Imagine moving into your new home and getting up to R25 000 back to spend on anything of your choice? It’s a new homeowner’s dream.
Digital home loan start-up MortgageMarket.co.za is the first independent online marketplace to offer a significant portion of its profits back to customers – the MoneyGuarantee promise – as an incentive for applying for a home loan via the platform.
The platform is also set to change the slow and cumbersome traditional home loan application process by offering consumers convenience, transparency and choice when it comes to finding the best home loan deal.
“The home loan industry has been slow to adapt to the digital revolution but MortgageMarket aims to change that, while also offering real value in the form of money back to our customers,” says property finance expert and founder of MortgageMarket Timothy Akinnusi.
MortgageMarket’s online platform is simple. You create a profile and then complete the entire application journey without any human intervention, unless you request assistance. One application goes to five of South Africa’s major mortgage lenders, in real-time. You can view competitive quotes on one page, making it easier to choose the best option for your needs. You can shop and compare without worrying about hidden costs. Once you have chosen the best offer, MortgageMarket works with you, the bank and the estate agent, to close the deal quickly and with no fuss.
“Home loan applications usually take a while to process and can be admin intensive, depending on the lenders,” Akinnusi says. “It makes sense for homebuyers to access the entire home loan market without ever stepping into a bank. We can reduce the process to just 2 days, while increasing your chances of getting a home loan by over 70%, at no cost to you. We reward you at the end of the journey because you’ve taken ownership of the process of making the single most important purchase any individual can make – your home.”
He says the mortgage industry is poised for massive disruption and that his company is looking forward to putting power back in the hands of increasingly tech-savvy consumers.
