Here is the article that appeared today in the Burlington Post:
You can view the full article here.
Burlington, March 2009…The world of mortgages and insurance is simplified and demystified for Canadians due to the ingenuity of entrepreneur Kelvin Mangaroo.
A search for the best lending or insurance rate, previously limited to local banks and brokers, is now a national pursuit on the comprehensive, comparison website called RateSupermarket.ca.
Twice a day updates of over 55 lenders and brokers including banks, credit unions, trusts, savings and loans, mortgage companies
and brokers are listed with more than 500 rates on fixed, closed, variable or flexible options. Visitors can also compare each rate’s details such as payment holidays, prepayment options and rate guarantees with their ‘side by side comparisons’, which enables more meaningful information.
A credit card comparison service is also available to do the same for Canadian consumers that the mortgage comparison information does: that is save buyers money.
“There were similar sites in the United Kingdom and United States, but there was a gap in the market in Canada,” said Mangaroo who
filled this void with the launch of the ratesupermarket site in May 2008. It got noticed quickly averaging more than 50,000 hits monthly.
“It’s become a lead generator for market lending and mortgage partners alike,” said Mangaroo.
RateSupermarket.ca recently added a Mortgage Rate Outlook Advisory Panel to their team. It is made up of experts in the industry,
including the VP of ING Direct, the chief economist for the Canadian Real Estate Association, mortgage brokers and Garth Turner, a
Canadian business journalist and financial expert. They will provide short-term outlooks for mortgage rates and provide commentary.
Consumers can also turn to RateSupermarket.ca when hunting for the best insurance rates. They compare rates for life, car, home
and tenant insurance, ensuring you get the best quote available. This new business is the result of his accumulating a wealth of experience internationally. When the Burlington native graduated from Notre Dame Secondary, he earned a business degree from Wilfred
Laurier and headed to New Zealand where his travel plans were sidetracked for a marketing job at Hewlett-Packard.
Mangaroo finally packed his bags again and moved to London, England next where his plans once again were altered. A proposed two-year stay turned into 5-1/2 years, as he got in early working for and building up the success of an online dotcom startup
called tradedoubler.com. He also started a vehicle security business, which he is in the process of selling.
Managaroo is now back in the city where he spent his formative years, running the streamlined website operation from its Sandlewood
RateSupermarket.ca is free from a consumer point of view — even the 24 hour, 7 day a week customer center that lets potential mortgage holders arrange a call back from licensed mortgage specialists carries no charges. The site makes its money from referral
fees paid by brokers and lenders when clients who use the site request to be contacted.
“We’re doing well with it, and in these economic times, doing right by clients and lenders,” added Mangaroo.