Locations
New South Wales, Australia · Melbourne, VIC, Australia
industry
Finance
Size
1 - 10 employees
Stage
Seed
founded in
2021
Our Leg Up (OLU) unlocks residential real estate equity to enable banks to offer market-leading home loans with reduced risk and improved margin. Australians hold the majority of their wealth (54%) in real estate equity - a sum larger than both the ASX and AU Superannuation. OLU unlocks this wealth for partner banks as a force for good, enabling the delivery of more competitive loans for customers, while reducing risk and cost. For property owners unlocking their real estate equity (investors), they earn a return on real estate equity without any cash outlay. With OLU, partner banks can remove the biggest hurdle to homeownership by lowering borrower deposit requirements to 5%, while still achieving 80% LVR with OLU’s solution. Customers therefore borrow at a lower LVR, thus benefiting from the bank's prevalent interest rate (which can be 30bps - 150bps less). This lower interest rate restores their borrowing capacity by 5% - 20% (compared to the high LVR assessment rate).
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