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Family Springboard Mortgage

Buy your home with help from a loved one

Saving for your first home isn’t easy – now family and friends can help with the deposit.

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

How it works for home buyers

You own the property

Use your family or friend’s savings to buy your own house with your own mortgage – and they’ll get their money back, with interest.

You don’t need a borrower deposit

You can borrow the full purchase price of your home because your helper provides 10% as security for five years1.

You could borrow over 35 years

Paying over a longer term could help make mortgage repayments more affordable for you.

Competitive fixed interest rate

Select a fixed rate for five years, so you’ll have the security of knowing your mortgage payments won’t change over that time.

How it works for helpers

Who can be a helper?

Family, friends, loved ones and anyone who’d like to help someone they know to buy a home.

You put up security on a loved one’s mortgage

Open a Helpful Start account in your name and transfer 10% of the property purchase price into it as security on their mortgage.

Get your money back with interest

You’ll earn an attractive rate of interest on your savings for the agreed term.

Open up to six Helpful Start accounts

You can help more than one family member or friend get their own place, at the same time. And once you get your money back, you could use it again to help others.

How to apply

Call us or visit a branch to make an appointment where we can discuss whether our Family Springboard Mortgage is suitable for you.

Call us

Lines are open 24 hours a day, 7 days a week. To maintain a quality service, we may monitor and record phone calls. Call charges.

0345 734 5345

Mortgage appointment

Find out which documents you’ll need and what you’ll discuss with our mortgage adviser at your appointment.

Visit a branch

Find a branch near you that offers appointments with mortgage advisers and see when we’re open.

Your helper’s role

All helpers will need to open a Helpful Start account with us – they can call us to make an appointment. Lines are open 24 hours a day, 7 days a week2.

0345 734 5345

Our latest rates

You can also check our full mortgage range to see if our other mortgages are suitable for you, download our 
 tariff of mortgage charges and read our legal information.

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Getting legal advice

For home buyers

Your helper will need to seek independent legal advice for the mortgage application. This can’t come from the same solicitor who is handling the purchase of the property, but it can be someone from the same company or business. You or your helper will need to pay their fees.

For helpers

We ask you to get independent legal advice because we want you to fully understand the implications of putting your money into the Helpful Start account. This can’t come from the same solicitor who is handling the purchase of the property, but it can be someone from the same company or business. You or your loved one will need to pay their fees.

If the home buyer can no longer make their mortgage payments, we’ll keep your deposit in the Helpful Start Account for slightly longer than the agreed term.

If we need to repossess the property, you could lose some or all of the money in the Helpful Start account if there is a shortfall between what we’re owed and the amount we sell the property for.

Terms and conditions

Please see here for the Helpful Start account’s latest terms and conditions.

For those customers with an existing Family Springboard Mortgage prior to June 2019, you can find the Family Springboard Mortgage terms and conditions here.

Need some help?

Chat to us online

Start a web chat if you have a question about applying (we can’t give advice about choosing a mortgage during web chats).

Visit a branch

Find a branch near you that offers appointments with mortgage advisers and see when we’re open.

More ways to buy your home

Help to Buy equity loans

Top up your deposit with an equity loan

With a Help to Buy equity loan, you can add to your deposit on a new-build property, whether you’re a first-time buyer or buying a new home.

Shared ownership mortgages

Buy a share of a home and pay rent on the rest

Buying a home through shared ownership means you can apply for a smaller mortgage amount – so your deposit could be lower, too.

Joint mortgages

Buying property with other people

Buying property with your partner, family or friends can make sense, as long as you weigh up the benefits and risks of taking out a joint or guarantor mortgage.