by Justin da Rosa | 24 Nov 2017 | from

The home buying process is increasingly taking place online, and that trend has picked up steam following two new industry announcements this week.

Earlier this week, Meridian Credit Union launched two new digital lending platforms for both secured and unsecured lending.

“The launch of our secured and unsecured lending platforms is a real game changer in the personal lending space as it transforms what traditionally could be a highly frustrating process into a much more convenient and transparent experience for our Members,” Bill Maurin, President and CEO of Meridian, said.

The secured lending platform aims to eliminate much of the documentation involved in processing mortgages. The credit union claims applicants will be able to select the mortgage payment they want and secure a rate for 90 days.

“With time being a precious commodity for Canadians, today’s home buyers value and expect a fully digital and intuitive experience, and that is exactly what we are delivering with our platform,” Maurin said. “From the application process to the mortgage closing, everything is easily completed online, so no branch visit is necessary.”