I can see a welcomed shift in the way that people obtain mortgages in the future. This shift has already begun to happen with the likes of Crowd Mortgages Limited being set up (this is not my company but someone else’s).
My idea is one that is very similar yet the USPs and system itself will stand out from the above.
Crowd Mortgages are mortgages that savers fund. The basic principle is that savers are getting a rough ride, they get a couple of % IF that on their savings and it looks like the markets are set to stay this way for some years yet. This leads us to an opportunity, a gap to be filled in the way savers are rewarded better interest rates IF we can find a way to do it… there is a better way, read on…
On the flip side people require mortgages and they are becoming either difficult to obtain OR the interest rates and packages available are expensive, you have setup fees that can be in there £1000’s, you have complicated procedures and above the system is not flexible enough for today’s society. Mortgages are stuck in the dark ages and the existing institutions are not keeping up. There is a better way, read on…
What we need is a solution to help both parties out, one that will help the saver obtain better interest rates and returns and one that will help those seeking mortgages to obtain better rates (thus lowering costs of mortgage) and a flexible system that will allow payment holidays or to swap %’s to gain better interest rates without being stung with £1000’s in fees… Flexible mortgages, not tied down, no sting in the tale if you wish to change or amend.
Welcome to the future, welcome to crowd mortgages.
I am not naive, this sort of thing is going to take some organising and people with the right skills. I am looking for business drivers, seed funding, marketer’s, copy writers, brand designers, graphic designers, system developers, hardware, but also a new flavour of people, the Doer’s and Shifters, the entrepreneurs of us out there.
There is little information in this explanation about details but that’s on purpose. This is a startup, requiring a step up in all areas. I believe the rewards can be very large. IF you are interested then get in touch as soon as you can, no matter what your skills or skill level I will assess everyone that has an interest.
I have lots of design work already being created, website domain, business names etc etc but would like to get some people on board to assess what I already have so we can test out some of my assumptions.
I look forward to hearing from you
Other details :
Channels: Listing fees, commission fees (applied to loans), swap fee’s, 3rd party channels such home insurance, buildings and contents, gas/pipe covers etc, service fees (savers could set up premium accounts to manage portfolios etc), 3rd party solicitor/ estate agent links (referral scheme).
Possible exit strategies: Possibility of selling the business to a large financial or an Initial Public Offering.