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Our Bureau

Hyderabad, Dec 6

Wizard Home Loans, a joint venture of GE Money and the Australia-based non-banking firm Wizard is planning to expand its operations to six major cities by the middle of 2008.

“We want to become the most-preferred home loan provider in India with highly competitive pricing” Mr Egisto Franceschi, Chief Executive Officer, Wizard Home Loans, told newspersons at the launch of operations here on Thursday.

The firm had commissioned a study by A.C. Neilsen to understand the home loan market in India and the consumer preferences. “The study shows that the consumers want, mortgage expertise, competitive pricing and personalised service, among others. Our business model (on franchisee basis) has all these offerings,” he said.

The research showed that Hyderabad was a potential market for real estate. “In view of this, we have chosen Hyderabad as the second city to launch operations,” he added. In September 2007, the firm had launched its operations in Delhi. About six cities were identified for expansion. The company has priced its home loans at 9.99 per cent (on floating basis).

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