Apricot
Homeownership for the underserved.
Each year, 520,000 UK renters are rejected for mortgages due to past financial mishaps.
We are a home finance solution that helps these individuals on their path to home ownership through a rent-to-own model.
Our customer sources their dream home, which we buy and rent back to them. Each month we contribute a portion of rent towards their deposit, and once they are mortgage-ready they purchase it back from us at a pre-agreed price.
We have 5,000+ people on our waitlist. From a 1,100-person test group, we have received 230+ applications and 51+ verbal commitments. We also have terms for a £30M debt facility. In March 2022, we won the Investment category at Startup Competition at MIPIM, the world’s largest property conference.