Novathink, Thinkmint unveil green mortgage
Novathink Investment & Technology Limited, in a partnership with Thinkmint Nigeria, has unveiled a green mortgage system aimed at simplifying mortgage processing in Nigeria.
In a statement, it was noted that the official launch of Green Mortgage, Nigeria’s first online mortgage processing and approval platform, was about time, the most needed tool for easy home ownership in Nigeria.
It stated, “This follows a successful beta phase with over 20 mortgage companies and the Family Homes Funds. Green Mortgage seamlessly integrates loan origination systems and documentation systems, providing home buyers with a comprehensive, all-in-one solution to revolutionise the mortgage journey from start to finish.
“With Green Mortgage, we’ve combined LOS & documentation processes into a single, streamlined platform, enhancing the entire mortgage journey for mortgage originators and borrowers alike,” said Imelda Usoro Olaoye, co-founder and CBO. “By helping thousands of people secure mortgages through www.thinkmint.ng/buyrealestate, we gained deep insights into the often disjointed and complex nature of mortgage systems. We experienced firsthand the frustrations of countless paperwork, unclear interest rates, and processing downtimes. Thus, Green Mortgage was built to solve these problems by creating a seamless, modern solution for the entire industry, including borrowers and mortgage professionals alike.”
Speaking on the product, the co-founder and chief strategy officer of Novathink Investment & Technology Limited, Noah Ibrahim, stated that as a long-standing real estate developer, he had seen firsthand the gaps in mortgage facilitation in Nigeria and how an effective mortgage ecosystem would ensure timely project delivery and the eventual provision of sustainable housing developments, thus reducing the growing housing deficits in the nation.
He said, “I have never been as excited about a product as I am about Green Mortgage. The mortgage industry has long grappled with outdated and disconnected systems, often requiring mortgage professionals to juggle multiple tools to manage a single loan.
This disjointed process can result in high costs, inefficiencies, and frustration for originators and consumers alike. Green Mortgage addresses these challenges head-on by offering a unified platform that simplifies the origination process, enhances productivity, and reduces costs.
“Key features of the Green Mortgage platform include competitive interest rates—enjoy affordable rates that make homeownership within reach; payment options—choose a repayment plan that suits your financial situation; an easy application process—get started with less paperwork and no complicated procedures; a faster approval time—get your mortgage approved in no time so you can move into your dream home sooner; exclusive partnerships—access special deals and discounts from our trusted real estate partners.
Having successfully raised a pre-seed fund of 100,000 dollars following two pitches to investors in October 2024, Green Mortgage is set to revolutionise mortgage origination by automating the nuanced processes, reducing costs for originators, minimising errors, and ultimately providing a better experience for consumers. With Green Mortgage, we are proud to be at the forefront of this transformation, streamlining workflows and relationships with tools that bring mortgage loan origination into the modern age.”
The Chief Executive Officer of Thinkmint Nigeria, Imelda Olaoye, stated that his deep understanding of the industry, honed through the success of a successful real estate marketing platform, which has facilitated several billion naira real estate transactions, emerging as one of the fastest-growing businesses in Nigeria since its inception in 2020, uniquely positions it as a partner in this venture to address the complex challenges of mortgage origination.
He added, “On green mortgages, high interest rates, limited access to long-term funds, and tough eligibility criteria have made mortgages less accessible to many aspiring homeowners. However, with innovative mortgage products like Green Mortgage, owning your dream home is now easier than ever.”
