Australia-based non banking firm Wizard and GE Money in a joint venture have launched Wizard Home Loans. By the middle of 2008 they are planning to expand their operations to six major cities.
“We want to become the most-preferred home loan provider in India with highly competitive pricing” Egisto Franceschi, Chief Executive Officer, Wizard Home Loans, told newspersons at the launch of operations here on Thursday.
The firm had appointed A.C. Neilsen to study Indian home loan market so that it becomes easy for them to understand the consumer’s preferences. “The study shows that the consumers want, mortgage expertise, competitive pricing and personalized service, among others. Our business model (on franchisee basis) has all these offerings,” he said.
According to the research Hyderabad is a potential market for real estate. “In view of this, we have chosen Hyderabad as the second city to launch operations,” he added. The firm launched its operations in Delhi in September 2007. For the expansion six cities were identified. The company has priced its home loans at 9.99 per cent (on floating basis).
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