Sydney fintech HashChing just digitised conveyancing

HashChing’s Mandeep Sodhi, Siobhan Hayden and Atul Narang. (Source: supplied)

Online mortgage marketplace HashChing has announced a new partnership for digital conveyancing.

The Sydney fintech is now offering the services of electronic conveyancing marketplace Titlexchange, with the pilot limited to Victoria for now before a general rollout later.

HashChing chief information officer Atul Narang said that the legal paperwork can be a bottleneck in the traditional home purchase process.

“Borrowers are at the mercy of conveyancers, who can sometimes drag the process out unnecessarily and worse – charge more for their own delay,” he said.

The integration into the HashChing platform allows users to access fixed-price conveyancing through Titlexchange without having to go offline to provide ID and personal data.

“We connect users with a local conveyancer the same way we connect them with a local mortgage broker,” Narang said.

“Since the whole procedure is completed online, it minimises the manual processes and paperwork associated with property exchange.”

Conveyancing packages accessed through HashChing are 10% cheaper than the standalone Titlexchange prices, with off-the-plan purchases and family transfers charged at $490.50 plus disbursements, and buying and selling existing properties setting users back $738 plus disbursements.

The Titlexchange partnership follows HashChing’s deal with CGU Insurance in March to offer discounted home insurance.

HashChing, which started less than two years ago, provides a channel for potential borrowers to access home loan deals pre-negotiated by brokers. The fintech has so far processed more than $7 billion worth of loan applications from more than 14,000 applicants.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.