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- Tembo is a new family finance platform, looking to close the vast generational wealth gap in the UK.
- Its first product provides an innovative solution to help home buyers get on the housing ladder by increasing the size of deposits by leveraging the income and assets of willing family members.
- Over 70% of its users to date were unable to get a mortgage until they used Tembo.
- On average Tembo users could save £14,000 in interest charges over the initial term.
- The business is backed by leading investors including Aviva and Fair by Design.
LONDON, June 9, 2021 /PRNewswire/ Families can now help their loved ones with buying their homes without the need of a cash lump sum as Tembo, the next generation lending platform backed by Aviva and Fair by Design (which includes Nationwide, Big Society Capital and Joseph Rowntree), launches a new approach to family lending for mortgages. Tembo offers a range of family deposit boost and guarantor products which allow first-