Tembo launches HomeSaver™: 5.5% savings account for homebuyers and remortgagers
Getting on, moving up or just staying on the property ladder can feel like an uphill battle. With rising house prices and sticky mortgage rates, getting the mortgage you need can feel daunting.
We’ve helped thousands of people in the UK to take out a mortgage, so we understand these challenges deeply. That’s why we are thrilled to announce the launch of Tembo's new HomeSaver™ - a savings account designed to reward first-time buyers, next-time buyers, and remortgagers when they save and secure their mortgage through Tembo.
Earn a market-leading 5.5% AER (variable) on your savings
Open a HomeSaver to earn 5.5% AER (variable) on your savings, unlocked when you use Tembo’s award-winning mortgage service.
What is the HomeSaver Account?
The HomeSaver account is a first-of-its-kind savings and mortgage solution rolled into one. It’s designed to give your savings a serious boost while you prepare to buy or remortgage your home. We've combined a competitive savings rate with our award-winning, fee-free mortgage service to create a simple, powerful platform for your homeownership journey.
This account is built for everyone: whether you're a first-time buyer saving a deposit, a current homeowner looking to remortgage, a buy-to-let investor or you’re planning your next move.
How you can earn a market-leading 5.5% AER
The standout feature of the HomeSaver savings account is its market-leading 5.5% AER (variable) interest rate. With the best savings accounts currently offering up to 4.5%, HomeSaver offers a much-needed boost for first-time buyers trying to save a deposit, remortgagers facing higher interest rates, or movers looking to move up the ladder.
Here’s how you can earn up to 5.5% AER on your savings:
- A solid foundation: You’ll start by earning a 3% AER (variable) on your savings. This rate is competitive on its own, ensuring your money is working hard for you.
- The ‘Tembonus’ boost: Over the first 12-months, you’ll build a bonus of 2.5% AER (fixed). When you use Tembo’s mortgage service to buy or remortgage your home, we’ll pay the bonus into your HomeSaver account way of rewarding you using us throughout the journey
- Putting it together: The initial 3% AER combined with the 2.5% AER ‘Tembonus’ brings your total potential earnings to 5.5% AER (variable) in the first 12-months.
More than just a savings account
We created HomeSaver to address the real-world obstacles our customers face. As interest rates fluctuate, building a deposit has become more difficult, putting pressure on mortgage affordability. While for homeowners, sticky mortgage rates, house price rises and stamp duty changes can impact their ability to remortgage or move to a new home.
The HomeSaver is our answer to this problem, designed to give savers a competitive edge.
In the words of our CEO and co-founder:
“Tembo’s mission is to help people buy their home sooner. With HomeSaver, we’ve combined savings and mortgages into one simple product that gives customers more value for every pound they put aside. By combining a market-leading savings rate with our award-winning mortgage service, free to all savers, we’re giving buyers and remortgagers an added Tembonus to help them on their way.”
Richard Dana
CEO and co-founder of Tembo
Your journey to homeownership should be supported by experts you can trust. That's why the HomeSaver account comes with additional benefits to give you confidence and peace of mind.
Best Mortgage Deal Guarantee
As the UK's Best Mortgage Broker (as voted by our customers four years running), we're confident in our ability to find you the best mortgage deal for you. That's why our HomeSaver account comes with our new and exclusive Best Mortgage Deal Guarantee. If you find a better deal elsewhere, we will either pay you the difference or pay out your Tembonus without you needing to use our mortgage service.
Best mortgage deal guarantee subject to T&Cs.
Fee-free, award-winning advice
Navigating the mortgage market can be complex. As a HomeSaver account holder, you will receive totally fee-free mortgage advice from our award-winning team of mortgage experts. We are here to guide you through every step of the process, from understanding your borrowing potential to securing your mortgage offer.
Fee-free mortgage advice is subject to eligibility; T&Cs apply.
Helping you buy sooner
Since we launched in 2020, our primary mission has been to help people buy their first home sooner. The average UK house price now stands at £271,000, and with the average first-time buyer deposit exceeding £68,000, the financial hurdle is significant.
Tembo now offers the most convenient single platform for customers to save toward this goal, arrange a mortgage, and finally take that first step onto the property ladder.
Buying or remortgaging in the next 3 years? Get 5.5% AER (variable) on your savings now
Open a HomeSaver account to start earning a market-leading savings rate on your savings and get fee-free access to our award-winning mortgage service. We’re so confident in what we do, we back it with a Best Mortgage Deal guarantee.
