Wonder where your Time to Buy comes from? It's an illustration based on a whole bunch of stuff, like:
- Your home - Your savings goal is based on the deposit amount for the home you picked, plus estimated legal fees & stamp duty.
- Your savings - All of the money you've saved already with Tembo, as well as any you've told us about outside of Tembo.
- Your bonus - The 25% Lifetime ISA bonus (up to £1,000 a year) is assumed on top of your deposit savings.
- Your monthly average - This is a combination of monthly contributions and top-ups you make, divided by how long you've been with us.
We use real HMRC house price data to work out how much your dream first home is likely to cost, but you can always pick a different amount or amend it as you go along.
Our house price data is updated twice a year, so you might see your time to goal go up (or down) if the average house price for what you're after changes. This way, you won't get all the way to the end of your journey and then realise you've come up short. We'll give you a heads up when it updates.
The time shown is for illustrative purposes, and is not a guarantee.