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Family Springboard mortgage

Buy your home without a borrower deposit

Through our Family Springboard mortgage, you can buy your home without a borrower deposit if your family or loved ones can provide 10% of the property’s price as security.

  • Available to first-time buyers and movers
  • Your family get their money back with interest if you keep up your repayments
  • Fixed rate for 3 years

Your home may be repossessed if you do not keep up repayments on your mortgage.

How it works

Get the property you want with a little help from your family or loved ones. You can find out more about our Helpful Start savings rates or the Helpful Start account terms 170 KB .

For the property buyer

  • Apply for a Family Springboard mortgage of up to £500,000 on a property in the UK, without a borrower deposit
  • Pay a fixed rate of interest for 3 years – when that ends we’ll move you to a LifeTime Tracker Mortgage
  • You retain full rights over the property – your helper isn’t a guarantor
  • Not available for New Build properties

For the helper

  • They open a Helpful Start Account with 10% of your purchase price at the same time you apply
  • They get their savings back after 3 years with interest, as long as you keep up the repayments
  • If you miss repayments, we may retain their money for a further period
     

How to apply

To get started, choose a mortgage from the list below then call us or visit a branch to speak to one of our friendly mortgage experts.

Call 0800 197 1081 1

Our current rates

This table outlines what the initial interest rate will be, as well as the follow-on rate, the amount you can borrow and any application and early repayment charges. You can sort any of the columns by selecting the column title.

You can save a copy of our tariff of mortgage charges and read our important legal information.

Are you a Premier customer? See our exclusive mortgage range.

The current mortgages data is unavailable. A complete list of all mortgage rates is available for download here.

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Initial interest rate

Follow on interest rate

Overall cost for comparison

Loan to value

Mortgage fee

Early repayment charge

Getting legal advice

As the home buyer taking out a Family Springboard Mortgage, you'll need to give us the contact details of the solicitor who is giving advice to the Helper about taking out the Helpful Start account that will be linked to your mortgage. This can't be the same solicitor who is handling the purchase of the property, but it can be someone from the same company or firm. You or the Helper will need to pay their fees.

It's important that the Helper gets independent legal advice. The solicitor will explain to the Helper the implications and risks associated with taking a Helpful Start Account as part of the Family Springboard mortgage.

Two important issues which the solicitor will explain to the Helper:

If you, as the property buyer, can no longer make your mortgage repayments we will keep the money the Helper deposits in the Helpful Start Account.

If we need to repossess the property and there is a shortfall between the amount of money we are owed and what we sell the property for, the Helper could lose some or all of the money deposited in the Helpful Start Account.

More ways to buy your home

Help to Buy Equity Loan

By adding an equity loan to your 5% deposit you can apply for a smaller mortgage and choose from a wider range of deals.

Shared ownership

Buying a share of a home with a housing association means you can apply for a smaller mortgage amount.

Buying with other people

If you can't afford a place of your own, buying with others could help you get on the property ladder.

Important information

Subject to status and availability. You must be 18 years old or over to apply for a mortgage.

1. Lines are open all day, every day – except during Bank Holidays and Christmas period, when lines may be closed at off-peak times. Call charges