New proptech platform to help renters become buyers

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A one-stop shop proptech platform to help would-be buyers become mortgage ready by increasing their credit and affordability score and help build up their deposit is gearing up to soft launch by the end of the year.

Homely aims to get first-time buyers fit for purchase and when they are ready to buy they will also have the opportunity to source mortgages through the platform.

The Homely Marketplace function will also help people find rental properties while its Manage by Homely feature allows landlords to manage their properties.

MULTI-TIERED

Homely’s multi-tiered approach to an ever-complex buy-to-let market aims to empower landlords by creating a central marketplace to reduce frictional costs and aid tenant engagement.

The company says a closer focus on operational aspects will help reduce vacancy levels while introducing financing opportunities and facilitating some aspects of property maintenance and management.

Homely also works with tenants by rewarding good behaviour in the form of Homely Bricks that can enhance their credit scoring and complement their deposits to help them become mortgage ready.

The aim is for the platform’s transparency to move tenant suitability assessment from a point-in-time credit check to an observed affordability risk that can be derived from overall spending habits and better credit ratings over time.

QUALITY

lewis scott homelyCo-founder and Chief Executive Lewis Scott (pictured) says: “We feel our connection between renters and landlords will create a better quality rental environment and offer landlords an unrivalled platform in efficiency and standards.

This is the first digital platform that brings the whole market together.”

“This is the first digital platform that brings the whole market together, benefitting all parties by reducing inefficiency and enhancing communication.”

Steven Ward, founder and Chief Investment Officer, adds: “The key is the exchange of data and how it is used to more carefully understand the needs of, and to provide benefits to each stakeholder, including consumers, landlords, lenders and others.”

Homely aims to fully launch in 2023.


Go to Publisher: Proptech Archives – The Negotiator
Author: Robyn Hall