Co-operty, the pioneering property technology startup that is helping Australians step onto the property ladder sooner via co-ownership, has signed a strategic integration agreement with Effi, the technology-led efficiency platform for mortgage brokers.

These two innovative proptech ventures have embarked on a long-term, synergistic collaboration with the goal of helping more people buy their own home using co-ownership.

Co-operty has already begun referring clients to Effi to find a mortgage broker who can structure the financing for a property that is co-purchased with family or friends.

Now, the parties will commence a deeper level of co-operation focused on technology integration and capability at scale. This means that key features of the Co-operty app will be directly accessible to brokers inside the Effi platform for a seamless experience.

“We really like Effi’s dedication to using technology to deliver more efficiency to mortgage brokers,” said Frank Austin (pictured right), Head of Distribution at Co-operty. “For us, that’s a perfect alignment, because Co-operty uses technology to simplify the process of buying a property together with friends or family,” he continued. 

“Effi’s AI-powered matching algorithm finds the right broker based on the borrower’s individual needs. That’s important for co-purchasing scenarios where, for example, Mum and Dad want to help an adult child onto the property ladder without sacrificing their own retirement goals,” explained Mr Austin.

The Co-operty app helps family members and friends buy property together using the well-established tenants-in-common form of land title registration because of its flexibility, especially with respect to future life stages and estate planning. 

Via the Co-operty app, the co-owners come together in a secure digital space to establish their legal arrangements and engage an expert conveyancer. Co-operty can also help with a property valuation and referral to a financial advisor, as well as a mortgage broker. 

“Buying property with a friend or family member is an interesting option for a mortgage broker to explore with a client who can’t otherwise afford to buy in the current market,” said Mandeep Sodhi (pictured centre), Founder & CEO of Effi. 

“We’re excited for our partnership with Co-operty to deliver the dream of home ownership to more Australians and add value to Effi’s brokers and their clients,” he added.

Later this year, brokers will start to see a suite of co-ownership materials and resources available directly from the Effi platform, including setting up the vitally important co-ownership agreement.

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