Home Loan vertical for NoBroker

Introduction

Nobroker is the marketplace for buying, selling and renting properties. In order to serve the
customer better, we can introduce the home loan vertical, where users can select
properties in their desired location and avail hassle free Home financing. Our target users
will be customers who are looking to rent a property for three years or more and customers
who are looking to buy a house.

The unique value to the customers who are looking to rent is, instead of paying the rent
they can own the property through EMI. And Customers who are looking to buy - is hassle
free home loan availability.

Home loan Market

There are numbers of players who are in Home Loan business and this segment is
considered less risky because loans are secured in nature. But overall loan amount is solely
dependent upon the profile of borrower like annual income, age credit score etc. Difference
between Loan amount sanctioned and actual property price will be down payment, which
borrower has to arrange by himself.

The documents required for home loan are

- Salary slips
- PAN Card
- Address proof
- Property documents

Product positioning

Our target segment will be users with intent of long term renting and buyers and who
haven’t yet identified the property. Our core competency will be listing services and
matchmaking, and home loan vertical will be value added services. All in all, we will be
providing convenience to our users- to select a property and avail finance at the same place.
This way we can increase the conversion rate and monetize the user traffic.

Feature requirements

- Users will be able to check their home loan eligibility by providing their details on the
“check your loan eligibility” form.
- Users will be able to see the list of properties for buying based on their loan
eligibility
- If user has selected a property, he can apply for finance by uploading his required
document on the platform.
- Property owner will be able to approve/disapprove a purchase request
- Property owners can upload property documents if they have approved the request
Risk Factors

- Users can misuse the platform to get long term personal loans
- Property owners can refuse handover of property after user’s home loan gets
approved

Unique value to the Users

- Check loan eligibility

- Shortlist properties based on eligibility
- Online document submission
- Procure the property documents from property owner online

Unique value to the property Owners

- Low opportunity cost

- Increased conversion rate
- Low paperwork

Value to the business

- Multiple source of income

- Product differentiation
- Increase in user satisfaction

Value to the Home Loan vendor

- Higher rate of loan approval

- Can use No Broker platform to estimate value of property
- Increased market size ( renter will be looking to own property)
-