CBA, an Australian bank, partners with Coposit, a property tech platform, to accept pre-sale contracts with a minimum deposit of $10,000 for off-the-plan properties.
Coposit allows buyers to pay the remaining deposit in interest-free installments during construction.
This initiative aims to tackle housing affordability and undersupply issues, helping first-home buyers secure purchases without a large upfront payment.
Coposit also benefits property developers by including these sales in their pre-sale requirements for financing, facilitating better lending outcomes and increasing housing supply.
ASX Code: CBA