Help get your child on the property ladder
With the average age of a first time buyer now 34, more
and more people need help getting on the property ladder. We offer a parental
affordability boost option - it works by taking your income into account along
with your child's, giving access to more money.
Top Benefits
- Your child could borrow more as we take your income and their income combined
to determine how much they can borrow
- Available up to 90% of the property's value
- You will act as guarantor on the full loan amount
The Facts
- The guarantor must be a parent or step-parent, it is recommended seeking
legal advice before becoming a guarantor. There may be a charge for this advice
- The guarantor must have a minimum of £100,000 equity in their home
and earn a minimum of £40,000 per annum
- Maximum loan size £250,000
- Maximum age of guarantor is 65
For more information on how Parental Affordability works and how you could
help your child buy their first home, speak to one of our customer representatives
on 0845 609 0253.
