Nude - financial saving app for prospective homeowners

Not sure if anyone has seen this new app or uses it but wanted to see if anyone had any thoughts.

Currently paying 1.25% on their ISA.

Seems like a smart idea and a well designed app from what I can see playing around with it. Not put any money into it yet.

Think I came across them when they crowdfunded.

Their fees are not overly competitive but then again my comparison point is Moneybox for them who if I was interested in a Cash LISA I’d go with them because they’re an established business:

Personally, have my Stocks and Shares LISA with Dodl

Just came across it a few hours ago - someone on LinkedIn started there a couple days ago (2nd connection)

Bit confused about what they’re offering (for a fee!) that Moneybox doesn’t for free?

Moneybox isn’t free. They charge a standard £1 per account fee I believe, pay lower interest that Nude on the Cash LISA and charge a slightly higher % fee on the Stocks and Shares LISA.

I guess Nude are banking on the fact that by giving you a projection on the date you will accumulate your deposit, the balances of the funds they hold for you are just going to keep growing and growing.

I think Nude is probably targeted at someone who is less savvy than the average Moneybox user, but I could be wrong.

I could never trust such a dull coloured boring website. It nearly put me to sleep just reading through it :joy: