This startup provides a platform that co-invests with property buyers by doubling their savings for home deposits and stamp duty, utilizing an artificial intelligence stress test to evaluate properties. By supplying half of the necessary purchasing funds, the service enhances home purchasing power during a period of rapidly rising real estate prices.
Funding
$3.2M 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.
Founders
Product
Problem
Many prospective homebuyers struggle to accumulate a sufficient deposit and cover stamp duty costs, hindering their ability to enter the property market or upgrade to a more suitable home. This challenge is exacerbated by rapidly rising real estate prices, making it difficult for individuals to achieve their homeownership goals.
Solution
FrontYa addresses this problem by providing a co-investment platform that doubles a buyer's savings specifically for the home deposit and stamp duty, significantly increasing their purchasing power. FrontYa contributes half of the required funds, enabling buyers to afford properties they might otherwise be unable to purchase. The buyer owns the home from day one and can repay FrontYa's contribution, plus a share of the property's appreciation, typically within six years through refinancing or selling the property. FrontYa utilizes an AI-driven stress test to evaluate properties, ensuring prudent investment decisions. This approach allows individuals to buy sooner, access a wider range of properties, and build equity more effectively.
Target Audience
FrontYa primarily targets first-time homebuyers and individuals looking to upsize their homes who have savings but require additional funds to meet deposit and stamp duty requirements. The platform also caters to mortgage brokers seeking solutions for clients facing deposit hurdles.
Features
- Doubles the homebuyer's savings for deposit and stamp duty, increasing purchasing power.
- Provides up to 50% of the required funds for the property purchase.
- No application or ongoing fees, or monthly repayments.
- Homebuyer retains sole ownership of the property.
- Repayment flexibility through sale or refinance within a 6-year period.
- AI-powered property stress testing for risk assessment.
- Online calculator to determine increased purchasing power with FrontYa.