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A Quick Look at 3 Innovative Startups Trying to Improve the Mortgage Buyer Journey

The lending industry is changing, with new companies emerging set to disrupt the landscape with their innovative approaches to fintech.

In this article, we look at 3 of the best companies set on providing an incredible level of value for their customers.

Lendi Australia

Lendi is a fintech startup based in Australia that was founded in 2013. Their website claims to have helped Australians settle over $6 billion in house loans since they’ve started up.

The company’s headquarters are in Sydney, but it also has locations in Melbourne, Brisbane, and Perth. The firm is privately owned and controlled, however there are a few stockholders.

What’s the deal with Lendi & how does it work?

It gives users an easy way to search for a house loan

Like with most mortgage applications, you have to provide some basic information, such as the amount of your deposit and the value of the property you want to purchase (or at least an estimate), as well as the type of loan you require and any additional features you desire, such as an offset account or redraw capabilities.

They ask a lot of questions and don’t show you the available mortgages right away.

Lendi will show you various mortgages that meet your requirements and eligibility when you submit your phone number and email (based on the details you entered).

So they do a good job of filtering results that only fit what you qualify for.

With that said, some customers may be hesitant to enter personal information before seeing a single mortgage.

Of course, if you’re wanting to compare a lot of mortgages fast, you may find Lendi pretty restrictive.

With that said, Lendi can basically pre-qualify you for a house loan if you’re prepared to submit information about your income, debts, liabilities, credit cards, and spending, as well as the deposit amount you’ve saved.

If you’ve tried everything and still feel overwhelmed, you can talk to an expert on the phone or online, offering you a human option when you need it the most.

LendingTree USA

LendingTree began as Lewsburg Ventures in 1996 and was renamed CreditSource USA shortly afterward. The firm was renamed LendingTree in 1998, and it was one of the first online markets to provide consumers with access to various lenders through a single application.

How Does LendingTree Work?

You’ll have to create an account, fill in all requested information and submit documents to validate your income.

Once all that is approved, you will be able to see the loans that are available to you.

LendingTree, is an excellent option if you want to compare rates from a variety of lenders without having to fill out a slew of separate applications. However, in order to locate the ideal lender for you, you’ll need to look into the particular costs and conditions of each suggested lender on your own.

LendingTree has partnered with some of the country’s most reputable lenders, giving it the ability to offer a wide range of personal loan options. One of the main benefits is that you can locate a loan even if your credit score isn’t perfect, because LendingTree works with lenders that accept credit scores as low as 600.

Roshi Singapore

ROSHI is a new company designed to give Singapore a home loan marketplace that links users with mortgage brokers who then negotiate better rates from lenders, whether they’re taking out a new loan or renewing.

Borrowers can use a star rating and review system similar to Grab and Airbnb to score the services of their allocated mortgage broker.

While most home loan comparison sites just show promoted bargains available directly from banks, lenders, and other financial institutions, ROSHI aims to go one step further by offering deals accessible through mortgage brokers and partners.

Roshi is seen as a new disruptive service in the space, allowing you to communicate directly with lenders on their platform.

Using The Platform

Like other lending platforms, you fill in the necessary data required to run a credit check and then are presented with offers from brokers.

But you are connected directly to the brokers as the offers come in, giving you the opportunity to communicate with them or move forward as you wish.

Most brokers have you leave the platform to start the negotiation process, but with ROSHI you can do it all on their site.

For more information, you can visit the ROSHI Homeloan Markteplace.