Transparency Behind Our Marketing Claims

When you’re browsing through the Tembo website you will see a number of statistics and claims that demonstrate the benefits of our service. We only include these statistics and claims if they are based on reliable data. We are committed to being fully transparent with these claims and have set out below the source of the data and a summary of any calculations. If you have further queries about the data please feel free to contact us at hello@tembomoney.com

Some stats to support our claims:

'A leading UK mortgage broker' and 'We're the UK's best mortgage broker'

We can support this claim due to winning the Best Mortgage Broker 2022, 2023 and 2024 at the British Banking Awards.

'We advise on over 100 lenders'

We have access to 107 lenders, all of which are listed here

'Access to over 20,000 mortgage products'

Based on standard residential mortgages alone:

7,253 - 70% LTV

7,189 - 75% LTV

3,329 - 80% LTV

3,329 - 85% LTV

788 - 90% LTV

255 - 95%

'Buyers have increased their borrowing by an average of £88,000 with a Boost.'
Based on Tembo customer data from Q4 2024, which shows an average increase in affordability of £87,714 for all Tembo buying schemes versus a “standard” mortgage.

'Join over 60,000 homebuyers. Thousands of first-time buyers and movers have used Tembo to discover how they could buy their dream home.'

This figure of 60,000 is sourced from Tembo's records sourced in March 2024. 'Over 60,000' refers to the number of mortgage illustrations that customers have created, not the number of customers who have got a mortgage with Tembo.

'Average 10 days to mortgage offer'

Based on customer data from applications submitted in October 2024, which shows an average 10 days to mortgage offer.

'We can find a solution for you in an instant'

Customer plans created in June 2024 produced results loaded in 274 ms on plan result.

'Speak to an adviser within 5 minutes' and 'Chat to an expert in 5 minutes'

Based on data from users completing a Tembo fact find, which takes the median user 6 minutes 45 seconds

'People over 50s own over 75% of all property wealth in the UK'

From an article written by Savills: Savills UK | Over 50s hold 75% of housing wealth, a total of £2.8 trillion (£2,800,000,000,000)

'On average, it takes a first-time buyer almost 10 years to save a house deposit.'

The average first time buyer takes 9.6 years to save a house deposit. Source: https://www.theguardian.com/money/2023/jul/03/first-time-homebuyers-now-need-nearly-10-years-to-save-a-deposit-research-finds

'Average income multiple needed to buy a house is almost 10'

The average house prices sit at 10x income. Source: https://theintermediary.co.uk/2023/06/average-uk-home-costs-10-6-times-annual-salary-despite-wage-growth-outpacing-house-prices-wayhome/

'House prices have increased by over 227% since the ‘70s', 'House prices 65x higher in 2021 vs 1970' and 'Wages 36x higher in 2021 vs 1970'

Professor Bobby Duffy, ‘Generations: Does When You’re Born Shape Who You Are?’, 2021, pg. 47

'Millennials are the first generation in history to be worse off than their parent'

Based on data published by the Resolution Foundation, which show that for the first time in more than 100 years the current generation of workers — millennials — are doing worse than the generation before them, Generation X. Source: https://www.businessinsider.com/millennials-uk-first-generation-1800s-do-worse-than-parents-resolution-foundation-2017-2?r=US&IR=T

'Fees are payable once you receive a mortgage offer' and 'You'll never be charged for advice alone'

We only charge a fee on mortgage offer, hence a customer will never be charged for advice alone. As per our terms of business: https://www.tembomoney.com/terms-of-business. No other fees are charged prior to offer.

'Up to £749 depending on circumstances'

Terms of Business states that we charge a fee of up to £749, depending on product and complexity.

'Backed by leading financial brands in the UK' and 'Backed by investment from leading ethical organisations'

Tembo funding is described as follows: We raised our initial investment from Founders Factory, a digital venture investor founded by Brent Hoberman and backed by leading businesses including easyJet, Guardian and L'Oreal. We subsequently raised investment directly from Aviva Group, one of the world’s leading financial services businesses. Aviva were joined by Ascension Ventures and the Fair By Design Fund, an ethical investor backed by organisations including Nationwide Building Society, Joseph Rowntree Foundation, Big Society Capital and Barrow Cadbury Trust.

Articles referenced on our site and owned channels:

• Most mortgage lenders let you borrow up to 4.5x income (Online Mortgage Advisor, 2023)
• 1 in 4 homeowners miss mortgage payments because of illness (Mortgage Strategy, 2021)
• The average first-time buyer in the UK puts down a £57,000 deposit (Halifax) or £130,268 in London