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Could the Family Mortgage be a match made in heaven?

14 Feb 2019

With first time buyers struggling to get themselves on the property ladder, more aspiring buyers are now going to the sixth largest bank in Britain for financial help; the Bank of Mum and Dad.

Our recent research shows that the £5.7bn 'mortgage lender' is happy to be able to help their kids into their first home, with 70% of parents gifting or loaning their own savings. However, as our research shows, providing money often comes with misunderstandings and potential pitfalls.

What if there was an alternative way for family to help?

Our Family Mortgage has been designed to offer family members several options to help their children on the property ladder without having to gift or loan money.

With three options to choose from, our Family Mortgage could be a perfect match for many first time buyers and their family who want to help

                                                        What are the options?

Security Account
Family members are able to provide security for the buyer's mortgage by depositing savings into our Family Security Account, which will earn interest.

Security through property
Ideal for family members who don't have spare money. Instead family members are able to give a charge over some of the value of their property to act as security for the buyer's mortgage.

Offset account
Before the start of the mortgage, family members are able to deposit money into our Family Offset Account which will reduce the amount of the mortgage on which interest is charged.

You can find out more about our Family Mortgage here or you can contact your local BDM. 

Find out how the Family Mortgage helped Sarah and Adam buy their first home together.

Affordability Calculator

Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator

Find Your Local

Business Development Manager

Your Local BDM:

Arif Kara

Arif was previously a mortgage adviser, and focuses on North and West London. Contact Arif for help with your clients' mortgages.
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Your Local BDM:

Michelle Parry-Bunter

Michelle has worked for the Society for over a decade and focuses on the South Coast. Contact Michelle for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan was previously a mortgage and protection adviser, and focuses on Essex and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Charlotte Grimshaw

Charlotte has a background working with intermediaries within the Building Society sector and focuses around the West M25 area. Contact Charlotte for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East & West Midlands. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire & North East. Contact Paul for help with your clients' mortgages.
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We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

Opening hours: Mon - Fri: 8am - 5.30pm, Sat: 9am - noon

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