Tembo Launches Lifetime ISA Bonus to Boost First-Time Buyers’ Deposits
18 August 2025
Tembo’s Cash Lifetime ISA now rewards savers with 1% of their ISA value when they purchase a home using its free mortgage service
- Tembo’s new 1% offer is the only one of its kind and is available to both new and existing customers
- The Bonus rate will be 1% on top of the underlying interest rate of 4.10% (AER Variable) and will be paid after completion of a customers home purchase, to their nominated bank account
- To be eligible, customers must open a Tembo LISA by 25 September 2025, and use the offer by 30 September 2026
- Tembo Savings customers can use Tembo's mortgage service for free, saving up to £749 in fees
London 18 August 2025 - Award-winning digital savings and mortgage platform, Tembo, today announced it has launched a new Lifetime ISA Bonus. From August 11th 2025, Tembo customers who save with a Lifetime ISA (LISA) and use Tembo’s free Mortgage service will receive a 1% bonus of their LISA value towards their home purchase. Tembo savings customers also benefit from access to fee-free mortgage advice from Tembo’s award winning mortgage brokerage - saving them up to £749 on the standard fee.
LISA holders with deposits with other providers are able to sign-up to the Tembo Savings & Homebuyer app and set up a transfer from their existing provider. It takes under 10 minutes to set up a Tembo LISA account and request a transfer from an existing provider.
According to Tembo’s own customer data*, first time buyers who use a Lifetime ISA (LISA) are on average four years younger than those who do not. The reduced time to buy saves an average of £1,500 on mortgage interest for LISA savers.
Tembo’s Mission
Since launching in 2020, Tembo’s primary mission has been to help people buy their first home sooner. With average UK house prices now £268,400, saving for a deposit is a huge challenge for many first time buyers - according to Halifax, the average first time buyer deposit in the UK is over £50,000. Tembo now offers the most convenient single platform for customers to save towards this goal and then arrange a mortgage and take their first step onto the property ladder.
Richard Dana, Founder and CEO at Tembo said:
“With mortgage rates easing and house prices holding steady, the outlook for first-time buyers over the next year is looking brighter. Our new Tembo Lifetime ISA Bonus offers an extra helping hand to those aiming to get onto the property ladder in 2026.”
*Tembo analysed data of 3,894 of its customers who bought their first home from 1 March 2023 to 29 February 2024.
