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Background: Greenstart is a private company established in 2000 with the aim to provide affordable housing finance for the millions of South Africans in the Greenstart defined income bracket of individuals earning less than R 10,000.00 per month. Greenstart is a mortgage lender who finances its mortgage bonds amongst other through the National Housing Finance Corporation (NHFC), through private shareholders funding and through external institutions such as banks.
Our Mission: We provide South Africans the opportunity to own a housing unit. We do this through: · Competitive Interest Rates · Strategic Partnerships · Our Innovative Approach · Operational Excellence · Service Excellence
Strategic Partnerships The challenge is, as the Minister rightly says, “an enormous one”. In isolation delivery at scale will not happen. Without strategic partnerships sought and entered into our defined target market will never be able to access Greenstart finance to become a home owner. These strategic partners include: · Employers owning housing stock prepared to promote private home ownership amongst their employees · Employers prepared to introduce and communicate the availability and access to housing finance amongst their employees · Bond Originators and Estate Agents who to date were unaware of the Greenstart Home Loan products available to our defined target market · Developers who generally do not supply housing products for the defined target market · Local Authorities tasked to deliver housing solutions The partnership relationship includes that Greenstart is not regarded as financier of last resort.
Our Innovative Approach Greenstart has broken the traditional access barrier chains of bad listings on credit bureaus and geographical area classifications. Our property valuations, done by sworn valuators, only play a role to ensure that the borrower is not exploited. “Red Line Areas” however do not form part of the Greenstart approach. Greenstart do not apply percentage exposure in an area or a specific development or minimum value of bonds granted. Greenstart looks at the client’s employment as the primary risk reduction mechanism. This means that anyone in permanent employment with a stable employer and a regular source of income has, for the first time, a very real opportunity of owning his or her own home. The prospective household’ ability to afford a home is crucial – We do not subscribe to over extension of the house hold. Greenstart further issues Letters of Approved finance even where no property is identified – This enables the estate agent or employer who has a prospective buyer or employee to find and identify a suitable property.
Operational Excellence We subscribe to service levels with all strategic partners and our virtual distribution network. Greenstart will, within 48 hours, supply feedback on applications submitted. General enquiries addressed to info@greenstart.co.za are answered within 24 hours and all telephonic enquiries are dealt with through our call centre personnel who are able to communicate in the preferred language of choice. Our service levels are easier met through Greenstart specific training for HR and Housing Departments of Employers, Bond Originators, Estate Agents Principles and their agents.
Service Excellence We interact frequently, on different levels and we use different ways and means when we deal with prospective home owners and our strategic partners. This amongst other includes our referral of Greenstart clients with approved finance to Estate Agents, registered with Greenstart, to find properties in the preferred area where the home owner wants to stay. At the choice of Estate Agents, they can register with us and are then entitled to submit applications directly to us without the necessity of working through a Bond Originator. Acting in such capacity, the Estate Agent can maximise his return on any transaction. Although we have 76 established branches country wide servicing specific areas, our distribution is virtual. To make a meaningful impact, things need to happen at scale and at pace. In order to achieve this Greenstart has developed customised software to assist the broader virtual distribution network to submit applications electronically and in the process the distribution network is supplied with the latest updated information and the progress made on any application submitted. The software is available to selected partners in our virtual network. |
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