Kanetix Overhauls Canadian Mortgage Shopping

First-of-its-kind mortgage rate comparison service helps consumers compare and secure mortgage rates, plus get pre-approved – all online

TORONTO, Oct. 24, 2012 – Comparing mortgage rates has always been easy to do at Kanetix.ca, but now Kanetix helps mortgage shoppers not only compare mortgage rates, but also lock in a rate and get pre-approved online, quickly and securely – a first in Canada.

Canadian consumers increasingly look to the Internet for mortgage information, and now they’ll be able to do more than just research, as Kanetix transforms the way that consumers shop for and get pre-approved for a mortgage.

“Being able to comparison shop, secure a rate and get pre-approved for a mortgage – all online – is the next logical progression of online mortgage comparison shopping,” said Yousry Bissada, President & CEO of Kanetix Ltd. “Together with Invis and Mortgage Intelligence who have a wide network of all the leading lenders in Canada, and Equifax – a leading credit-reporting agency – we’re able to help consumers navigate the mortgage pre-approval cycle seamlessly, effortlessly, and at their convenience; it’s a winning collaboration.”

Currently available in Ontario, shoppers comparing mortgage rates at Kanetix.ca will be able to lock in a rate and be pre-approved, after which they’ll receive a pre-approval certificate confirming the rate secured. Competitive, market leading rates from as many as 10 bank and non-bank lenders are featured; and, whether looking for an open or closed mortgage, variable rate or fixed rate mortgage, all are available through Kanetix.

“We’re thrilled to be partnering with Kanetix; they are a leader, innovator and without a doubt the best in class for online insurance shopping. Kanetix’s expansion into mortgage origination gives us an incredible lead generation opportunity and we look forward to working with them,” said Bob Ord, CEO, Invis-Mortgage Intelligence.

Consumers will have the option to complete the mortgage pre-approval process online or, after comparing rates at Kanetix.ca, can call in to connect with a licensed mortgage broker, ask any questions they may have and secure their rate over the phone. The choice, as always, is up to the consumer and Kanetix is pleased to present a simple, quick and secure means to comparison shop some of the best Ontario mortgage rates available.

About Kanetix

Launched in October 1999, Kanetix was Canada’s first online insurance marketplace and today provides over a million quotes per year to consumers looking for insurance, as well as comparisons for mortgage rates and credit cards.

The Kanetix comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix website at www.kanetix.ca to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix connect with the provider to purchase or apply for the product over the phone.

Through its Software as a Service team, Kanetix is also the leading provider of online insurance quotation technology, developing online quotation systems, mobile solutions, actuarial tools and websites for many of Canada’s largest insurance brands.