They popped up as an ad on my insta and checked them out. From what I understand they basically "invest" a certain amount into your home in exchange for partial ownership of your home (I have no idea how this works). Seems pretty dodge but maybe someone here has used their service before to explain how it works.

To be clear I'm not planning on taking up a loan or in need of any extra cash or whatever. Was just something that I found interesting but they don't have a lot of info online at all lol.

Suspicious la, looks like you basically pre-sale your house to them and you're forced to return the money back or lose your home (?) in 10 years.

Assuming its genuine platform... Roughly go through and my understanding is... its just similar to refinancing, but instead of term loan monthly instalment, they bet on u for the appreciation and an 'agreed' pay back amount in order to get back ur 100% ownership

I think many cash rich fellows in the market doing such similar practice, i.e. they lend u a chuck of money, with a pre-signed authorization agreement (or similar thing, i dunno in depth). U return money + interest, they koyak the agreement, u failed to return, they 'activate' the agreement

Haha something I'd only consider doing with family members or people I REALLY trust. Apparently if your property depreciates they'll just eat the losses and your buyback would be smaller. But that just feels too good to be true.

I suppose... if property depreciates, u still have to pay them a 'profit', just that they have no earnings on the appreciation part. Hmm, seems this more similar to islamic banking product - Murabahah.

TS... nonono... when comes to money, even family members also can end up to court. Anything related to money, pls just keep to urself OR with proper black & white, i.e. loan with licenses banks

Hahaha oh I don't mean you should, but like if for whatever reason you really do need the money and can't get from a bank (I donno how it would get to that point in the first place), it'd be better with family than ah long or some unknown and unlicensed lender.

Can't say now whether it's legit or not for now, but at least if someone else tries to look up info about the company they'll find this thread and be a little more informed to be wary.

I believe they are only interested in properties free from encumbrances.