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.