A family assisted mortgage allows a borrower to use security or income provided by their family to help them to buy a home. We offer two different mortgages where families can assist financially; our award winning 95% LTV Family Mortgage and a Joint Mortgage Sole Owner (JMSO) arrangement.
Our Family Mortgage allows borrowers to use family security such as savings or property
to reduce the amount of deposit they need. Family members are responsible for making up any shortfall (up to the value of the security that they've provided) if you sell your house for less than the mortgage value, known as negative equity.
Our JMSO arrangement allows borrowers to combine other family income
alongside their own to maximise their mortgage whilst keeping sole ownership of the property. Should the occupying owner be unable to make their mortgage payments, the non-occupying borrowers are liable for the repayments. If they can't afford to
pay the full amount, then the property is at risk of being repossessed.