TV advert icon Howard Brown has teamed up with Nude – the app helping young people get on the property ladder – to give away over £10,000 to aspiring homeowners.
Launching today in Clapham North, London, before touring the rest of the UK throughout November, Howard will be operating the UK’s first ‘Human Cash Machine’ to hand out cash gifts (of up to £100) to those who are saving, or want to start saving, for a home, along with the chance to win £10k towards your first house deposit. Anyone can enter the giveaway online, but those who meet Howard in person will also get a unique code for extra chances to win.
A 2020 study found that the parents paid out an average of £19,000 to help their child buy their first home, with one in two house purchases said to be part-funded by parents.
Nude is on a mission to tear up the rule book, and empower young people to save for a home without an over-reliance on the Bank of Mum & Dad – including own data that revealed estimated 36% of 18-35 year-olds that don’t have the luxury of support from their parents.
Nude believes that the first investment to help young savers doesn’t need to come from their parents. And in the biggest comeback since Adele’s new album, Nude has hired the help of TV advert icon Howard Brown, who fronted banking ads on the nation’s screens throughout the Noughties, to hand out cash gifts across the UK.
Howard pushed a plethora of financial products through the early 2000s but comments on the stark contrast of first-time home buyers from that decade to present. Since 2005 the age of first-time home buyers has remained between 29 and 30, but the reliance on parents is reducing year on year. 43% of first-time buyers are now paying their own mortgage deposit in full compared to 29% in 2016*.
Nude has positioned itself to support the next generation of first-time home buyers, reducing the reliance on the Bank of Mum and Dad even further. Launched in 2019, the app is designed to help savers with a goal-orientated philosophy to building funds. Similar to the mission of fintech platforms in other sectors, Nude is democratising the financial sector making it easier for everyone to buy a home, not just those that can afford financial advice.
The app is designed to make it fairer and easier for people to save, such as through Nude’s savings and investment account, a Lifetime ISA that allows people aged 18 – 39 to save up to £4,000 per year with a government bonus of £1,000.
Crawford Taylor, Nude Founder and CEO, said:
“After a decade on the nation’s screens, who better to make a comeback and engage with a whole new generation of savers, than Howard? The Nude mission is to empower young people to save without the over reliance on the Bank of Mum & Dad, with a digital solution that brings support to everyone.
We believe it’s the first time a Human Cash Machine has hit the streets of Britain, and couldn’t think of anyone better to operate it than the most famous face in banking advert history.”
Telly icon, Howard, said:
“The bank of Mum & Dad was just as relevant in the noughties as it is now, and young people are still facing the same challenges to get on the property ladder. Nude is giving the next generation of homeowners the tools to start saving on their own, through technology. It cuts out all the confusing advice and jargon from the world of traditional banking and gives users a clear outline of how to reach their goals.”
The Human Cash Machine was a bit cramped, but it’s an attention-grabbing way to help educate youngsters, and of course, handout cash gifts to show the first few quid doesn’t need to come from Mum & Dad.”
The spectacle wearing funny man has donned his favourite attire, and stepped into Nude’s custom-built ‘Human Cash Machine’ – handing out cash to aspiring home-owners across London – along with a chance to win a life-changing £10k towards a house deposit. If first-time home buyers are unable to visit in person, they can also enter online at https://giveaway.getnude.com.
Kicking off in Clapham North on Tuesday, 9 November, follow Nude’s Instagram at @savewithnude to see all other locations across the UK he’s heading for, to hand out free cash.
