We have developed a unique two step two sales process for each home.
The product is called: Mortgage Alternative or MA.
Mortgage Alternative is a much needed “bridge to a mortgage” that sits on the purchasing time line before a traditional mortgage to help home buyers move in today, and save their deposit for a mortgage whilst living in their dream home.
The product is operated by: Haigslea Residential Pty Ltd – a licensed real estate agency that sells any property that a qualifying home buyer desires (that Haigslea approves of) in the unique new second sale referred to above, for either parents or other investors or Mortgage Alternative Funds (collectively referred to below as “Our Fund”) that appoint Haigslea as their selling agent.
These owners are sellers remaining on title until the home buyer occupier settles his/her/their purchase contract with a mortgage any time in the next ten years – at a time of their choosing, when the home buyers/occupiers can settle their purchase obligations with the Fund/ their parents or the other investor.
The Fund could be their Mum and/or Dad – but it doesn’t have to be.
The Two Sales Process: Our Fund buys the home you choose and Haigslea Residential – a licensed real estate agency (Qld licence 3995434) – acts as agent for the Fund exclusively, to sell it on to you using the Mortgage Alternative deferred purchase contracts.
It’s your home! Once you sign the contracts and move in, the Fund cannot back out of the contracts and sell your home to anyone else – unless of course you default. So we must credit assess you first, before you sign up and move in. Your leasehold interest is registered on title and you’ve signed a contract to buy the home with special conditions – to protect your interest.
Target Market: If you are a credit worthy home buyer without the usual deposit, looking to get a foot on the property ladder earlier, so that the market doesn’t move away from you whilst you are trying to save, then Mortgage Alternative is an elegant solution to your needs. Apply to see if you qualify.
Background to Us: We developed the product over many years through a company group called the Haigslea Group – named after the area where the Founder (Keith Burchill) lived whilst developing it.
Keith (a lawyer and chartered accountant since the early 1980’s and a licensed real estate agent since 2016) progressively assembled a team of over 20 extremely well qualified and experienced professionals to progressively develop and tie together the “backbone” required to allow Mortgage Alternative to come to market in Australia in a scalable way and be appropriately priced for market.
Our team passionately believe this great Australian born innovation is an elegant solution to high up front costs that cause “the deposit gap” and is set to change the way Australians invest in residential property and buy their homes, living in the home debt free until they are ready to settle at a time of their choosing – but no longer than for ten years.
It puts the power more in the home buyer’s hands than the bank’s, by delivering more certainty of cash flow, greater access to home choice and less exposure to interest rate hikes. Simply smarter.
Who Are Haigslea Group, Haigslea Residential Pty Ltd and Mortgage Alternative Pty Ltd?
Haigslea Group was first formed in August 2010 and worked quietly in the background on product design and development for many years. Haigslea Residential Pty Ltd acts as a licensed real estate agency (Qld licence 3995434 expiring February 2025 registered with the Office of Fair Trading in Queensland).
Haigslea Residential Pty Ltd have a very competent and well credentialed Board and management team and first class lawyers who have designed contracts that are well balanced and fair to struggling home buyers who qualify.
We are a digital real estate agency with a difference as we work with traditional mortgage broking channels to perform credit assessments to find qualifying customers that the product is better suited to, as a bridge to the best mortgage choice, once home buyers eventually settle with the Funds that make living in your own home possible.
Who Funds the Home: Put simply, you choose your dream home, and get credit approved by us and our accredited and trained mortgage brokers. The Fund buys the home and resells it to you immediately (upon the Fund settling its purchase from a third party vendor) – it sells to you however with an extended settlement period for you, but your immediate occupation, with your own registered interest on the title. You move in now and start paying the Fund monthly payments.
Our funding channels allow you to buy your dream home – with even more choice!
About the Australian Intellectual Property Owner and its Licensing Role
Mortgage Alternative Pty Ltd (“MAPL”) was incorporated in September 2013 and licenses Haigslea Residential Pty Ltd to operate the MA product in Australian residential markets.
Owner occupiers buy homes for owner occupation (called Mortgage Alternative or MA home buying). MA home buyers cannot buy to rent it out (they must live in the property right up to settlement), thus restricting the business to serious home owners and alleviating pressures in the private rental market and generating future property wealth for home owners.
Offering Home Buyers More Home Choices than a Mortgage or Renting
For many years, homebuyers have sought to find the best home loans with the best mortgage rates but have had little choice other than conventional means, like a mortgage through a bank, when it comes to financing a residential property. This in turn has restricted WHERE they could choose to live, and exposed them to often uncomfortable debt levels early in their wealth accumulation journey.
Even with the best home loan rates offered by your bank with your mortgage, a home buyer taking a traditional mortgage is still at the whim of the property markets (and often future interest rate changes), and exiting your mortgage can be difficult if your personal circumstances change. This can be risky, especially if your equity in the residential property you are buying is low.
Consumers are now demanding more mortgage choice and a better way and that’s where we come in. We aren’t an ordinary home loan comparison provider – We are at the forefront of delivering a new method of home purchase and occupation, where unlike under standard mortgage rates, your payments are pre-agreed for up to ten years, there is no debt while your equity in the property is low, there is less downside risk if you need to exit, there is a low up front deposit and a savings plan embedded into your monthly payments and the ability to move in NOW whilst you save your full deposit for a mortgage!
Better yet, in a mortgage comparison on a risk adjusted basis, you enjoy other features that deliver superior home ownership benefits where you are no longer at the mercy of movements in mortgage rates for up to ten years, plus you don’t have to fund mortgage insurance up front!
Now compare home loans to that! A Mortgage Alternative vs home loan comparison will clearly show a Mortgage Alternative product to involve more certain cash flows, be more convenient, and arguably much more flexible for many than a mortgage.
Welcome to Mortgage Alternative. Get the benefits of a home ownership lifestyle without having a massive debt around your neck, and enjoy the peace of mind. Why wouldn’t you?
Keith Burchill
Founder – Mortgage Alternative