Tembo

Who they are

Tembo was founded during the Covid pandemic by Richard Dana, Eddie Ross and Geoff Wright, with the objective of increasing access to homeownership for first-time buyers and people facing affordability issues.

It offers whole-of-market mortgage and remortgage advice across 100-plus lenders , but what makes it unusual for a savings page is that the savings products are genuinely built around the mortgage journey. Tembo describes itself as a "homeownership partner", supporting people through the whole home buying process - from saving for a deposit all the way through to purchasing their first home.

The firm has been recognised by customers as the UK's Best Mortgage Broker at the British Bank Awards in 2022, 2023 and 2024.

Your money is not held directly on Tembo's own balance sheet. It is FSCS protected and held with partner banks: Barclays, Bank of Scotland, Aldermore Bank, QNB Bank or Shawbrook Bank. Tembo is not a bank. Its savings accounts and ISAs are held with partner banks and protected under that bank's licence.

Savings accounts

Tembo offers a focused range of five accounts, all variable rate and all openable from modest minimums.

The HomeSaver is an easy access account paying 4.55% AER, with instant access and a minimum of just £10. The HomeSaver Cash ISA sits alongside it at 3.00% AER but comes with a bonus for the first 12 months if you complete a mortgage through Tembo within three years - so the rate you actually earn depends on whether you follow through with a home purchase.

For ISA savers, the Standard Cash ISA pays 4.00% AER from £10, and the Fixed Rate Cash ISA locks in 4.55% AER from a £500 minimum with no access until maturity. If you are saving toward a first home and are under 40, the Tembo Cash Lifetime ISA is the standout at 4.56% AER, accessible at age 60 or when buying your first property, from just £1.

All rates are variable and will move over time - the live figures on this page reflect the current position.

Is it right for you?

Tembo is a strong fit for first-time buyers who want their savings and mortgage journey in one place. The LISA rate is competitive, the HomeSaver is a clean easy access option with no withdrawal penalties, and the fixed ISA suits those who want certainty while they save up a deposit.

If you have no intention of using Tembo for a mortgage, the accounts still stand on their own merits - but the HomeSaver Cash ISA bonus only pays out if you do complete a Tembo mortgage within three years, so that one is genuinely most valuable to buyers on that path.

Compare the live rates shown on this page before you open anything, as all five accounts are variable and the market moves regularly.