PropertyGuru launches its Mortgage Marketplace ‘PropertyGuru Finance’

March 12, 2020
Share this Post: 

Singapore-based PropertyGuru, recently announced its expansion into home finance, with the launch of its mortgage marketplace, ‘PropertyGuru Finance’. The proptech company’s goal is to help users save money and experience a smoother journey in financing their home. 

PropertyGuru Finance is promising to offer the best mortgage rates, digital tools that will help property buyers make smart financing decisions, and independent, personalized advisory for better long-term benefits. 

Although Singapore is one of the most property savvy markets in Southeast Asia, a study conducted by the company indicates that while 70% of Singaporeans will ‘start saving before looking for a home to buy’, only 18% are ‘very familiar with the home loan process’, nearly 50% are not familiar with the paperwork required to apply for a home loan, and 2 in 5 Singaporeans are not aware that they can refinance their home loan consequently saving and save on monthly costs.

“Over the years, we have learned that the excitement of finding one’s dream home, is often lost when it comes to financing it. The mortgage journey is full of uncertainty, doubt, and inefficiency," said Bjorn Sprengers, Chief Marketing Officer and Head of Fintech.

"Our aspiration is to enable Singapore’s first digital straight-through mortgage application by 2022 and the first fully digital property transaction by 2025,’’ added Sprengers.

PropertyGuru’s entry into home finance is a key milestone in the company’s strategic evolution from a property marketplace to becoming a ‘trust platform’ in Southeast Asia. 

Working with relevant industry stakeholders, the company will offer digital home financing services such as instant in-principle approval, instant offers, refinance checks, to enable property buyers to consume home financing services conveniently, securely and instantly online.  

Paul Wee, Managing Director of Fintech, explains, “Because we are independent from financial institutions, we can offer unbiased, personalised, in-person advice during and after office opening hours. Our loan advisors collectively have more than 100 years of experience.’’ 

He adds, “PropertyGuru’s technology allows us to uniquely offer a range of smart tools for every step of the home finance journey, from understanding loan eligibility and comparing loans to easily applying for multiple loans online. We use PropertyGuru’s proprietary data to constantly monitor home valuations and interest rates to help property owners optimally time moments of refinance and enjoy full benefit from capital gains.’’ 

With PropertyGuru Finance, the company extends its partnership with its clients (real estate agents). PropertyGuru will act as an agent’s ‘personal mortgage assistant’ enabling them to offer their clients (property seekers) convenient access to all best available properties and home finance options under a single roof. 

SOURCE PropertyGuru
Edited by Gordana Davila

 

March 12, 2020

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Short Term Rentlas Airbnb Oyo Jll
Short Term Rentals Roundup: Airbnb Appointment, OYO IPO and a New Rival

There have been a few important pieces of news coming from the world of short-term and vacation rentals this week....

Read More
Zillow Housing Data
Zillow in Legal Battle for Cheap Local Housing Data

American real estate giant Zillow is backing proposed legislation in Michigan which would significantly reduce the cost of procuring property...

Read More
Prosus Trying To Buy Cian
Prosus Owned Horizontal Avito Reportedly Close To Acquiring Leading Property Vertical Cian

According to reports in Russia, leading horizontal player Avito is trying to buy leading real estate marketplace company Cian.ru. According...

Read More
Adevinta Fintech With Marketplaces Report
The Future is Pairing Fintech with Marketplaces According to New Adevinta Report

The returns of fintech enabled marketplace businesses are far superior to those of marketplaces without fintech capabilities according to a...

Read More

Popular News