Sydney based Fintech startup MyBrix, has received the first applications from property owners to its peer-to-peer no interest and no repayment property finance funding platform.
The first properties available for investment include a property in Cordeaux Heights NSW, with a market valuation of $1.4 million that is seeking $380,000 in funding and a Property in Macquarie Links NSW, that was independently valued at $1.52 million and seeking $825,000 in funding. Both these properties have average growth over the past 10 years, higher than the national average.
MyBrix is a peer-to-peer funding platform that allows property owners to sell their mortgage debt to investors in return for fractional interests in that property. The property owner gets to payout their bank loan and both the owner, and investor share in the property’s capital growth.
“With interest rates likely to remain at current levels until the end of the year, and continuing cost of living pressures, property owners are looking for ways to lessen mortgage stress, and escape mortgage prison. The MyBrix model is receiving strong interest from homeowners and investors, who are attracted to this innovative way to finance and invest in property,” MyBrix Founder and CEO Brian Stevens said.
Unlike previous attempts to provide the benefits of Real Estate fractionalisation, MyBrix empowers homeowners to retain ownership while accessing funds for their financial needs. It is available for any residential property in Australia, not just a curated subset. MyBrix significantly reduces the costs to all parties and increases the availability of funding.
Registrations for both property owners and investors are now open at www.mybrix.com.au
