Notices

  • Our Windfall Bond is available for new account openings, offering interest at the Bank of England Bank Rate and entry into a monthly free prize draw with more prizes available now determined by the prize fund value. Find out more here

    Newly opened accounts need to be fully funded and nominated bank details registered before the end of September in order to qualify for entry into the November Prize Draw.

  • Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 September 2024. We will be writing to all customers individually to confirm the new rates.

    Mortgages: Tracker mortgages will change on 25 September 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.

    (Notice updated 05/08)

  • From Thursday 22 August, we reduced our rates on all our fixed rate mortgage products.

    From 19 September 2024, we'll also be reducing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates. We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them. Find out full details here.

  • Online Service update. Due to planned essential maintenance, our Online Service will be unavailable from 10pm on Thursday 12 September until 2am on Friday 13 September. 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