Building your Tembo Plan
Homeboosters unlock money from their property to help the next generation join them on the ladder.
If you're tired of seeing your loved ones struggling to become homeowners, read on.
Why become a booster?
Share the wealth
If you've worked hard to climb the ladder, you know how important homeownership is in giving you a stable footing in the world. And, with house prices steadily increasing, you've had the wind on your side too. Becoming a booster means you can pass this security, prosperity and future-proofing on to the next generation.
Lend a hand without disrupting your life
With over 3.5m young adults living back in the family home, younger generations are relying on family more than ever. Instead of giving up your spare room, downsizing to free up cash or opting for riskier financial products, boosting is a safe way to give. What's more, it won't affect your lifestyle.
Keep it in the family
Through savvy financial management, you could be saving your homebuyer thousands by tapping into market-leading interest rates, and getting them out of the expensive and unrewarding rental cycle. Plus, there are some benefits for managing inheritance tax. More money for you & yours, less for the banks & landlords.
How does a booster mortgage work?
We'll unlock money from your existing property with a Tembo boost. Then we'll use that money to top up your homebuyer's deposit.
House Purchase Value
Your boost will help the homebuyer get on the ladder faster and increase their affordability.
Plus, a deposit boost can save thousands in interest charges over the initial term.
Nuts & Bolts
A deposit boost is an interest-only mortgage taken out against your property to unlock money for your homebuyer's deposit.
A dedicated broker will arrange both the homebuyer and the homebooster mortgage for your family.
Interest rates for the booster mortgage are typically between 2%-3%, although your broker will confirm a live rate.
The interest is payable monthly by the homebooster, although many of our homebuyers opt to cover monthly fees.
The mortgage is flexible, but most often the balance isn't due until the homebooster moves, if they go into care or die.
Ready to get started?
How much could you save with Tembo?
We look at 60,000 mortgages out there and calculate how much you could save by adding Tembo into mix.
See what other boosters are asking.
Read all about itSee all posts
What exactly is a deposit boost?
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