Taking ‘Smart’ Ownership of your investment
Turning a new page in South Africa’s home loan and property financing era, MortgageMe, a new online bond aggregator, made its debut in September 2019 to give property-buyers full ownership of their financing prospects. Cutting out the time-consuming hassle and paperwork of traditional loan application processes, the new free website ticks all the boxes for a convenient, simplified solution to getting your dream home.
Up until this point, South Africa has been latching on nicely to international technological developments such as PropTech innovation trends. PropTech (‘property technology’) is a revolutionary movement in how people are starting to approach and think about real estate investment, inevitably disrupting traditional real estate.
While the growing rate of first-time buyers in South Africa remains at a slow pace, with only 20 to 29 percent of approved home loans linked to new purchases, there is still much improvement anticipated for aspiring home-owners to ‘buy-in’ to the financing process with ease.
MortgageMe is South Africa’s next step to redefining traditional methods to entering the country’s property market.
The platform, which comes at no cost, initiates a digitised application process and kick-starts automated negotiations with banks. With MortgageMe’s instant access to a pool of South Africa’s most respected lenders, and having the best rates negotiated on your behalf, are important benefits that give you the full, realistic picture before settling on your ideal decision.
MortgageMe is the brainchild of two forward-thinking companies, e4 and WeAreMonsters, who saw the potential for better transparency in the country’s property finance market. The two companies constantly work with the latest developments in the online technology and business model industries.
“A clear canvas and visible outcomes are vital in a big decision such as financing your home or refinancing a commercial property,” says Kurt Campher, MortgageMe’s head of product. “Traditional methods often result in a lack of transparency in the communication to potential buyers, causing further stress in the loan application process. We wanted to change that and empower loan applicants with all the information they need to make a well-informed investment.”
“In today’s real estate industry, it can be daunting to turn away from what they have accepted as the ‘norm’ in property investment paths, especially with current financing models still heavily relying on the steps that have been taken over many years,” adds Andrew Price, WeAreMonsters. “The assumption that rings, ‘The Usual Way of Doing Things’, unfortunately sits safe in the laps of many aspiring property owners who have come to know the jingle of traditional lending systems. Such consumer may, in fact, find the value in breaking away from the ‘known’ and embracing the convenience of a secure, cost free online aggregator service that is available to you on your own time”. MortgageMe’s offering is sealed with various partnerships and completed stringent processes, putting regulations in place to ensure that the platforms users’ private information remains secure.
With its initial launch in 2019, the online public will be able to calculate their true affordability using the Bond Certificate functionality, and when they have signed their offer to purchase, they can apply for a home loan on app and access functionalities like its affordability calculator from www.mortgageme.co.za.