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The website Fundit launched this morning, marketing itself as an "online mortgage marketplace".
The site pitches home loan lenders directly against each other in live web-based auctions to offer the best deals for prospective customers.
Fundit's chief executive Abby Foote said the independent site enabled homeowners, first-home buyers and property investors to directly access the home loan market via the internet, set up free private auctions detailing their home loan needs, and make lenders compete online for their business.
