DIY real estate agency buyMyplace partners with FlexiGroup arm to offer interest-free credit to sellers

DIY real estate agency buyMyplace Group announced it has entered into arrangements with a financial services group to offer up to six months’ interest-free credit to help customers prepare their home for sale or in covering their sale or moving costs. 

The two products being introduced through through its tie-up with subsidiaries of the FlexiGroup Limited are: 

• Oxipay, a buy now and pay over time finance solution. Customers will be able to use Oxipay to upgrade their buyMyplace package or cover other costs such as conveyancing or property inspections over four instalments. 
• Up to six months’ interest free on purchases of $250 or more via the Lombard 180 card. The facility will allow buyMyplace customers to manage pre-sale expenses such as small renovations, landscaping and other home improvements which may in- crease their sale price, as well as post sale costs, such as moving or costs associated with their next property purchase.

The arrangement is in line with buyMyplace’s aim to become a one-stop property shop, according to its CEO Paul Heath.

“We want to give vendors the best outcome when it comes to the sale of their property and a smooth transition to their next home,” said Heath. 

“House prices are increasing and by giving vendors an interest free option to make improvements to the property they have for sale, or even enabling a renovation to their next home, we can create a better outcome while reducing some of the stress in moving.” 

Heath said that buyMyplace would not profit out of this arrangement as it will not earn any commissions nor pass on any merchant fees to its customers. 

BuyMyplace follows a fixed fee Purplebricks-style operating model. Heath said earlier that vendors would save more than $15,000 in agent commissions through its model.

CEO of FlexiGroup, a top 200 ASX company, Symon Brewis-Weston welcomed the partnership, saying: “It is exciting to be working with leading DIY commission free real estate compa- ny, buyMyplace, to provide its vendors greater convenience as well as an easy transition between properties.