In this week’s podcast we talk to Tim Akinnusi, the CEO of MortgageMarket.co.za. Tim is originally from Nigeria but has resided in South Africa for 30 years. He is the former Managing Executive of ABSA Home Loans, and prior to that he was the Executive Head of Sales and Client Value Management at Nedbank Home Loans.
Tim is a seasoned property finance expert with over 15 years’ experience in the financial sector. Tim started MortgageMarket in 2020 to help ordinary South Africans get the best loan to value.
MortgageMarket is the first online marketplace for home loans to give customers direct access to the Top 7 banks in SA and has done more than 2000 homeloans; they pay customers R5,000 cash back just for getting their home loan through the platform.
MortgageMarket will also help you find a property, understand if the property is priced correctly so you are not over-paying for the property. They also help you get the best deal for your mortgage by being able to compare deals across banks and negotiate better.
MortgageMarket also works with property developers who are buying land in good areas to partner with them to help them make sure they are packaging the properties in a way that allows the banks to see value in what they are offering.
MortgageMarket is also expanding into insurance and bridging finance.
In this podcast episode Tim also shares how to increase your credit score without a credit card or taking on more debt. The higher your credit score, the more like you are to qualify for a home loan.
He lost out on buying his first home for R345,000 off plan because he had too much debt (an expensive car), so he ended up buying his first home for R600,000 and ended up paying transfer costs.
He has started to build a strong property portfolio because he can see properties before they hit the market, from working with property developers.
Episode 79: Growing a property investment to own two residential blocks of flats
Episode 78: How to grow your property portfolio using multiple investment strategies
Bonus Episode: Why families have the same money patterns
Episode 77: Building a boutique hotel chain on the African continent
Bonus Episode: Real Estate investing trends on the African continent
Episode 76: Looking at the Spatial Planning and Land Use Management Act
Episode 75: How to buy 13 properties in one year without putting any money down
Episode 74: How to invest in property in different countries as you travel the world
Episode 73: Diversifying risk by investing in property in the Stock Exchange, South Africa & China
Episode 72: Why you need a Structural Civil Engineer in your real estate tribe
Episode 71: How to create different cash cycles as a property developer
Episode 70: How to grow your real estate portfolio using Airbnb in South Africa
Episode 69: The A to Z on buying properties at auction
Episode 68: Interior Architecture & how Covid is changing building trends
Episode 67: Using shipping container homes to solve the housing crisis and build a property portfolio
Episode 66: The New Year 2021 Episode - Taking a holistic approach to real estate investing
Episode 65: The Christmas 2020 Episode
Episode 64: How to get funding for commercial property in South Africa
Episode 63: How to profit from multi-let properties that cost less than R1 million (US$65,772)
Episode 62: The importance of a town planner and zoning in real estate investing
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