Ravi Chandran
Life-Planning Platform ‘Up’ And iCompareLoan Partner To Make The Dream Home Ownership Easier To Achieve
Up (www.upplan.sg), the revolutionary life-planning solution, today announced that it has partnered iCompareLoan, the leading mortgage-comparison portal to provide better mortgage planning for home-owners and buyers. Beginning Feb 27, users will be able to access the mortgage tool on the Up platform.
Dream Home Ownership plans now easier for over 70% of Up users are home-owners
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The collaboration addresses a gap in the market. It provides users with the ability to make better, more well informed, decisions regarding their property loans- by adding the context of their broader financial plan, where investments, insurances, savings, future expenses and more are considered. Making it easier for users to plan and stay ‘on-track’ with their dream of owning a home. Currently, over 70% of Up users are home-owners.
Up users can take action on the plans they build in the platform by comparing mortgage options, and exploring saving opportunities through mortgage refinancing. They are able to see and understand the true short and long-term impact of refinancing; explore how best to reinvest the savings they gain; or build a plan for buying their first home or an additional property.
Laurent Bertrand, founder and CEO of BetterTradeOff, shares, “We developed Up to allow everyone, regardless of financial acumen or net worth, to have an easy-to-use, visual tool to make better financial decisions. With the incorporation of partners like iCompareLoan, we now also give people the means to act on these decisions in a way that’s seamless with the planning process. There are more partnerships to come, as we look to make Up a tool that people can use to plan and manage all aspects of life.”
Dream home ownership requires having right information in fingertips
Paul Ho, founder of iCompareLoan, shares, “We developed the Home Loan Report ™ to help our consultants serve clients in a more professional manner, by incorporating mandated rules and regulations into property financing calculations to make them more relevant and comprehensive. Ultimately, assuring people have the right information to make better decisions regarding their property financing. Our partnership with Up takes this further, by allowing people to assess their mortgage options within the context of their total financial plan, while providing Up users with critical mortgage planning and analysis tools.”
The Home Loan Report tool is a Singapore’s first one-of-a-kind analysis platform that provides latest updates of detailed loan packages for dream home ownership and helps property agents, financial advisors and mortgage brokers to analyse home loan packages for their clients and give unbiased home loan / commercial loan analysis for their property buyers and home owners.
As buyers of the future grow more discerning, agents cannot afford to just rely on their personality or their experience to attract clients. Buyers and sellers of the future will increasingly rely on agents to have knowledge on property finance calculations and this is where the Home Loan report comes in.
This trademarked tool is a one-stop solution that can help deliver a detailed home loan report in 3 minutes flat.
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About BetterTradeOff (BTO)
FinTech start-up BetterTradeOff has developed a revolutionary online solution that allows people to take control of their future and unleash new possibilities through better financial decisions.
Named ‘Up’, the platform dramatically simplifies the financial planning process, providing people with a do-it-yourself tool for exploring and understanding different financial choices and outcomes. Interactive, highly visual, and fun to use, ‘Up’ makes it easy for people to see and understand the impact of each decision they make, while exploring a wide range of financial situations, including family composition; life events (such purchasing a new home); expenses and income; CPF, savings and investments (including tax implications); education costs and financing; insurance and debt.
In 2018, BetterTradeOff won the Global FinTech Hackcelerator, which was organised by the Monetary Authority of Singapore (MAS). The company also won the “DIAmond Award – Most Innovative Start-up” at the most prestigious InsurTech event in the world, the DIA Conference 2018.
For more information on BetterTradeOff, please visit: https://bettertradeoff.com.
About iCompareLoan
iCompareLoan is a Personal wealth Portal and Mortgage Loan broker that educates users on personal finance, helps property buyer get new home loans, home owners refinance existing home loans and SMEs obtain Business loans for expansion. Their experienced mortgage consultants help people assess their Property Portfolio to achieve or obtain optimal property loan structures, cheaper financing costs, equity from their property, optimise stamp duties via decoupling or simply pledge their property asset for business loans. They help customers compare, analyse and sieve through complex regulations to get the best fit home loans using iCompareLoan’s proprietary Home Loan Report ™.
For Property Agents and Advisors, iCompareLoan’s Home Loan Report ™ incorporates regulations and data from HDB, SLA (Caveats), URA, CPF, MAS, IRAS, MND into the property financing computation and calculations with up-to-date bank rates for a detailed, comprehensive and yet, easy to understand, analysis. Successful property agents, financial advisors and mortgage brokers use the Home Loan Report ™ to close deals faster and more professionally. Traditionally financial advisors have shied away from providing property financing and mortgage planning for their clients due to the complexity of regulations- creating a gap in financial planning for their clients (as about half of a family’s net worth is from property on average). With iCompareLoan’s Home Loan Report ™ financial advisors are able to generate a detailed home loan report in 3 minutes, helping them better manage their client’s wealth.
