Magicbricks, the popular real estate portal, announced on Wednesday that it had taken out home loans before the holiday season. “To enable home buyers to obtain medium- to long-term loans to finance their dream home,” Magicbricks worked with 13 leading lenders in the country. The new initiative will allow loan seekers to compare the best deals and rates available and receive online and offline assistance during the application process, the company said.
The customer can get a home loan from banks such as SBI, PNB HFL, HDFC LTD, ICICI Bank, Bank Of Baroda, Cholamandalam, Hero Fincorp, Sundaram Home Finance LTD, L&T Housing Finance LTD, IIFL, IDFC First, Bajaj Finserv and Federal Bank on Magicbricks platform. The company will also receive a wide range of home loans, including balance transfers and loans against property, the company said.
You can take out a loan on the Magicbricks portal
Magicbricks will be launching a home loan facility in the next few weeks. It will enable loan seekers to make better decision making with the help of tools and expert advice. Loan seekers can first fill out the application form, on the basis of which Magicbricks employees advise them free of charge on the best loan offers for their segment, the real estate portal announced. From picking up receipts at their doorstep to filing them with banks, Magicbricks will help borrowers with a plethora of new services.
“The law firm will then coordinate with the banks when examining the forms or documents for approval and accompany the customer through to the actual payment,” explains Magicbricks. This service also allows homebuyers to take advantage of pre-approved home loans, he added.
The new initiative aims to provide the home buyer with a seamless experience in identifying and drawing on the best loan for the dream home, said Sudhir Pai, CEO of Magicbricks.
“With interest rates now lower than ever before, our Home Loans service will help homebuyers simplify this complex process and intelligently manage budgets with full-stack real estate service providers,” he added.
“Magicbricks’ home loan allows borrowers to use calculators to do EMI calculations, check eligibility, transfer balances, and also get access to key FAQs and articles to understand the intricacies of the loan process. The service also allows loan seekers to view and and offers that are available for their type of loan, along with the benefits and eligibility criteria for all banks, “the company added.
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