Settle Easy review: "Uber for conveyancing"

author-avatar By on June 29, 2021
Settle Easy review:

Launched at the start of 2019, Settle Easy has expanded nationwide and claims to be the fastest and most efficient conveyancing provider on the market.

The online platform has ambitions to be Australia’s number one conveyancer in the next two years, by partnering with industry leaders and streamlining the conveyancing process.

Conveyancing is an often forgotten upfront cost when buying or selling a home but is vitally important to ensure your paperwork and contracts are in order.

So what is Settle Easy and how can it help you save money?


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers. 

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
VariableMore details
REFINANCE IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • Refinance only. Fast online application
  • No Nano fees. Free 100% offset sub account
  • Mobile app, Visa debit card & instant payments
REFINANCE IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • Refinance only. Fast online application
  • No Nano fees. Free 100% offset sub account
  • Mobile app, Visa debit card & instant payments
VariableMore details
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • For a chance to win $100K towards your home loan, apply with Athena before Oct 31 & be approved by Dec 15
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • For a chance to win $100K towards your home loan, apply with Athena before Oct 31 & be approved by Dec 15
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
VariableMore details
AN EASY ONLINE APPLICATION

Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)

  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
AN EASY ONLINE APPLICATION

Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)

  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^

Rates correct as of October 23, 2021. View disclaimer.


What is Settle Easy?

Settle Easy is an online conveyancing platform that provides end-to-end settlement services to Australians buying or selling a property.

The platform offers an “Uber for conveyancing”, hosting a community of conveyancers ready to be deployed when a buyer or seller requests one.

Settle Easy says its system also makes life easier for the conveyancer, automating 30-50% of the process.

Launched 18 months ago exclusively to Victorians, the platform has now expanded nationally after recruiting more experts to its community.

“We are pleased to announce that our services are now available to all Australians, no matter which state or territory you live in or how remote the property is,” Settle Easy co-founder and CEO Sam Almaliki said.

“Launching nationally is an important milestone for the business, and our growth trajectory is only going to improve from here, as we continue to partner with major real estate agents, brokers, and developers.”

Settle Easy recently announced it had signed an agreement with Real Estate Industry Partners (REIP), making it the preferred conveyancer for its 4,000 members.

The organisation has 10 of the largest brands in the country among its member base, including Ray White and Harcourts.

“We’re thrilled to be able to partner with Settle Easy, in what will be a hugely beneficial partnership to agents and their customers,” REIP chief executive Sadhana Smiles said.

Settle Easy told Savings.com.au it had been transacting with a couple of hundred users per month in Victoria and expected similar numbers in all major states following its national expansion.


How much does Settle Easy cost?

Mr Almaliki said Settle Easy typically cost less than $900 but there could be further costs for different properties.

“Settle Easy charges a standard professional fee of $880 including GST for residential properties,” Mr Almaliki told Savings.com.au.

“We endeavour to offer our customers certainty with fixed pricing, nation-wide. Depending on the type of property involved, out-of-pocket expenses may vary between $300 to $600.”

He added that while conveyancing was usually one of the cheaper upfront costs of buying or selling a home, Settle Easy could reduce this cost even further.

“There are many costs associated with selling or purchasing a home. In comparison with stamp duty, building inspections and agent fees, conveyancing is actually one of the more affordable services within this process.

“However, conveyancing has historically been more expensive than Settle Easy's fixed professional fee due to antiquated, paper-based processes.

“Now, with a completely digitised process, we are able to provide more efficiencies to our customers and community of conveyancers.”


What are the advantages of using Settle Easy?

Mr Almaliki told Savings.com.au Settle Easy’s online service greatly simplified the conveyancing process for all parties.

“We help make buying or selling property a seamless experience via a secure, user-friendly, fully automated conveyancing platform,” he said.

“Our community services and guides everyone involved in the conveyancing processincluding sellers, buyers, agents, and mortgage brokers.

“Our expert conveyancers look after our customers from start to finish and keep them updated every step of the way.”

As part of its national launch, Settle Easy has offered a discount on its standard fee to all frontline workers, such as medical and emergency services personnel, to thank them for their sacrifices through the pandemic.

“As we battle the coronavirus crisis as a nation, we are pleased to offer a $30 discount on our services to all front line workers,” Mr Almaliki said.


How to use Settle Easy

Buyers and sellers looking to use Settle Easy can access the platform via its website. Settle Easy advertises that its available 24/7 and can be accessed by anyone. The platform says over 96% of its users say they would recommend it to their family and friends.


Photo by Mikhail Pavstyuk on Unsplash

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:

  • The big four banks are: ANZ, CBA, NAB and Westpac
  • The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2020. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
  • The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
  • If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and Savings.com.au

Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.

In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

*Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees and costs savings, such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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Alex joined Savings.com.au as a finance journalist in 2019. He enjoys covering in-depth economical releases and breaking down how they might affect the everyday punter. He is passionate about providing Australians with the information and tools needed to make them financially stable for their futures.

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