What you need to know:

This product is specifically designed for home buyers who do not have access to a monetary deposit, but instead family members may be in a position to help financially. Our Family Assist product enables you to borrow up to 100% of the property value, or purchase price (whichever is lower) and is an effective way of gaining a foothold on the property ladder. In order to provide 100% loan to value, additional security is required, with either of the following options.

Option 1 - Collateral Charge

This involves a collateral charge being secured against a family members’ property. The amount of charge is limited to 20% of the amount you are looking to borrow. In order to secure this charge we will require the family members’ written agreement to complete a credit check. 

A standard mortgage valuation must also be completed on the property being offered as security in order to ensure that there is at least 40% equity to support the charge. Please note the Society can only be first or second charge on the family member’s property. 

No income assessments or further underwriting are completed in connection with the family member. The amount you can borrow is determined by assessing your income and status only. You will incur additional legal costs to secure the charge and as a condition of this mortgage, the family member(s) must also take independent legal advice. This advice will be provided at your expense. 
The charge on the family members’ property can only be removed when the total level of borrowing falls below 80% of the value of your property at that time, subject to the following; 

  • Payments to the mortgage are up to date;
  • A revaluation of the mortgaged property; and
  • The mortgage remains affordable and meets current lending criteria. We may ask to see proof of income and expenditure, as well as conduct up to date credit searches

Please note, administration fees may apply to remove the collateral charge at Land Registry.

Option 2 - Savings Deposit

The savings deposit option is designed for family members who want to earn interest on their deposit, rather than gifting it to a relative. We require a deposit of 20% of the amount you are looking to borrow to be paid into our Family Assist savings account.

The sum deposited will accrue interest at the current rate. Funds can only be withdrawn from the Family Assist savings account when the total level of borrowing falls below 80% of the value of your property at that time and if payments are up to date. You must also be able to provide evidence that the mortgage remains affordable and meets current lending criteria.

Additional details

  • Available to both First Time Buyers and Home Movers and for residential applications only.
  • A standard valuation will be completed on the purchase property and this will be at your expense. You will also need to pay for your own legal costs.


Start your journey on the property ladder, call us today 0121 557 2551* or arrange a callback
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