A Bermuda-based firm has launched an alternative mortgage peer-to-peer lending platform connecting buyers with investors who wish to fund their loan. In direct opposition with the traditional mortgage space, the firm known as Viva Network considers themselves pioneers and innovators in finance real estate.

Viva says its alternative lending platform is the world’s first private mortgage exchange. The firm believes their service raises the bar so high in home lending, that traditional financial institutions won’t be able to compete.  

With Viva’s platform, investors anywhere in the world can invest in fraction shares of consumer mortgages. The borrower then makes repayments through the platform, while the investor gets their share.

Cryptocurrency at the Heart of Viva’s Platform

The lending platform utilizes a globally connected community employing tokenized debt securities using blockchain technology. At the center of Viva’s platform is a globally connected community employing tokenized debt securities using blockchain technology.

Viva sees tokenization as a considerable upgrade compared to the traditional mortgage model. Per an information release from the firm, anyone with a phone can become a mortgage lender, reap the benefits of compound interest, and exponentially grow their savings. Needless to say, if the platform continues its upward trend, it will be greatly to the detriment of mortgage brokers and banks.  

Lower mortgage rates, transparency, and a more efficient streamlined process are some of the plusses being boasted by the firm, but like any break from tradition, it may take some getting used to. With it being early days, homebuyers may be hesitant about the peer-to-peer platform and feel more comfortable with the more rigid structures of financial institutions, leading to some growing pains for Viva.

However, the sky is the limit for the Viva Network in the eyes of CEO Nick Thomson.

“This platform is a proof-of-concept for Viva’s ground-breaking mortgage lending technology,” the confident CEO beamed.