PHOTO: Rachel Muscat-rahme from Sydney has her eye on the bnpl offering via Bricklet. Picture: Sam Ruttyn Source: News Corp Australia
Buy Now Pay Later is coming to real estate, giving investors an alternative avenue to realising their dreams of property ownership.
As housing affordability continues to be a pressing issue, especially for younger generations, and the national housing market rebounds solidly from COVID-19, the Afterpay of real estate has come knocking.
Dynamic micro-investing platform Bricklet is providing buyers the opportunity to become an independent part owner of their chosen residential or commercial dwelling via BNPL as of this weekend.
“Bricklet came about from the idea of making property investment accessible to all Australians and buy now pay later is about extending that reach,” Bricklet CEO Darren Younger said.
“Saving up your deposit for your first home is a big challenge and Bricklet has always been about providing an alternative to that. But we also understand saving up a lump sum to invest via Bricklet can also be an ask.
“That’s why we have opened up the buy now pay later option. The amount required to get your foot in the door is within the reach of many potential investors.”
However, Bricklet’s investment proposal differs from most BNPL platforms in that there are no penalties for late payments. There are no extra fees or interest due on late payments.
“If you’re late over a few payments our admin will work with the bricklet owner to help them get through that period,” Mr Younger said.
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