FinTech-start-up MortgageMarket is the latest tech start-up to be involved in a major lifestyle residential development in South Africa; with its exclusive partnership with Orlando Towers Estates in Soweto, Johannesburg. JSE Listed construction company Raubex is the construction partner in the development with its 2800 apartments and set to break ground on 20 July 2022.
MortgageMarket has utilised its state-of-the-art technology to pre-approve buyers, giving them access to their credit score and affordability in just 2-minutes. This technology enables customers to select the right apartment, based on their affordability, prior to signing a sale agreement. Over 30% of the phase one development has been sold in the first two weeks of launch.
The start-up, nominated in 2021 for the African Banker Awards under the category of “Innovation in Financial Services Award”, has been at the forefront of bringing innovation into the property market through its world-class technology. They’ve enabled customers to engage directly with 7 banks online through its marketplace platform, using innovative design and data intelligence.
Founded in 2019, MortgageMarket offers a fully digital home loans marketplace experience for buyers ranging from affordable housing to high-end developers. It has plans to expand its offerings into various parts of the home buying value chain to assist customers will more valuable products.
“We have designed an online user experience that reflects our deep understanding of home loans and customer data automation. We are proud to be part of an iconic development that will transform the property landscape of Soweto and how township property is viewed in the market,” says Tim Akinnusi, co-founder and CEO of MortgageMarket.
MortgageMarket will also be offering buyers free Wi-Fi and router for 1 year as part of our continued efforts to bring valuable propositions to home buyers. “Our mission is to give buyers access to the best choice of home loans and valuable rewards for self-serving.”, adds Akinnusi.
Backed by private sector investments, Orlando Towers Estates in Soweto is a first-of-its-kind residential estate in the township with lifestyle facilities like biometric access, a football pitch, kids’ play areas, braai pods, clubhouse facility, fibre network, resident parking bays and gas utilities with prices starting from R670 000 for a 2 bedroom and one bath to R930 000 for a 3 bed and two baths.
Akinnusi, who is also a property columnist for the Sowetan newspaper and a property thought leader for Metro FM, believes that it is important for the country to put its energy into developing high-quality affordable homes. This especially after the lockdowns restriction brought into sharp focus the need for housing that can adequately serve multiple functions such as leisure, work and shelter.