New Digital Platform Featured on The Daily Hive!

Despite last years’ global pandemic, home sales in Metro Vancouver were 24.6% above the 10-year sales average for November. This dramatic increase in sales alludes to the fact that a higher number of people are applying for mortgages within the province.But the process of applying for, and securing a mortgage, doesn’t look the same for everyone. This, coupled with frustrations, inefficiencies, and delays caused by the inefficient way that customers are traditionally dealt with, led licensed mortgage broker Amin Eskooch to co-launch a private lending platform: WiiBid.

With proprietary auction technology and machine learning, WiiBid connects borrowers directly with private lenders, allowing consumers to compare mortgage bids, exchange documents, and maintain higher data security — all while saving time and money from the comfort of their home.

The technology allows borrower to compare and pick best rates without external intermediation. That being said, customer experience is always top priority for the company and there are many help tips, love chat, YouTube videos guides, email, and phone support provided as needed. The solution has been tested and proven to be easy and intuitive as most users are able to complete their application to join the auction in under 10 minutes.

“Our system provides notifications and ensures customers are aware of the status at every step of the way, so they are not left wondering or waiting for a lender or their broker to answer their phone calls” Eskooch told Daily Hive.

WiiBid’s innovative mortgage technology and their private lender’s loan capacity of over $1 billion, empowers borrowers to find the best rates. By putting consumers in the driver’s seat and allowing lenders to bid for their application, borrowers save the money that would typically cover other mortgage application fees. Some of the use cases seen by former clients include financing, debt consolidation, home equity loans, renovation loans, and education loans. Moreover, real estate investors have had the opportunity to leverage their existing home equity to purchase new properties to expand their real estate portfolio as they build and grow their wealth.

According to Eskooch, the amount that WiiBid allows you to save in fees varies depending on the size of the loan and its risk criteria — but it is in the region of thousands of dollars. In addition to this, you can also save time; WiiBid allows consumers to close their mortgages 75% faster!

Ultimately there are a variety of reasons individuals need access money, and mortgage solutions offered at WiiBid are flexible, unique, as top lenders in town offer flexible terms and competing offers best mortgage rates.

“Though private lenders finance approximately 10% of Canadian mortgages, they are not as well known as banks, and they don’t necessarily have big branch offices on every street corner” Eskooch added.

WiiBid is one of the top and fastest growing FINTECH solutions, offering rapid innovation through partnerships with Academia, thought leaders, investors, technology and security experts, and major support from the real-estate community partners and affiliates. The community effect created by WiiBid “is truly a win-win for all parties involved!”

Read the full article featured on the Daily Hive

Interested? Learn More About Borrowing With WiiBid!