Do you have trouble understanding the home loan process? Then you’re not alone.
According to the PropertyGuru Consumer Sentiment Study H1 2020, only 18% of Singaporeans said that they were familiar with the home loan process.
In fact, almost 50% of respondents in the survey said they were not familiar with the paperwork required to finance their home. 2 in 5 Singaporeans were also not aware that they could refinance their home loans to reduce their monthly repayments.
To help home buyers make confident decisions with their home financing process, PropertyGuru has launched PropertyGuru Finance, an online mortgage marketplace that offers financial services such as home loan comparison rates, digital tools that help home buyers make smart financial decisions, as well as independent advisors that can offer their expertise.
Announcing the launch, Bjorn Sprengers, Chief Marketing Officer and Head of Fintech, said, “Over the years, we have learnt 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. More often than not, the process leads people to paying more than they should. Its complexity may even cost them the opportunity to own their dream home. As market leaders, we have a responsibility to help resolve these pain-points and much like PropertyGuru helped Singaporeans find their homes online, we now use technology to improve the process of how people will finance their homes.’’
Paul Wee, Managing Director of Fintech, explains, “As Singapore’s largest property marketplace, we have access to the best rates offered by banks. Because we are independent from these financial institutions, we can offer unbiased, personalised, in-person advice during and after bank opening hours. Our loan advisors collectively have more than 100 years of experience.’’
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