One of Canada’s largest mortgage lenders has announced a product that it hopes will shake up the market. CIBC has launched its standalone app that allows customers to apply for, negotiate and receive approval for a mortgage with just a few taps of a smartphone.
Customers can also communicate with a specialist mortgage professional via the app and all documents are created and shared digitally using secure file sharing technology.
It remains to be seen whether the lender can convince Canadians to make their largest purchase in this way.
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