YES!! A Payment Plan for property!
Buy property with a payment plan without the hassles of a finance application or interest charges.
Why wait? Get on the property ladder today!
It’s possible with bricklets.
Get more information
Own it upfront. First payment of
10% + transaction costs. With your
name on the land title.
Pay over 18 months.
No interest charged, ever.
Automatic payments keep things
Looking to get on the Property Ladder?
The Bricklet marketplace allows buying and selling of property “fragments” that cost a fraction of the cost of a whole property. The wait is over!— So how does it work?
Property titles are fragmented into smaller pieces we call “bricklets” and each “bricklet” is registered with the lands title office …. Simple! It's like buying a whole property, just smaller pieces.
For example, with a $400,000 apartment, the title of the property is broken up into 20 ‘bricklets’, which sell for $20,000 each. You could purchase a diverse portfolio of bricklets across Australia for less than the price of one individual property.
Sam, owner of 6 bricklets
I used to own one whole investment property, which caused me endless frustrations of dealing with tenants, real estate managers and even the neighbours. Now that my property holding is in bricklets I have a simple interface to review my property wealth.
Roland, owner of 6 bricklets
When I needed to bolster my cashflow I simply sold one of my bricklets. Imagine selling property without the hassle of appointing a real estate agent and conveyancers! Instead I simply listed one of my bricklets for sale on BRICKLET’s marketplace. Next thing I had the cash in the bank.
Jessica, owner of 3 bricklets
Love it that I can see how my investments are performing from the single BRICKLET interface. Also makes it easy as when it comes to filing my tax returns.
BRICKLET is backed by
- Will I receive rental income during my payment period?
Yes, you will receive rental income throughout the payment period if the property is tenanted.
- Are the properties available Australia wide?
Currently, the payment option is available on properties in Melbourne, Brisbane and Sydney and we’re working with property developers to add other locations soon.
- Is the payment plan available with any property on the BRICKLET platform?
The payment plan for bricklets is only available on certain properties.
- Who has overall control of the property?
As with all properties fragmented through BRICKLET, property management is provided by independent property management companies that have been approved and integrated into the BRICKLET platform.
All bricklet owners are registered on the property land title, giving them total control of their bricklet independent of other bricklet owners.
- Why is this payment plan reserved for certain bricklets?
Property vendors have ultimate control on how they sell their property fragments through the BRICKLET platform. As such, it is up to the vendor to choose whether they would like to offer the payment plan for the bricklets they are selling.
BRICKLET is only responsible for the transacting of the property fragments.
- What happens if you are late for a payment?
Customers will be sent reminders from the vendor when payments are due.
- What happens if you can no longer make your payments?
The vendor will work with you to understand your situation and come up with an alternate plan. You may be subject to having their Bricklet sold to pay off the remaining payments.
- What are the different payment length options for the payment plan?
Payment plans are typically structured over 18 months. The full remining amount of the payments can be made at any time.
- How do the payments work?
The initial upfront payment is 10%. Followed by 18 monthly payments of 5% of the bricklet price. Totaling 100%.
- What other fees do I need to pay for Buy Now Pay Later bricklet and what do they cover?
BRICKLET does not charge any fees to use the payment plan. However, like all property, when buying a bricklet the purchaser will be required to pay conveyancing fees, stamp duty and other property related costs which equates to 6% of the bricklet price.
- How are payments collected?
Payments are collected via vendor, usually by automatic direct debit.
- Who is providing the payment facility?
Payment plan is offered by the property vendor.
- Is this product an interest free loan?
This is not a loan product. It is a payment plan with zero interest incurred.
- Do I have to wait until I have finished my payment plan?
You can sell any time. Using the proceeds to pay the remaining balance.