SPONSORED | Innovative new product offers pensioners access to a percentage of their home’s equity while they retain full ownership
Executive director Chris Loker says more than R10-million in Freedom Finance loans were approved in a proof-of-concept trial during which the company was inundated with prospective borrowers in excess of R100m.
“The hypothesis is proven and we’re now investing in technology to service clients nationally while raising more lending capital. Our solution, while commercial, also addresses social, borrower and macro-economic needs. It’s a win-win for everyone,” says non-executive director Mike Freedman. Recently, a similar Canadian start-up, Fraction, raised C$289-million in a combination of equity and debt financing to take on the North American reverse mortgage industry with a fairer, more transparent solution for struggling homeowners.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US pharmaceutical firm Moderna to build plant in AfricaThe statement did not say where the facility would be built or give a date for its initiation -- only that the company 'expects to begin a process for country and site selection soon.'
Read more »
COVID-19 in SA: New infections are dropping: PhaahlaHealth Minister Joe Phaahla says the country is entering stable territory.
Read more »
Widespread welcome after UK finally removes SA from red list for travellersB4SA welcomes the decision of the UK authorities, saying common sense has prevailed
Read more »
Ageing nurses: A crisis on the near horizon for SANurses make up a large part of the healthcare workforce in SA, but almost half of them are set to retire in the next 15 years, making current shortages only the beginning of what seems likely to be a growing problem.
Read more »
SA tourism sector looks to bounce back after UK red delist announcement | CitypressSouth Africa is set to be removed from the UK’s red list, which banned almost all travel between the two countries. Analysts say the move is expected to bring a significant boost to the country’s tourism industry, which has been battered by the Covid
Read more »