South African online home loan platform MortgageMarket has announced its expansion into Namibia, marking a significant step in providing accessible home financing solutions to the Namibian market.
The launch of MortgageMarket Namibia is in collaboration with the launch of Tama Estates, a new residential housing development in Swakopmund. This collaboration aims to streamline the process of obtaining pre-approved loans within minutes for prospective buyers, eliminating the challenges associated with navigating multiple loan options from various banks for property purchases.
A statement released by MortgageMarket noted that Namibia has a housing backlog of approximately 300 000 homes for its citizens. This collaboration will help foster first-time homeownership within the country.
MortgageMarket operates on a cloud-based business model that will offer significant cost savings for its customers in the southwest African country. This includes a cashback feature along with the approved home loan.
Tim Akinnusi, co-founder of MortgageMarket, said: “To be able to pioneer and be the first to launch a marketplace model for home loans in Namibia is an incredible milestone.
“We’re committed to working tirelessly with our banking partners to empower potential buyers with much-needed tools to equip them in their homeownership journey,” he concluded
