Sydney’s fintech sector has seen a significant development, with local startup MyBrix introducing its first listings on a peer-to-peer property finance funding platform designed to offer alternatives to traditional mortgage arrangements.
Offering investment opportunities, MyBrix has listed a property in Cordeaux Heights, requesting $380,000 in funding against a market valuation of $1.4 million, and a property in Macquarie Links seeking $825,000, valued at $1.52 million. The company reports that both properties have experienced a decade-long growth surpassing the national average.
MyBrix’s platform facilitates a transaction where property owners can sell portions of their mortgage debt to investors, exchanging fractional interests in their property. This enables property owners to settle their bank loans while investors, along with property owners, can profit from any capital appreciation.
Founder and CEO of MyBrix, Brian Stevens, provided insight into the market response, stating, “The MyBrix model is receiving strong interest from homeowners and investors, who are attracted to this innovative way to finance and invest in property.” He alludes to a market trend where property owners seek alternative financing options in light of ongoing economic challenges.
The platform distinguishes itself from prior real estate fractionalisation models by empowering homeowners to keep their property title while drawing liquidity from their assets. Available for all residential properties in Australia, MyBrix aims to make property financing more economical and accessible.
Open for registrations, MyBrix invites property owners and investors to explore the potential benefits of their platform as it aims to change how Australians finance properties. Further information and details on how to participate are available on their website, www.mybrix.com.au.