How clients can use family support to help buy a home

13 Jan 2022

It's official! Today's 30 year olds have it harder than their parents did, says the Telegraph (7 January 2022). Despite higher mortgage rates for mum and dad, greater property prices now wipe out any gains from today's lower rates, making a family's financial support even more key.

We have a range of mortgage options that support families to achieve their housing goals.

Joint Mortgage Sole Owner

Our JMSO arrangement allows families (parents and adult children only) to help each other with affordability when applying for a mortgage. 

Up to two family applicants can support one or two borrower(s) by using up to four incomes for affordability. Supporting family applicants will be listed on the mortgage but will not own the property.

  • Suitable for:

    • young borrowers needing help onto the property ladder

    • adult children wanting to support their parents, and

    • recently separated or divorced applicants in need of temporary help with their mortgage.

  • We also lend in retirement with higher maximum ages than most lenders.

Family Mortgage

Our Family Mortgages gives families the flexibility to combine their wider assets as security to help the borrower benefit from a competitive rate when faced with a 95% mortgage. Families can do one or a combination of the following; 

  • Use family savings as security: in our Family Security account, savings earn interest as well as providing security 
     
  • Secure a charge over property: use family property as security
     
  • Open a Family Offset account: use savings as security to reduce the amount of the mortgage on which interest is charged
     
  • Benefit from six months unemployment cover: at no extra cost (subject to conditions).

At Family Building Society, we have a common sense approach and assess each application on it's own merit so that we can fit to your client's particular circumstances.

Find out more about our Family Assistance Range

Semi-exclusive products

Did you know that on top of our standard range of products we have additional semi-exclusive products available via our packaging partners? Speak to your local Business Development Manager for more information.

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.
Edit my local BDM

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.
Edit my local BDM

Your Local BDM:

Nathan Waller

Nathan, previously a mortgage broker, focuses on Cambridgeshire, East Sussex, Essex, Suffolk, Hertfordshire, Bedfordshire, Lincolnshire, Norfolk and Kent. Contact Nathan for help with your clients' mortgages.
Edit my local BDM

Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
Edit my local BDM

Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East & West Midlands as well as the Southwest. Contact Darren for help with your clients' mortgages.
Edit my local BDM

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.
Edit my local BDM

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

We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.

Edit my local BDM