Announcing the launch of Winning Quote, a post-GFC online lending environment bringing borrowers and lenders together, providing home loan discounts of up to 0.85%

Announcing the launch of Winning Quote - a post-GFC online lending environment bringing borrowers and lenders together, providing home loan rate discounts of up to 0.85%

What Winning Quote is:

Winning Quote, an Australian first, is an online lending platform enabling faster, easier and more transparent loans. It provides a simple, convenient, no-fee way for borrowers to secure a competitive home, car, personal or business loan, online.

Using an innovative loan matching and auction system that brings borrowers and lenders together online, Winning Quote can facilitate loans for home buyers at discounts of up to 0.85% off the standard published rate.

Uniquely, by also having an inbuilt due diligence functionality that evaluates a borrower’s credit worthiness and loan serviceability, the Winning Quote system enables lenders to source high quality leads, an important plus in this post-GFC lending environment.

How Winning Quote works:

Borrowers simply enter their loan requirements and relevant personal details into the Winning Quote website at www.winningquote.com.au .They only need to fill out one, online loan application form. These details are stored securely and can only be viewed by Winning Quote’s primary panel of lenders. The borrower’s loan application remains accessible to lenders on the Winning Quote system for seven days, however borrowers can start receiving offers almost immediately.

Lenders review each borrower’s application and respond with a pitch – or quote - for the borrower’s business. The borrower is free to select their choice of lender; in other words, it is the consumer who selects the winning quote.

Once the borrower accepts a lender’s online quote, the loan application is handled directly between borrower and lender. And as the lender already has relevant information about the borrower via the Winning Quote application form, the loan approval process is accelerated, and can be finalised in as little as 48 hours.

If none of the primary lenders on Winning Quote’s panel put forward a quote for the borrower’s business, or the borrower does not accept any quotes received, Winning Quote will forward the borrower’s application to a selection of mortgage brokers to see if they can provide a loan suitable to the borrower.

The Winning Quote service is free of charge to borrowers. Lenders pay Winning Quote a once-off fee for accepted loans, and there are no trailing commissions paid.

Competitive online loans for home, car, business or personal use:

The Winning Quote system is fast, convenient and very transparent as borrowers can see firsthand which lender offers them the best deal. Through this process, the borrower can achieve a very competitive rate on their loan – be it for a home, car, investment, business or personal use.

Winning Quote’s primary panel of lenders ranges from banks like St George to smaller specialised lenders like MyRate who are committed to providing competitive service and quotes if the loan amount and the borrower’s credit worthiness fit their parameters.

Convenience for lenders with inbuilt due diligence:

The Winning Quote service offers not just advantages to borrowers, but lenders too.

By interfacing with Veda Advantage, an external credit referencing agency and online loan security evaluator, Winning Quote is able to provide lenders genuine leads with optional real time information on borrower credit worthiness and loan serviceability. In this way, the Winning Quote system uniquely provides a level of due diligence on loan applications, helping lenders to quote confidently on them. This not only accelerates the approval process, it also reduces administration costs. These savings may be passed on to borrowers as rate discounts.

New to Australia, already big overseas:

The Winning Quote method of obtaining a loan may be new to Australia but it is established and popular overseas.

Winning Quote co-founder and Director of Sales and Strategy, Mr Nandan Keerthi says, “Our entry into the finance market is ground breaking and revolutionary - a technological attempt to streamline the borrowing and lending process online.

“A service like ours has not been offered in Australia before. Though there are companies offering some of our activities in isolation, only Winning Quote is a true start-to-finish loan and finance system connecting borrowers with lenders and brokers – and providing due diligence at the same time which is so important in this post-GFC environment.

“Our type of online lending platform is well established in the United States, where the leading provider has already arranged more than $US180 billion in completed loan transactions. We anticipate Winning Quote being taken up enthusiastically in Australia too, by borrowers and lenders alike. It offers real benefits to both parties by providing a secure and convenient connection between them, allowing faster loan approval times, and most importantly - due to the lower costs involved – enabling more competitive rate loans”.

Winning Quote is owned and operated by Sprout On Web Pty Ltd, based in St Leonards, NSW.

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Media - for further information please contact:

Mr Nandan Keerthi, Director Sales and Strategy, Sprout On Web Pty Ltd

P: 02 9640 0331 | Mob: 0432 130 012 |Email: nandank@sproutonweb.com