Clix Housing Finance has partnered with India Mortgage Guarantee Corporation (IMGC) to offer mortgage guarantee-backed home loan products for salaried and non-salaried customers in the affordable housing segment.
Affordable housing is one of the most promising segments in the retail finance space and IMGC has been playing a crucial role in helping lender partners foray into this space with minimal risk and helping home buyers fulfil their dreams of owning a home through higher eligibility and lower EMIs, a joint statement said on Tuesday.
Mortgage guarantee backed home loans will broaden Clix HFL''s coverage of home loan products and customer segments enabling more business while also supporting the flagship mission of Government of India of ''Housing for All by 2022,'' it said.
Speaking on the tie-up, Clix Housing Finance CEO Gaurav Pawra said, with the rising demand in the affordable housing segment, this strategic partnership would support to fulfil ''Early Home Ownership'' dreams of the first-time homebuyers and enable the company to enhance its penetration in the low and mid-market segment besides mitigating the credit risk in case of default.
"Over the years we have worked with our lender partners to create customer centric products. We have a defined execution roadmap with emphasis on driving financial inclusion through this partnership with Clix," IMCG CEO Mahesh Misra said.
IMGC is providing various surrogate products for self-employed customers like banking product, Low LTV product, assessed income product to cater to the needs of varied customers.
