First time buyer & family assisted mortgages

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 Joint Borrower Sole Proprietor (JBSP) arrangement, available up to 90% LTV,  and award winning 95% LTV Family Mortgage.

Our JBSP 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.

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 Joint Borrower Sole Proprietor (JBSP) arrangements for first time buyers or those needing help to move to a bigger home, are suitable for those who do not currently have sufficient income to meet affordability on their own but are in employment where they expect their income to grow sufficiently to afford the mortgage in their own right within the next 5 years. However, a JBSP can also be used by older members of the family, assisted on the mortgage by adult children, to help them stay in their home or to carry out renovations.
• Our Family Mortgage is ideal for first time buyers, however it can also be used if you already own a home and need some help to move to a bigger or different property. The home you have with the Family Mortgage needs to be your only residence and you need to have a minimum of 5% deposit saved. Family members will need to provide security to bring the LTV (Loan to Value - the size of your mortgage loan compared with the value of your property) down to 75%. The family members assisting the mortgage can be parents, grandparents or step-relations.
  

Family members assisting the mortgage can be parents, grandparents, siblings or aunt/uncles helping adult children, or adult children helping their parents.

We review all JBSP enquiries before you submit an application, so we’ll ensure you’re eligible before you have to worry about going through the application process. Plus our normal lending criteria will also apply.

• For a Joint Borrower Sole Proprietor arrangement, your income can be combined with your child’s to help with affordability on their application.
• With the Family Mortgage you can assist your child’s mortgage by providing security which can be done in three different ways; savings, value in a family property, or offsetting part of the mortgage, or a combination of them all.
  

You can apply to us directly by speaking with one of our dedicated Mortgage Advisers, or you can apply through an alternative mortgage adviser, if you already have one.

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Affordability calculator   Family Mortgage repayment calculator  Family Mortgage enquiry