Shared 6 February, 2024
We’ve got some exciting news to share! Today, we can officially announce that we have acquired the award-winning Lifetime ISA provider Nude. At Tembo, we are focussed on building an industry-leading homebuyer platform for buyers and remortgagers – providing our customers with the fastest and most financially efficient route to homeownership.
Nude’s mission aligns perfectly with our own – to help first-time buyers save up for a house fund sooner. This acquisition is the next step for us in helping more home buyers become homeowners. Together, we can continue to make home happen for the next generation, supporting our customers from the moment they start saving, all the way until they buy their first home.
Why have we acquired Nude?
Building up a deposit is one of the biggest hurdles first-time buyers face when it comes to getting on the ladder. Saving for your first home can take years – 10 years on average, to be exact. The average first-time buyer deposit now comes in at over £53,000 – an eye-watering sum, which is harder than ever to reach with cost of living pressures and rising rent.
Nude is making it quicker and easier for customers to put money aside for their first home. Their award-winning app enables customers to set savings goals, track spending and benefit from the government’s LISA bonuses. But that’s not all. With their proprietary, AI-driven insights, you can discover ways to cut down your time to buy, so you can be in a place of your own quicker.
We have been partners with Nude for a number of years now, and the acquisition was the natural next step. Our audiences are one and the same – we’re both trying to help first-time buyers get a place of their own, sooner. By embedding the Nude product into Tembo’s technology platform, we can support more buyers than ever into homeownership, from the first £1 saved all the way to getting their keys.
