A new pre-qualification tool and partnership has been hailed a game-changer for mortgage brokers and homebuyers.
An exclusive agreement between leading mortgage origination firm M3 and burgeoning real estate brokerage Purplebricks (formerly ComFree) will enable homebuyers to gain real-time pre-qualification insight in minutes via Purplebricks.ca.
"M3's partnership with Purplebricks Canada not only demonstrates our commitment and growing leadership in the digital lending space but is a true testament to the power of embedding innovation and technology into our thriving ecosystem to ensure consumers are better informed," said Luc Bernard, Chairman and CEO, M3.
The pre-qualification tool will be available via Purplebricks.ca in Ontario, Manitoba, and Quebec (under the DuProprio brand) and through M3’s family of brands and broker sites.
"Thanks to M3's foresight around innovation, this is the first of several significant building blocks for the organization in the self-directed digital home equity sandbox that will help customers seamlessly take the next step in their homeownership journey," said Andre Boisvert, Chief Technology Officer, M3. "This is a big step for us and that's why we are excited to work exclusively with an industry leader like Purplebricks Canada around this self-serve approach to create more value for customers."
Purplebricks launched as a full-service real estate brokerage in Canada earlier this month as the ComFree network rebranded.
The parent company was founded in 2014 and after success in its native UK it expanded to Australia and the US.
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