A RelieCheck is a snapshot of your previous 12 months of banking transaction history. It is used by brokers and lenders to speed up and streamline loan applications resulting in less paperwork and a quicker decision about loan approval.
We have used our extensive lending experience to build a proprietary Intelligence engine called Sherlock that retrieves your bank statement data from one of many data providers that provide us access to your banking institution.
As part of tighter government regulation for borrowing money, loans now require your broker and lender to make an increased level of inquiry into your banking transaction history as part of the loan approval process. A number of these inquiries directly relate to your ability to repay the loan over time.
A RelieCheck is the most important part of the enquiry process as the data shown on your transaction history will show your income (and the regularity to which you are paid) and your total living and lifestyle expenses, both of which are imperative in determining if the loan you have applied for is suitable for you.
No. We will download all of your transaction data electronically as part of the RelieCheck process.
We access your transactions electronically via our secure portal which connects directly to your internet banking from you your nominated financial institution.
Yes it is. We use 256 Bit encryption over multiple firewalls and levels of entry to secure your information. We NEVER keep your internet banking credentials and they are immediately deleted after you enter them into the portal to provide access to the data transfer from your banking institution. If you need to get a second RelieCheck, you will need to re-enter your banking credentials again.
Yes you can. Simply ask your Broker or Lender at the time of using the portal to provide you with a copy of your report. You can only get it at the time of application as we do not maintain your data transactions after the single use of the information at the time of your application.
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