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A new deal between Co-operty and Effi will see the proptechs collaborate to make it easier for co-owners to find the right broker.
Co-operty, which helps family members and friends buy property together using the tenants-in-common form of land title registration, has signed a strategic integration agreement with Effi to bring some of its features to the mortgage broking platform.
Describing the venture as a “long-term, synergistic collaboration”, the duo asserted that the partnership would help more people buy a home through the avenue of co-ownership.
Co-operty has reportedly already begun referring clients to Effi to find a mortgage broker who can structure the financing for a property that is co-purchased with family or friends.
Soon, Effi will host features of the Co-operty app that will be directly accessible to brokers inside the platform, allowing for a seamless experience.
Established last year, Co-operty helps co-owners come together in a secure digital space to establish their legal arrangements and engage an expert conveyancer who is familiar with the legal structures necessary for a tenants-in-common agreement. Co-operty also assists with referrals for property valuers, financial advisers, and mortgage brokers who specialise in the area.
Effi, meanwhile, provides a complete end-to-end platform that offers lead engagement and management functionality, together with predictive analytics to help mortgage brokers improve their workflow.
Together, they believe they’ll be able to help more Australians access an option that has been underutilised as an avenue to acquiring a home.
“Buying property with a friend or family member is an interesting option for a mortgage broker to explore with a client who can’t otherwise afford to buy in the current market,” said Mandeep Sodhi, founder and CEO of Effi.
“We’re excited for our partnership with Co-operty to deliver the dream of home ownership to more Australians and add value to Effi’s brokers and their clients,” he added.
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