Shhhhhhhh!!!! This is how two of their friends shake up a trillion dollar marketplace
There’s a silent revolution sweeping the $1.5 trillion dollar Australian mortgage market – and it’s been started by two friends with a secret.
Mandeep Sodhi and Atul Narang are also known as Mortgage Whistlers. HashChing – an online marketplace for home loan deals that are so good – the banks don’t want you to know about them. HashChing offers home loans with interest rates below 4 per cent and well below banks’ standard advertised variable rates.
In just a few months, more than 1200 mortgage brokers across the country joined the platform to offer their customers hot deals. Already, over half a billion dollars in loans have been made, and more than 21,000 people have applied for home loans.
HashChing is a Sydney-based startup that operates out of Tyro FinTech Hub. It recently raised $1million, and attracted several high-profile investors.
HashChing is revolutionizing the way that the mortgage industry operates. It seeks to disrupt the mortgage industry further by offering transparency and an on-demand service that is unheard of in this sector. HashChing works in partnership with all banks and providers that offer mortgages. This includes credit unions, nonbanks, and building societies.
“If you think you’re getting a good deal on your home loan, it’s time to think again,” said Mr Sodhi.
“At a time when everyone is conscious of the interest rate their paying on their home loans – we’ve created a way to deliver the ultimate power to the consumer.
HashChing founders (L-R) Atul Narang & Mandeep Sodhi
Mandeep, a bank worker, was offered a discount on the home loan rate by one of the major banks. Atul, who was also searching for a home loan was able find a better rate at his bank through a trusted broker. He was able negotiate a better deal.
HashChing allows you to rate and evaluate brokers, and helps you to build a trust network with local brokers.
“Consumers can select the home loan deal and submit their postcodes which automatically notifies the HashChing partner broker with highest rating servicing that area. They get in touch with the consumer to directly service the selected deal,” Mr Narang said
“HashChing is also better than other comparison websites in the market – because they just loop you back to the banks’ websites for the standard rack rate deal.”
About HashChing HashChing, an innovative FinTech company that connects Australians with FinTech companies, is called HashChing. pre-negotiated home loan deals. HashChing allows users post questions about home loan. Financial experts answer these questions to help users make informed financial decisions. HashChing has already received more than 1,900 applications to home loans totalling $987 million.