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Nude launches app to help first-time homebuyers

Nude launches app to help first-time homebuyers

UK startup Nude has launched its app for helping aspiring first-time home buyers build up their deposits.

Nude helps customers set how much they'll need for a deposit and within seconds shows how long it could take to get there. Customers then track their progress and connect their bank account.

Users can opt for Nude’s Lifetime ISAs, which let them save in cash or invest in a sustainable fund and receive a government bonus of up to £1,000 per year towards their home for free.

The app also analyses customer’s spending to give them personalised ideas and habit-building challenges that could knock time off their time to buy.

Meanwhile a ‘team up’ feature lets couples, family members or friends buying a place together, work towards building their deposit while tracking their combined time to goal.

Nude charges a £2 membership fee and, if a customer decides to invest there’s also a 0.35% platform fee.

Crawford Taylor CEO, Nude, says: "There’s a lot of noise out there telling people how difficult it is to buy a home. We all know it’s not easy but this constant sense of doom is enough to make anyone feel discouraged.

"With Nude, we want to cut through that noise and instead, give people support, tools and encouragement to show them they can do it."

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