A globally unique private partnership hoping to revolutionise home ownership in the UK has begun spending £130 million on 250 properties in Greater London that will in turn be ‘sold’ to first time buyers on a rent-to-own basis.

Keyzy launched its home ownership model in May 2022 but it has taken a further three years to get the concept off the ground, onboard the first tenants and now, secure significant financial backers to scale it up.

They are Crayon Partners, a real estate private equity firm specialising in alternative living sectors, which has offices in London, Paris and Luxembourg.

The scheme is targeting young professionals and key workers in London – and later beyond – and the first £30million is being used to buy three property portfolios, with the first deal being inked next week in North London, mostly two and three bedroom properties.

Mathias Flattin (main image, right), co-founder of Crayon Partners, says: “Together, we underwrite applicant profiles using AI-driven scoring and open-banking data, and we also provide a financial coaching app to help tenants progress toward mortgage eligibility.

“Residents move in immediately and sign a fixed-term lease of typically two to four years.

“Their monthly payments count toward their future deposit if they choose to exercise the purchase option. This creates a path to ownership without locking them in.”

Keyzy says it wants to help the growing number of renters in the UK who have a diminishing chance of getting on the property ladder given both spiralling house prices and rents and higher interest rates.

“We are more eager than ever to reimagine home buying in the UK. We’re ready to make large-scale acquisitions across London to provide a diverse range of future homes to our applicants,” says Jeremy Matallah (main image, middle), Keyzy’s co-founder alongside Simon Groll (main image, left).

Prior to the Crayon Partners deal, Keyzy had already signed up a first co-hort of renters, many of whom are now ‘graduating’ to home ownership.