Award-winning digital savings and mortgage platform Tembo today announced an enhanced version of its HomeSaver account. From 11 February 2025 all new customers will:
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Earn 4.55% AER (variable), paid monthly, on balances up to £25,000. This includes 3.0% AER variable underlying and 1.55% AER fixed 12 month introductory rate.
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Unlock an additional 1.2% AER (fixed) 12-month bonus when they use Tembo’s mortgage service.
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Combined, this provides a 5.75% AER return for eligible customers.
Best Mortgage Deal Guarantee for Tembo HomeSaver customers
Tembo prides itself on offering the best specialist mortgage advice to customers with access to over 100 lenders. HomeSaver customers will benefit from Tembo’s Best Mortgage Deal Guarantee. If a better mortgage deal is found elsewhere through another whole-of-market mortgage intermediary, Tembo will pay the difference.
Mortgage advice from Tembo’s award-winning team remains completely fee-free for all HomeSaver users.
Richard Dana, Founder and CEO at Tembo, said: “We launched the HomeSaver product in October last year. The response has been better than we imagined, especially when you consider it’s a brand-new concept and doesn’t fit neatly into existing savings product categories.
The idea is simple. We run a savings and mortgage business. We speak to thousands of customers every week who are saving toward a mortgage milestone. That might be a first-time buyer stashing enough aside for a deposit, a family saving to move from their one-bedroom apartment to a place with a garden, or a homeowner hoping to overpay and reduce their debt when they remortgage.
We believe that these customers deserve an outstandingly good savings rate from us while they work towards that mortgage milestone.
So, instead of handing cash to Facebook and Google through our marketing budgets, we’re giving this money directly to our customers through our HomeSaver bonus. A Tembo HomeSaver customer can earn an additional £300 if they choose to use our mortgage service.
And we offer this service free to Tembo Savings customers, a further saving of £499. With the highest savings rates on the market and some of the highest-rated service levels too (4.9 across over 7,500 reviews across Google & Trustpilot) this product offers truly amazing value. And if for whatever reason customers don’t use the mortgage service, their savings will be earning a market-leading 4.55% AER rate”