Skip is a non‑bank Australian lender that offers home loans with as little as a 2% deposit, eliminating lenders mortgage insurance, upfront fees and ongoing charges. It provides variable‑rate mortgages for first‑time buyers, existing owners and investors, supporting purchases, refinances and cash‑out options up to 98% loan‑to‑value. Revenue is generated through interest on the loans, with the business model focused on low‑cost, high‑LVR products and fast digital approvals.
Funding
$7.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ZCFounders
Product
Problem
Many young Australians struggle to enter the housing market due to the significant deposit required and the added expense of Lenders Mortgage Insurance (LMI). Traditional lenders often require substantial upfront costs, making homeownership inaccessible for those with limited savings.
Solution
Sucasa provides home loans designed to overcome the deposit hurdle, offering up to 98% loan-to-value (LVR) ratios without requiring LMI. By eliminating LMI and reducing upfront fees, Sucasa enables eligible borrowers to purchase homes with minimal savings. Sucasa's approach allows customers to avoid the need for family guarantees or equity sharing, enabling them to build wealth through capital gains. A dedicated Home Loan Specialist guides each customer through the application process.
Target Audience
Sucasa primarily targets young Australian families and first-time homebuyers who have limited savings for a deposit and seek to avoid LMI costs.
Features
- Home loans up to 98% LVR, enabling purchases with low deposits
- No LMI, significantly reducing upfront costs
- Competitive interest rates
- No income caps or price limits
- No equity sharing or family guarantees required
- Online application process with dedicated Home Loan Specialist support
- Refinancing solutions available, including debt consolidation