Bajaj Housing Finance has partnered with India Mortgage Guarantee Corporation to enhance access to affordable housing finance through mortgage guarantee-backed solutions, with a strong focus on first-time homebuyers and underserved segments.
Key Highlights
- Bajaj Housing Finance partners with IMGC to expand affordable home loans for underserved, first-time homebuyers.
- Mortgage guarantees to bridge credit gap, boost lending access for informal income and low-credit borrowers.
The collaboration combines IMGC’s expertise in credit risk protection with Bajaj Housing Finance’s distribution strength and last-mile lending capabilities, enabling wider access to formal home loans for borrowers who are often excluded due to limited credit histories or informal income profiles.
Addressing India’s Affordable Housing Credit Gap
India’s affordable housing sector continues to face a significant credit gap, particularly among self-employed individuals and informal workers who struggle to meet traditional lending criteria.
Through this partnership, Bajaj Housing Finance will leverage mortgage guarantee-backed solutions to expand lending access. This includes its Sambhav Loans, tailored for customers with limited credit history or informal income streams, while maintaining prudent risk discipline essential for sustainable lending.
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Highlighting the importance of such collaborations, IMGC Managing Director and CEO Mahesh Misra said, “Mortgage guarantees play a crucial role in enabling lenders to extend credit confidently while maintaining strong risk discipline. Mortgage penetration in India still relatively low compared to global benchmarks, risk-sharing solutions are key to scaling responsible lending and unlocking growth potential in the housing finance sector."
The partnership is expected to strengthen IMGC’s presence in the affordable housing segment while contributing to a more inclusive housing finance ecosystem in India. By bridging the housing credit gap and enabling access for underserved borrowers, the collaboration aligns with the broader goal of expanding homeownership opportunities and deepening mortgage penetration in the country.
