Helping borrowers to get ‘mortgage-ready’ is the idea behind a new app called Klink.
Mortgage Solutions spoke exclusively to Simon Groll, who heads up Keyzy, the company behind the app, to find out what the tool hopes to achieve.
He explained that the app is part of Keyzy’s core mission to “make homeownership more accessible”.
Restricted affordability data
This follows official data that revealed that homeownership is increasingly out of reach, costing almost nine times an average salary.
The Office for National Statistics (ONS) revealed that the affordability ratio across the country now stands at a massive 8.6 due to soaring house prices.
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It is based on 2023 figures, with the average price of a home being £298,000, while annual disposable income – after taxes and benefits – was £35,000.
Digital coach for aspiring homeowners
Groll said: “We are launching Klink, a mobile app dedicated to helping more prospective homebuyers get mortgage-ready.
“Klink is essentially a digital coach for aspiring homeowners, providing tools, insights, and motivational features to help young professionals strengthen their financial profile and move closer to buying their first home.”
Smarter financial decisions
He said the app goes beyond a traditional savings app, which rewards users for improving their financial health.
It provides spending insights, mortgage readiness scores, educational resources, and even gamified challenges.
He said: “Klink motivates users to make smarter financial decisions that directly impact their ability to secure a mortgage.”
He insisted that Klink does not mark a change of direction for the company as a whole.
Keyzy remains committed to its rent-to-own model, which helps people move into their future homes.
It buys homes and then gives people equity through rental payments.
Groll added: “Klink is a complementary solution that addresses a critical need we’ve identified – helping more people prepare for homeownership by understanding and improving their financial profile.
“We are experiencing strong momentum in our core business, with a growing portfolio of properties and an increasing number of residents successfully transitioning to homeownership through our unique rent-to-own model.
“Our proprietary approach continues to differentiate us in the market, offering fixed rate rental payments and a clear path to building a deposit.”
He added: “Klink is an exciting extension of our mission, allowing us to support even more aspiring homeowners by helping them understand and improve their financial journey to homeownership.”
