Zero Deposit has announced a significant investment from Kinleigh Folkard & Hayward (KFH).

The 60-branch London property services group sits alongside Andrews as new property agency investors and joins existing shareholder agencies including Connells, LSL, Acorn Group, Knight Frank, Zoopla, along with range of financial investors as part of the government-backed future fund.

Paul Masters, group operations director at KFH, said: “We’ve partnered with Zero Deposit since June 2018 so have witnessed first-hand the demand for the product and the value it provides to our lettings branches.

“The positive trajectory of the deposit replacement market will only accelerate and backing Zero Deposit helps us to capitalise on that, while ensuring landlords and tenants have the security of a market leading product.”

This latest investment from KFH, as well as the addition of new partners in the last six months, means that Zero Deposit currently works with more than 75% of the nation’s top 50 letting agents who have selected a deposit replacement partner.

Sam Reynolds, Zero Deposit’s chief executive officer, commented: “We see daily examples of how moving with a Zero Deposit Guarantee makes renting easier, faster and fairer. Working with KFH and their enhanced market presence in London makes that a reality for even more landlords and tenants.”