Sydney-based fintech startup MyBrix has received its initial applications from property owners eager to leverage its peer-to-peer, no-interest, and no-repayment property finance platform.
The debut properties open for investment include a residence in Cordeaux Heights, NSW, valued at $1.4 million, seeking $380,000 in funding, and another in Macquarie Links, NSW, independently appraised at $1.52 million, aiming for $825,000 in funding. Both properties boast a decade-long average growth rate surpassing the national average.
MyBrix operates as a peer-to-peer funding platform, enabling property owners to trade their mortgage debt to investors in exchange for fractional property interests. This arrangement facilitates homeowners in settling their bank loans while allowing both owner and investor to participate in the property’s capital appreciation.
“Amidst sustained low-interest rates and ongoing cost of living challenges, property owners seek avenues to alleviate mortgage stress and break free from financial constraints. MyBrix’s innovative model garners considerable interest from homeowners and investors alike, drawn to this transformative approach to property finance and investment.”
Brian Stevens, Founder and CEO of MyBrix
In contrast to prior endeavors in real estate fractionalization, MyBrix empowers homeowners to retain property ownership while accessing essential funds. Moreover, it extends its services to any residential property across Australia, democratizing access to funding while minimizing associated costs for all stakeholders.
