Notices

  • Savings products - In preparation of the launch of our new and improved Online Service we have temporarily withdrawn online applications for all our savings products. You can still apply for these products by post or in branch. All savings products will be available to apply online from 12 May. We apologise for any inconvenience this may cause.

  • We’ll shortly be making some changes to our Online Service to make it simpler and easier for you to use.  

    Our new Online Service will have a modern design, improved navigation and many added benefits.  

    Find out more about the changes

  • Mortgage products - On Wednesday 23 April, we made changes to our mortgage product range. These include rate adjustments across our fixed rate products, and an increase to our Owner Occupier Joint Borrower Sole Proprietor maximum LTV to up to 90% (with no additional security required) for loans up to £500,000.

  • Online Service update. Due to planned essential maintenance our Online Service will be unavailable from 6pm until 12am on Wednesday 7 May. Our Online Service will also be unavailable between 5.30pm on Friday 9 May until 9am on Monday 12 May. We apologise for any inconvenience this may cause.

Security through property

How family can use the value in their property as security to support the Family Mortgage.

If your family want to help you to buy a home but aren’t able to give you a gift or loan, they can still help by providing security through their own home. If you have a minimum of 5% deposit, from savings or a gift, family members can give a charge over some of the value in their own property.

By providing this security it will lower the interest rate that the buyer might otherwise not be able to get and so reduces their monthly payments.

Things to remember

  • Family members providing financial support should be aware that if the buyer is unable to meet the mortgage payments, the security they have provided is at risk if the property needs to be sold and there is a shortfall.

  • However during the first 10 years we do provide the buyer with important protection. Subject to certain conditions we'll meet the mortgage payments for up to six months should they become unemployed through no fault of their own, on a one-off basis.

What next?

You probably have a lot of questions about how the Family Mortgage could work for you - we are here to help. You can also read our frequently asked questions from the buyer and the family helping the buyer.

Call us on 03330 140144 Ask us to call back  Email us

 

You can find out more about the other Family Mortgage options here:

Any questions?

To find out more about our Family Mortgage you can contact our friendly New Business Team.

Find out more