Tembo Money Review: Should You Trust Them for Your Home?

Buying a home is exciting, but let’s face it—it can also feel like a real challenge, especially with the UK’s unpredictable housing market.

If you’re a first-time buyer, you might already feel like the odds are stacked against you. House prices keep climbing, and saving for a deposit can feel endless. 

On top of that, figuring out how much you can actually borrow to buy a home can be a bit overwhelming.

That’s where Tembo Money could make things simpler. They offer smart solutions to help boost your income and deposit, making it easier to take your first step onto the property ladder. 

In this review, we’ll take a close look at Tembo Money: who they are, what they offer, what makes them different, and whether they might be the right choice for you. 

Whether you’re buying your first home, remortgaging, or simply curious about their services, keep reading for a full breakdown.

What is Tembo Money?

Tembo Money is a UK-based digital mortgage broker that helps make buying a home easier for you. 

Whether you’re a first-time buyer, moving house, or remortgaging, they’re there to help.

Founded in 2020, Tembo is fairly new to the market but has already made a name for itself, winning the ‘Best Mortgage Broker’ award at the British Bank Awards in both 2022 and 2023. 

Their mission is simple: to make homeownership affordable for you. They offer solutions like guarantor mortgages, shared ownership, and a Lifetime ISA, all designed to boost your borrowing power and make the process stress-free.

If you’ve been struggling to find your way onto the property ladder, Tembo could have the answers you’re looking for.

How Does Tembo Money Work?

Tembo Money makes getting a mortgage simple. Here’s how they help you every step of the way:

1. Online Consultation. You start by filling out a short online form about your finances, credit history, and home-buying goals. This helps Tembo understand your needs and find the best options for you.
2. Expert Advice. You’re matched with a real advisor who gives you personalised guidance. They’ll help you find the right mortgage deal, explain government-backed schemes, or introduce extras like Income Boost and Deposit Boost.
3. Know Your Budget. Tembo provides a ‘Decision in Principle’ (DIP) almost instantly. This shows how much you might be able to borrow, so you know your budget before you start house hunting.
4. Full Application Support. When you’re ready, Tembo works with over 100 lenders to find the right deal for you. They handle the paperwork and guide you through the entire process until your mortgage is approved.
5. Always There for You. Even though Tembo works online, you’ll have a dedicated advisor to answer your questions and provide support whenever you need it.

With Tembo, getting a mortgage is simple, clear, and stress-free. They focus on making things easier for you at every step.

About Tembo Money Services

No matter where you are on your home-buying journey, Tembo’s got something to help. Here’s what they bring to the table:

• Mortgages. Tembo can help customers find the right mortgage for them. This includes first time buyers, remortgages, buy to let mortgages, guarantor mortgages, shared ownership, and professional mortgages.
• Savings. Saving for your first home or retirement? Tembo’s Lifetime ISA offers one of the best interest rates around at 4.75% AER (variable), plus a 25% government bonus on up to £4,000 saved each year.
• Insurance. Tembo helps protect what’s important with Life Insurance, Income Protection, and Critical Illness Cover—giving you peace of mind when life throws surprises your way.
• Advice. Need some extra help? Tembo’s team of friendly advisors can guide you through mortgages and protection options. Plus, their Property Insight Reports give you useful details about local schools, energy ratings, and house prices to help you make smart decisions.

Tembo Money makes the homebuying journey smoother, whether you’re just getting started or ready to secure your dream home.

What Isn’t Covered by Tembo Money?

Of course, no service is perfect. Here are a couple of things to keep in mind:

• No Free Mortgage Advice. Tembo does charge for their mortgage services, which is different from some competitors who offer free mortgage advice. Their fees range from £499 for standard services to up to £749 for more complex cases.
• Not Always Ideal for Small Budgets. If you’re particularly cost-sensitive, you might prefer a broker with a fee-free service like L&C Mortgages.

What Makes Tembo Money Different From Other Brokers?

Tembo Money stands out for a few reasons. Here’s how Tembo stands out from competitors:

Exclusive Features

• Income Boost. If a family member or friend is happy to help, their income can be added to your mortgage application. This could increase the amount you can borrow—something most brokers don’t offer.
• Deposit Boost. Struggling with your deposit? Tembo lets relatives use equity from their property to top it up, giving you the boost you need.
• Lifetime ISA. Saving for your first home? Tembo’s Lifetime ISA offers a competitive interest rate and a government bonus to help grow your deposit faster.

Whole-of-Market Access. Unlike brokers tied to specific lenders, Tembo works with over 100 lenders. This gives you access to a broader range of options tailored to your situation.

Hybrid Digital and Personalised Approach. You can do much of the process online, which is handy if you’re short on time. But when you need help, Tembo gives you a real advisor to guide you. No chatbots, just friendly experts who know their stuff.

Award-Winning Customer Service. Voted the UK’s Best Mortgage Broker two years in a row (2022 & 2023) at the British Bank Awards, Tembo has proven excellence in service and customer satisfaction.

Tembo does charge fees ranging from £499 to £749, but this is an investment in finding the best deal, which could save you money in the long run. 

Fee-free brokers like L&C Mortgages might suit smaller budgets, but Tembo’s unique features and dedicated support often offer better value for those seeking creative solutions.

What Do Customers Say?

Tembo Money makes things simple and personal. They get rave reviews, scoring 4.9/5 on Trustpilot from over 1,100 happy customers. 

People love their personal advisors, the clear communication, and the step-by-step support. 

A few reviews mention occasional delays, but overall, the feedback is overwhelmingly positive.

You start online with handy tools and calculators to see what you could borrow, and from there, you’re paired with an advisor who sticks with you from start to finish. 

Whether it’s a quick chat via live support, a phone call, or an email, help is always at hand.

Who Should Use Tembo Money?

Tembo Money is ideal for:

• First-Time Buyers. Particularly those who might need help from family through a guarantor scheme.
• Remortgagers. If you’re looking to release equity or switch deals.
• Self-Employed or Those with Bad Credit. They work with niche lenders that cater to more complex financial backgrounds.
• Buy-to-Let Investors. For those interested in property investments.

However, Tembo might not be the best fit if you’re looking for a completely fee-free service or want everything managed via an app.

The Pros and Cons of Using Tembo Money

Here’s a quick recap of the pros and cons of Tembo Money to help you decide:

Pros:

• Innovative family support options like Income Boost and Deposit Boost.
• Lifetime ISA with a competitive interest rate, helping first-time buyers save faster for their deposit.
• Whole-of-market access to over 100 lenders.
• Highly rated customer service (4.9/5 on Trustpilot).
• Personalised advisor guidance alongside digital tools.
• Potential discounts on fees, making their service even more attractive.
• Offers a complete home-buying service for a fee.
• Specialises in helping first-time buyers.

Cons:

• Charges fees for their services (£499-£749), no free options.
• No dedicated mobile app, unlike some competitors.
• Minor customer complaints about communication delays.
• Relatively new to the market, which may concern some buyers.

The Bottom Line: Should You Use Tembo Money?

If saving for a deposit or getting a mortgage feels out of reach, Tembo Money could help. 

Their Income Boost and Deposit Boost schemes let family members chip in to get you on the property ladder. They also offer a Lifetime ISA to grow your savings faster.

There is a fee, but Tembo mixes smart tools with personal advice, making it great if you need extra support. 

If you’d prefer a free or fully online option, brokers like Habito or L&C Mortgages might suit you better. But if you need a bit of a boost, Tembo is worth a look.

Our Take: We give Tembo Money a solid 5 stars (★★★★★). 

Their creative solutions, focus on first-time buyers, and mix of personal advice with tech make them stand out. The fee won’t suit everyone, but for many, it’s worth it.

Want to know more? Check out Tembo Money and see how they can help you buy your home.