Today we have some exciting news to announce. Nude has been acquired by the mortgage company Tembo Money. Nude has always had one goal - to help first-time buyers save a deposit sooner, and with Tembo’s help our customers can not only save for a deposit but also get expert mortgage advice when the time comes to buy. 

Tembo’s mission is to build the leading homebuyer platform to provide the fastest route to homeownership for first-time buyers. This acquisition marks an exciting next chapter in making that vision a reality. Together, we can help first-time buyers become homeowners faster, and continue to make home happen for the next generation. 

If you’ve never heard of Tembo before, you might be wondering who they are, and what this change means for your savings. Don’t worry, we’ve answered all your questions below. 

Is my money safe? 

Absolutely. Your money remains safe and secure, and is held in the same banking-level security account - this will never change. 

Your money also continues to be protected by the Financial Services Compensation Scheme - which means if one of the banks we partner with to hold your Cash Lifetime ISA money were to go into default, your money would be protected through the FSCS, up to £85,000 (per eligible person, per bank). Similarly, if you have a Stocks & Shares Lifetime ISA,the units held are in a fund managed by BlackRock Fund Managers Limited. This is an FCA ‘approved’ fund and the units held are FSCS protected, up to a value of £85,000. 

The acquisition of Nude by Tembo has been approved by the Financial Conduct Authority. Both Tembo and Nude are authorised and regulated and abide by strict governance and compliance rules. 

Who is Tembo? 

Tembo is an award-winning digital mortgage broker and affordability specialist with one simple mission - help the next generation get on the ladder, sooner. They are experts in finding new ways for buyers and remortgagers to boost their affordability. Whether that’s through family mortgages, innovative buying schemes or simply finding the best possible deal from their panel of over 100 lenders. In fact, on average the Tembo platform boosts a customer’s affordability by £82,000. 

Tembo has built a reputation for personable, industry-leading customer service since being founded four years ago. They have helped thousands of customers find the right mortgage for them and have an ‘Excellent’ rating on Trustpilot with 4.9 stars. For two years running, Tembo have also been voted the UK’s Best Mortgage Broker by customers at the British Banking Awards. 

Tembo are backed with investment from Aviva as well as other ethical investors, and have partnered with a range of businesses from Saga to Lloyds Banking Group. 

What will happen to my interest rate?

Saving for a home is one of the biggest challenges first-time buyers face when it comes to homeownership. We wanted to make an entrance with the Tembo Lifetime ISA, and what better way to do this than to reward our customers who are trying to cut down their time to buy?

Now, savers who open a Tembo Lifetime ISA or transfer their funds over benefit from our 4.3% AER (variable) interest rate - and unlike other rates available on the market, there are no introduction periods. Making it the market-leading Lifetime ISA interest rate for all the years you're saving - not just year one.

If you have a Stocks and Shares Lifetime ISA, your money will continue to be invested in BlackRocks ‘MyMap5 ESG Class D (Acc)’ fund. 

What happens to my personal and financial data? 

Nothing will change in the way your personal/financial data is processed or stored, it remains safe and secure, protected with banking-level security. 

Can I still access my savings through the Nude app? 

Yes, your savings are still accessible through the Nude app, and your customer login and account details will remain the same. 

Why have Tembo acquired Nude?

Since Tembo launched, it has focussed on fast-tracking the time to purchase for first-time buyers through their affordability-boosting mortgage technology as well as their award-winning team. Nude shares this mission, but has focussed its time and attention on the first stages of the homebuying journey: saving a deposit. 

Building up a house fund remains one of the biggest hurdles would-be buyers have to overcome - on average it takes 10 years to save up a deposit. First-time buyer deposits now average over £53,000, and cost of living pressures have made saving such a large sum of money harder than ever. 

This acquisition allows Tembo to build on its proposition - supporting customers all the way from depositing their first £1 in savings to getting the keys to their first home. 

What does the future hold? 

Over the coming weeks, you’ll see some exciting changes land in your account. You’ll be the first to hear about these updates, so keep your eyes peeled. 

Who should I contact for more information?

For account enquiries, you can contact the support team at - the team is available Monday-Friday 9am-5pm. 

For press enquiries, please contact Hannah Williams at 

Open your Lifetime ISA today 

Whether you want to transfer your savings over or start your house fund from scratch, open a Lifetime ISA with us today. 

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