A New Zealand start-up is capitalising on the increasing popularity of shared-ownership schemes by organising a “speed dating” night to help first-time homebuyers find people they can split their mortgages with.
Start-up firm Miuwi, which describes itself as the “Tinder of property investing,” will be holding the event on April 17 in Ponsonby. According to the NZ Herald, the idea is to link homebuyers with each other so they can pool their money and buy houses in a shared-ownership arrangement. The Miuwi team will separate pre-registered participants into groups of suitable homebuyer matches. There will also be fun questions and running games to encourage attendees to mingle and chat.
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Miuwi co-founder Brad Parsonson told NZ Herald that, while the speed dating element was a “little tongue in cheek,” the event nonetheless gives many first-time homebuyers an opportunity to enter Auckland’s increasingly expensive housing market. According to Parsonson, two prospective homebuyers with an average deposit size of $69,791 can purchase together in even the most challenging of housing markets.
The start-up also offers to help customers go through the buying process by connecting them with the right home loan products. Miuwi doesn’t charge a fee but receives commission from companies whose services the buyers use.
According to the NZ Herald, homebuyers from 23 towns and cities across the country have already registered their interest. Consequently, Miuwi holds a combined $4.7 million in first-home homebuyer deposit savings for the event.