“Some people use a Midkey for cost-of-living issues, such asfunding school fees. Other people have wanted their Midkey to finish off arenovation, or to start a new business, or for consolidating debt. We’ve hadsome self-employed people with businesses paying off their big GST claims. So, there’s an extraordinarily diverse [set of] use cases for the Midkey,” said Richard Young, Co-Founder & Co-CEO.

“Even when interest rates are low or decreasing, there are still homeowners that have seen the value of their properties increase more than their incomes. So, they are typically, in those scenarios, not able to access traditional debt funding but they still will want to release some equity in their homes,” said Scott Collison, Co-Founder & Co-CEO.

Also discussed:

How the Midkey NO MONTHLY PAYMENTS loan requires no repayments until the borrower either sells their home or makes a voluntary repayment.

How the Midkey Deferral Fee at the end of the loan is a proportion of any increase in the value of the property.

How borrowers from all age groups can take out Midkey loans as first or second mortgages.

The very large problem Midkey is solving for the first time, helping Australians unlock substantial equity in their homes whether they have an income or not.

Midkey’s significant and unique opportunity, tapping into a market that is in the tens of billions of dollars in size.

How Midkey is an asset manager that raises money from offshore institutional investors who are happy for Midkey to on-lend it to borrowers for long durations in some cases.

How relevant Midkey loans remain in any interest rate cycles, increasing and decreasing.

‍Watch the full interview (7.49min).