Press Releases Archives - MyBrix the new way to finance or invest in property

MyBrix Launches World First No Interest and No Repayment Property Finance

Sydney, Australia, 22 August 2023: MyBrix, a Sydney based Fintech startup has announced they will commence taking applications for their World First No Interest and No Repayment Property Finance in September 2023, and that initial registrations now open.

The bold innovation that MyBrix brings is expected to be as disruptive to property finance and investment as Uber, Airbnb and Afterpay were to their respective markets. By embracing MyBrix, individuals can regain control of their financial situation and invest for a brighter future, without feeling confined by the limitations of traditional interest-based mortgages.

By Brian Stevens, 11 monthsAugust 20, 2023 ago

Our Frequently Asked Questions

MyBrix is an innovative solution for property finance that breaks free from outdated traditions, therefore those new to MyBrix typically have questions. In this Blog we provide answers to the Frequently Asked Questions (FAQ) for MyBrix Property Owners.

More FAQ's

What is a Brix?

A property is divided into 10,000 Brix, and each Brix represents a piece of the future sale proceeds and rental proceeds of the property. If your home has a market valuation of $1,000,000, then each Brix would be worth $100. Over time as the market value of the property increases so does the market value of Brix.

What is the maximum term of a MyBrix Facility?

The Maximum term you can have a MyBrix facility is 10 years from settlement.

Are there really No Interest and No Repayments?

Yes, once your property is fully funded there is no interest charged and no repayments required, regardless of the amount funded, as long as you are over the minimum equity limits of 35% for Owner Occupied Properties and 30% for Rental Properties. We do, however, encourage you to re-acquire Brix from Investors to create more Brix equity in your property throughout the term of your MyBrix facility.

What is the maximum amount I can Fund?

The Maximum you can fund is 65% for Owner Occupied Properties and 70% for Rental Properties using Standard or Silver Brix. In addition, you can fund up to 90% by filling the gap with Gold Brix. Gold Brix are subject to different terms and conditions and have mandatory monthly buybacks over 5 years.

Refer to our calculators for more information.

Do I have to pay off my existing Mortgage?

Yes, MyBrix will pay out your existing bank mortgage with your bank as part of the conveyancing process once your property has been fully funded.

MyBrix does not provide any financial or other advice, you must obtain your own independent financial, legal and tax advice regarding the appropriateness of using any MyBrix Services, having regard to your personal objectives, financial situation and needs.

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MyBrix is CAR 1304961 for AFS Licence No: 269868

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