. But it’s not just younger buyers embracing the change, more experienced customers are joining them, with applications from people in their fifties also growing in the same period.
First home buyers’ behavioural shift
First home buyers are showing one of the most striking behavioural shifts in CBA’s digital home loan channel. Despite having never been through the process before, many are now choosing to start their home buying journey online before being connected with a lender.
“Traditionally, first home buyers have preferred a face-to-face experience, but that’s starting to change,” Meneguzzi said.
“Just as they’re comfortable researching and shopping online for everyday purchases, they’re now applying the same habits to bigger decisions like buying a home.
“This isn’t about moving away from our existing channels – it’s about providing choice and additional support through lenders once an application is submitted," Meneguzzi said.
“Some customers prefer to begin online, others want to talk in person. What matters is that they can choose what works best for them.”
CBA’s digital channel allows customers to apply online for a range of products, including the Standard Variable Rate, Fixed Rate, Simple, and Digi Home Loans. Tools like the borrowing power and stamp duty calculators are also helping people estimate costs and feel more confident when applying online.
