1
168
Idea Overview:
Paying extra off the mortgage by saving the tiny amounts squandered each day.
Who might use it/where it might be used?:
Using the principle of compound interest to encourage people to make tiny payments as additional sums against the balance of their mortgage. Ideally taken up by a bank in partnership with a major retailer
The Market:
Business to Consumers (B2C)
Sector the idea belong to:
Finance & Payments
Why you think there is a demand for your idea?:
The attached presentation shows how making tiny payments - and encouraging habits of choosing expenditure carefully and effectively recycling - can knock years off the average mortgage.
Who would be the ideal customers?:
Anyone with a mortgage who wants to be free of it earlier.
What ideas do you have to reach these customers?:
Partnership with a mortgage provider would allow this to be offered directly and at low or no cost
How far have you developed this idea:
Offered to a couple of smaller banks who showed interest but didn't take it further.
What – if any – feedback have you had for this idea so far?:
See above
What supporting material – if any - would you like to add to your proposal?:
See presentation

More Details

You must be logged in to access this information.

Supporting Files

You must be logged in to access this information.

Has one comment to “Coffee Break Mortgage”

You can leave a reply or Trackback this post.

  1. oprolevorter - September 9, 2019 at 3:31 am Reply

    Some truly great information, Sword lily I noticed this.

Leave a Reply

Your email address will not be published.