New house-buying platform

Tuesday 5th November 2019

New house-buying platform to end property war between millennials and baby boomers

Online house-buying platform Levridge, which launches in New Zealand today, introduces a fresh take on co-ownership in the New Zealand property market, connecting hopeful first-home buyers to everyday investors.

Director of Levridge, Amy Wilkes, says the innovative, new platform has been developed to help people who fall through the gaps of other first-home buying initiatives.

“The Levridge co-ownership model helps first-home buyers into the property they want, with very little requirements and limitations on what and where they can buy. It also provides for everyday investors who want to boost their retirement savings without taking on a hefty mortgage or the strain of being a landlord. Basically, the investor puts up the deposit, and the buyer owns the house and services the mortgage. At the point of selling the house, they split the capital gains 50/50,” says Amy Wilkes, Director of Levridge.

“Our online platform helps to match first-home buyers with everyday investors, to ensure their house-buying preferences are aligned. It’s a bit like a dating site really, but for buying property,” she says.

A multi-award winning mortgage broker and a millennial herself, Levridge founder Amy Wilkes has worked across every aspect of the property market, including launching her successful investment company Wealth Works. Ms Wilkes identified a twofold-problem facing people at different ends of the investment journey, which helped shape the Levridge model.

“Too many young Kiwis are struggling to raise a deposit to buy their first home, and too many mature New Zealanders are nearing retirement without sufficient funds to retire comfortably. It dawned on me that instead of playing the blame game, these two different groups of people could actually help each other get closer to financial security. Levridge is a solution for New Zealanders at both ends of the property and investment lifecycle,” she says.

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