Former broker launches mortgage comparison and search platform

by Julia Corderoy29 Jul 2016

A former Sydney-based mortgage broker has launched a new venture that allows consumers to compare interest rates, research home loans and connect with brokers via an online platform.

Officially launched in May this year, has already seen 2,000 brokers signed up to the platform and attracts 500 page views per day.

Speaking to Australian Broker, Peter Liu, founder of and former lending managing of Wonderful Financial Solutions said the service will fill a gap in market for both consumers and brokers.

“We spent a whole year doing research and spoke to around 1,000 consumers. I was also previously a mortgage broker, so I know from experience what they are thinking from a consumer side and broker side.

“There is a gap between the mortgage broker and the consumer. For many consumers it is difficult to find the right mortgage broker – they don’t know where they can go to find a trusted mortgage broker. But from the broker side, it is good quality lead generation.”

Liu said the platform offers consumers “unique search functionality” whereby borrowers search by broker or company name, postcode, language, loan type or best interest rate. The platform also gives them the functionality to send enquiries to all brokers from selected area.

For the mortgage broker, Liu said it offers an opportunity to market themselves through its  growing volume of website viewers, social media marketing and broker spotlights.

Liu told Australian Broker they are also planning to build a mortgage broker forum on the platform, allowing brokers and lenders to connect, collaborate and help each other.

“We want to build up the functionality further for mortgage brokers so we are working on building up a mortgage broker forum where they can discuss loan scenarios with each other. 

“We also want to encourage BDMs from lenders to come onto the site to help provide solutions for mortgage brokers.

“Our main goal is to help brokers and make their jobs easier while also helping consumers to get their loans settled,” Liu said.