Family Springboard Mortgage

Buy your home without a borrower deposit

Buy a home without a borrower deposit if your family or loved ones can provide 10% of the property’s price as security.

  • Available if you’re buying your first property or moving home
  • Your helper gets their money back with interest if you keep up your payments
  • If you miss payments, we may retain their money for a further period

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

Are you eligible?

You must be aged 18 years old or older and buying a home in the UK worth up to £500,000. Our Family Springboard Mortgage isn’t suitable if you’re buying a newly built property. 

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 account terms 640KB

You don’t need a borrower deposit

Your family or helper provides security to your mortgage by opening a Helpful Start account with 10% of the property purchase price.

Your family gets their money back with interest

If you make all your mortgage payments on time, we return their money after 3 years with interest.

You keep full rights to the property

Your family or loved one isn’t considered a guarantor – but we may retain some of their money for longer than 3 years if you miss any payments.

Fixed monthly payments for 3 years

We charge a fixed rate of interest for the first three years – then you move to our lifetime tracker rate.

Our current rates

This table shows 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.

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How to apply

You’ll need to speak to one of our mortgage advisers to apply for a Family Springboard Mortgage. 

Book an appointment

Call us 1 on 0800 197 1081– all day, every day, except during Bank Holidays and Christmas period, when lines may be closed at off-peak times.

Visit a branch

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

Getting legal advice

Before we agree to lend you money under the Family Springboard Mortgage, you’ll need to give us the contact details of the solicitor who is giving you advice about taking out this 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. You or your helper will need to pay their fees. 

Getting independent legal advice is important, and your solicitor will explain the implications and risks associated with taking a Helpful Start Account as part of the Family Springboard mortgage.

Two important issues they’ll explain fully to you concern what happens if the property buyer can no longer make their mortgage repayments. If that happens, we’ll keep the money the helper deposits in the Helpful Start Account.

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

Need some help?

Talk to us online

Start a web chat if you’d like to ask us a question online.

Call us

Call us1 today. Lines are open all day, every day – except during the Christmas period, when they may be closed at off-peak times.

0800 197 1081

More ways to buy your home

Help to Buy Equity Loan scheme

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 moving home.

Shared ownership

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