HashChing surpasses $1 billion worth of home loans

HashChing, an online marketplace for pre-negotiated home loans, has announced $1 billion of home loans and signed up Claire Wivell Plater of The Fold Legal to its Advisory Board.

HashChing offers home loans with interest rates below 4 percent and below banks’ standard advertised variable rates.

More than 1200 mortgage brokers have signed up to the platform since launch

Mandeep Sodhi, chief executive officer of HashChing said more Aussies are turning to technology to compare rates advertised by different lenders.

“Customers aren’t just looking to save time. The key to our success is that our offer extends far beyond convenience. We’re able to offer pre-negotiated home loan deals from different lenders with equal features, the same products, but with an even better rate,” he said.

“We’re growing at a rapid pace. One of the reasons we’ve been able to scale the way we have is because we don’t charge per lead, which is a great incentive for them to join.

Atul Narang, chief information officer of HashChing said the broker registration process has been automated to make it really easy and quick by allowing them to digitally sign the contract which instantly activates their account and saves the paper clutter at both ends.

“We have utilised AI capabilities into our platform and our proprietary algorithm learns from the broker behaviour while matching a consumer lead with a broker," he said.

"I am in the process of bringing predictive analytics into our platform to target visitors with a specific home loan rate based on their geographical location and other attributes for a better consumer experience."