Increase the size of your house deposit with help from your family

What is a Deposit Boost?

A Deposit Boost is a safe & ethical way to unlock money from a family member or friend’s property to top up an existing house deposit or create one from scratch.

Let’s see if you’re eligible for a Deposit Boost

What are you looking to do?

Deposit boosters are:

  • Willing to help the buyer

  • A homeowner already

  • Able to get their boost back

Deposit boosters are not:

  • Liable for the buyers’ mortgage

  • Listed on the deeds

How a Deposit Boost works

home

So let’s say your dream home is £200,000 but you only have a £5,000 deposit

booster

Booster

With Tembo and an eligible booster, we could get you that home.

booster

Buyer

Your Booster wants to help you get to a 15% deposit

But without the cash to hand, they turn to Tembo. Our family mortgage specialists assess the Booster's eligibility and recommend the best way to unlock money from their home with a Deposit Boost.
See the available options.

They release £25,000 from their property and gift it to you

As the Deposit Boost is in their name, the Booster is legally responsible for monthly payments. Any arrangement for the buyer to pay this back to them is a personal agreement between the family.
Find out how much repayments could be.

With your £30,000 deposit, we find you a great mortgage to buy your home

A bigger deposit means lower interest rates, and we compare thousands of products to get you a great deal on your mortgage.

Your Booster has helped you get on the ladder!

Plus, the funds from the Deposit Boost are legally gifted, meaning your Booster could reduce their inheritance tax liability. You could return the £25,000 further down the line depending on your circumstances

Neither Tembo nor PRIMIS is able to provide taxation advice. Should you require advice on taxation matters, you should consult with a suitably qualified professional.

Time to enjoy your home!

Let’s see a Deposit Boost in action

Discover how Alex was able to get on the property ladder with the help of his mum, Sally.

Check your eligibility

Boosters, there are a range of options available to unlock the Deposit Boost

Retirement Capital Repayment

  • For Boosters with good income, aged 55+
  • Higher monthly payments as the Booster pays capital and interest back each month
  • Rates typically 2.5%-3.99%
  • Repaid at the end of term

Retirement Interest-only Repayment

  • For Boosters over 55
  • Lower monthly payments as the Booster only pays interest each month
  • Rates typically 2.5%-3.99%
  • Typically there is no end term, but Boosters can repay the loan after a fixed period if preferable

Standard Remortgage Repayment

  • For Boosters with good income, usually under 55
  • Choose between capital or interest-only monthly repayments depending on your preference
  • Rates typically 1.5%-2.99%
  • Repaid at the end of term (usually when the Booster is 75-80)
hands-logo

Tembo can get first time buyers on the ladder instantly.

On average, it takes a first-time buyer 7 years to save a house deposit. That's based on saving 20% of each month's salary.

You would need to save for

8

Years

10

Months

to buy without Tembo

£
£
hand-logo

The bigger the deposit, the lower the interest fees.

Our average Deposit Boost user saves £14,000 over 5 years in interest fees alone! More money for your family, less for the banks.

Interest paid over 5 years

£14k

5%

£12k

10%

£10k

15%

£8k

20%

£6k

25%

Deposit

An alternative way to access the funds you need.

Monthly payments start from as little as £22 to access £10,000. Plus, our mortgage brokers will run affordability checks for the Booster to be sure the Deposit Boost is suitable.

£22

per month*

Based on a 2.59% interest rate

*Numbers shown are calculated based on a Retirement Interest Only Deposit Boost. They are illustrative only and do not constitute advice.

Keep in mind...

There will be debt against the Booster's home

  • As with any mortgage, there is a risk of repossession if monthly payments are not paid. Our team of mortgage brokers will assess the affordability of the Booster through our stringent affordability checks to try and mitigate the risk of this happening.

The Booster needs to evidence affordability

  • As the Deposit Boost is a mortgage product, Boosters will need to pass a credit check and prove affordability when applying. If the Booster is overcommitted with existing borrowing and outgoings, or their income isn't sufficient, they may not be eligible for a Deposit Boost.

Eligibility depends on the Booster's existing mortgage

  • Unlike Income Boosts, to be eligible for a Deposit Boost, your Booster will need to have either paid off their mortgage or have paid off the majority of their mortgage in order to be able to unlock additional funds.

Let’s get you on the property ladder

Find out how our range of Boost products could help you buy your first home too.

Check your eligibility

Some folks who have gone before you

A Deposit Boost has been the solution many happy Tembo customers were after. Read on to see how we helped them get on the property ladder.

Meet Tim

Read his story

Meet The Fosters

Read their story

Meet Stella & Pieter

Read their story

Tried, tested, trusted.

Our brilliant customers have rated us 'Excellent' on Trustpilot.

“Definitely one of those "why isn't everyone doing it?" moments.”

Patrick-avatar

Patrick

First-time buyer

Transparency

All sources and supporting information for claims made can be found on our transparency page

Read on