Indiabulls Housing Finance, HDFC forge co-lending partnership
Indiabulls Housing Finance (IBH), an Indian home financing company, has entered into a co-lending partnership with HDFC to provide housing loans to homebuyers at competitive rates.
Under the terms of the partnership, Indiabulls Housing Finance will originate retail home loans as per jointly drawn up credit policy. The Gurugram-based mortgage lender will retain 20% of the loan in its books, while HDFC books will have the remaining 80%.
Indiabulls Housing Finance said that it will service the loan account right through the life cycle of the loan.
Indiabulls Housing Finance, HDFC forge co-lending partnership. Photo courtesy of Nattanan Kanchanaprat from Pixabay.
The company said that the co-lending partnership with HDFC will be a cornerstone to its new balance-sheet light growth business model. Furthermore, Indiabulls Housing Finance said that the technology led co-lending will help it provide convenient and seamless experience to its customers apart from helping it grow its footprint to Tier III and IV towns of India.