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Meet Stella & Pieter

A young couple trying to buy their first home in London

London. The home of red buses, the Queen and Mick Jagger. A teeming metropolis that has hosted the Olympics not once, not twice, but three times. A city that close to 9,000,000 Londoners from over 270 different countries call home… and proud bearer of the title of Europe’s most expensive housing market.

Enter Stella and Pieter. This young couple were trying to buy their first home in the capital, but despite both being high flying city professionals in well-paid roles they were struggling to move things forward. Stella and Pieter had spent the past five years putting every spare penny towards their house deposit fund, which had built up to a very healthy £50k. But with the average house deposit in London coming in at over £130,000, it’s not hard to see that the guys were up against a terrifyingly steep challenge. 

Stella’s parents were watching both of their children struggle to break into the property market. Stella’s older sister was in a very similar predicament; she had made great progress saving a house deposit and had a well-paid job, but all of those good things were no match for the London property market. 

Despite wanting to help, as the parents had no cash savings or investments to pass on to their daughters, they had come to a dead end. But as fate would have it, they came across Tembo. Stella’s parents still live in their family home and paid the mortgage off in full a few years ago, meaning there was plenty of scope for us to help boost the girl’s deposits. 

After discussing the various options available, including a joint borrower sole proprietor (JBSP) and guarantor mortgage, the family settled on a deposit boost. We unlocked £200,000 from Stella’s parent’s home, which they cut straight down the middle, passing £100,000 on to each of their daughters. 

With a brand new deposit of £150,000, Stella and Pieter were able to buy their dream home in London and finally wave goodbye to their expensive rental. Without unlocking that cash with the help of their family, the couple could have spent the next decade slowly growing their savings pot. 

If you’re up against the London property market, complete a plan & start the conversation with our experts. It’s a tough one to face alone. 

Meet the Fosters

John and Diana Foster are happily retired, but desperate to help their two daughters move out of the family home.

Their daughters are in their thirties, and like so many young adults - are living back in the family home trying to save to buy their own place.

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