Renting Helped Us Buy Our Home - Here's How

James and Olivia’s conversational journey from renters to homeowners.

James (32, paralegal) and Olivia (30, keyworker) had always planned to buy a home. Like many first-time buyers, they found saving for a deposit to be a significant hurdle, especially while balancing everyday expenses and other financial priorities.

“We felt stuck in a cycle of renting, unable to save enough for a deposit to start the homebuying process.”

Their situation changed when they discovered Keyzy’s rent-to-own option - a model that allowed them to work towards ownership while living in the home they loved.

No Deposit Required

One of the biggest barriers for James and Olivia was the large deposit typically required for a mortgage. With Keyzy, they didn’t need to have a deposit saved upfront. Instead, up to 100% of their monthly rent payments were converted into their deposit.

They paid £2,450 per month in rent over two years. After 24 months, this amounted to £58,800, which became their deposit towards buying their first home. When they were ready to buy, the pre-agreed purchase price was £505,000, so this rent-turned-deposit significantly lowered the mortgage amount they needed to borrow.

“This allowed us to keep our savings intact while still progressing towards owning our home. We even invested some of that cash to make improvements to the property.”

A Smooth Transition into Homeownership

The couple described the process as surprisingly straightforward. Unlike traditional buying methods that often involve complicated paperwork and frequent communication with multiple parties, their experience was seamless.

“We had minimal contact during the conveyancing process - mainly just with the estate agent. It made moving in stress-free, and soon we were making the space our own with new carpets and fresh paint.”

Renting That Builds Equity

Previously, their rent was simply an expense with no long-term benefit. Through the rent-to-own model, their monthly payments were working towards equity in their future home.

“It was reassuring to know that what we were paying each month was contributing to our ownership, not just someone else’s investment.”

Additionally, Keyzy’s use of Open Banking to assess affordability was beneficial for James, who is self-employed and doesn’t have traditional payslips.

“It made the application process easier and more reflective of our true financial situation.”

Making the Home Their Own

With the security of future ownership, James and Olivia felt empowered to make meaningful improvements, from updating flooring to planning potential extensions. They moved from simply renting to truly investing in their home environment.

Conclusion: A New Path to Homeownership

For James and Olivia, Keyzy’s rent-to-own model provided a viable, accessible alternative to the traditional mortgage route. It allowed them to overcome the common challenges of deposit saving, credit requirements, and employment status while moving confidently toward owning their home.

If you’re currently renting but dreaming of ownership, rent-to-own could offer a practical solution to turn that dream into reality, without the usual upfront barriers.

View new properties at keyzy.com/properties today.