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New online mortgage marketplace offers easy, secure house financing solutions

WiiBid is helping borrowers win the bidding wars with fast mortgage offers in a hot market
WiiBid helps you find a lender by submitting an online application.

Getting a home financing mortgage can be a stressful, time-consuming, and paper-heavy process.

A Vancouver-based company, WiiBid, is rapidly growing as consumers’ favourite destination for online, one-click mortgages. Borrowers can access the very best mortgage rates in one seamless system that turns the current home financing industry on its head.

WiiBid is now the largest digital mortgage marketplace, where borrowers gain easy and fast access to the best financing deals possible.

Instead of applying directly to banks and alternative lenders one by one, WiiBid centralizes the mortgage shopping experience, so users can confidently shop around with a single application. Borrowers gain end-to-end transparency on the process while lenders bid for their business at the WiiBid Auctions.

It’s a shakeup that has been long overdue, WiiBid founder and chief executive officer Amin Eskooch says.

“Under the current system, the best interest of the consumer is not evident,” Eskooch says.

“The idea behind WiiBid is to leverage technology to save consumers significant time, increase their options, and save them tons of money. The automation allows lenders to offer better rates, and since lenders compete against one another at the auction, consumers get to choose their best option.”

The WiiBid process is simple. Borrowers start by filling out an easy application for a mortgage loan.

“We went through six iterations of the platform to make sure that anyone can do it in under 10 minutes,” Eskooch says.

Once it has been reviewed by WiiBid’s team to ensure it’s error-free, all the lenders are notified of a new application. The lenders have three days to submit their bid for the best possible rate. After that, the borrower has 24 hours to select their lender.

“The security and information was transparent and response time was excellent,” WiiBid client Irene Fraser says.

Alison Holloway, another customer shares that her favourite feature is the auction.

“All the lenders eager to bid for my business was quite the contrary to chasing the lenders for approvals,” she says.

Wiibid recently partnered with Equifax Canada to provide an end-to-end solution, where a single credit check is used as part of the secure solution, safeguarding users’ sensitive information as part of the mortgage application.

“The information comes right from your home to an encrypted platform with no unsecured email exchanges,” Eskooch says.

Buying the right mortgage is as important as buying the right property; the terms and rate selected can make a big impact on the yields. Lenders are keen to provide their best services to serious shoppers.

“If you send the same application through multiple brokers, the lenders see it as a red flag,” Eskooch says.

To learn more about WiiBid’s innovative digital marketplace, visit
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