This startup offers property technology and finance software that assists young professionals and first-time buyers in overcoming the challenges of accumulating a deposit and securing a traditional mortgage. By simplifying the home buying process, the platform enables clients to achieve home ownership more easily and efficiently.
Funding
$5.8M 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 first-time homebuyers struggle to save for a sufficient deposit and meet the increasingly stringent mortgage requirements of traditional lenders, making homeownership unattainable despite being able to afford monthly rental payments. This situation is exacerbated by rising house prices and slow wage growth.
Solution
Keyzy offers a rent-to-buy program that provides a pathway to homeownership without requiring a deposit. Customers rent a property from Keyzy for a fixed term, typically two years, with a portion of their monthly rent contributing towards a future deposit. At the end of the lease, renters have the option to purchase the home at a pre-agreed price, using the deposit they've accumulated through their rent payments. Keyzy handles the property purchasing process and provides support to renters as they work towards becoming mortgage-ready. This model allows individuals to secure a home and build equity while bypassing the immediate need for a large upfront deposit.
Target Audience
Keyzy primarily targets young professionals, first-time homebuyers, and individuals with limited savings who are seeking a viable alternative to traditional mortgages.
Features
- Zero-deposit rent-to-buy program enabling access to homeownership
- Fixed rental payments for the duration of the lease term
- Guaranteed property price locked in at the start of the lease
- Portion of each rental payment converted into a deposit for future purchase
- Streamlined application process with budget pre-approval
- Support and resources to help renters become mortgage-ready
- Reporting of rental payments to Equifax to improve credit scores